Written by: GavertC
Today, I will be interviewing WeFund, a cross-chain and real world fundraising app for people across all industries. The teams core members are Ika (Bali/Jakarta), Andrea (Bali/Jakarta), Austin and Jason (From US but living in Bali), and Manuel (Spain), and each of them bring their own unique experiences and strengths to the table.
Looking forward, the team plans to extend their reach to fundraising for several industries including business, gaming and sports.
These guys were a lot of fun to talk with and get to know over the last couple days, and I am optimistic for the future of this group and their project,
- How did the project get its start?
It started in September when we applied for the Spacecamp from TerraFormLabs, the hackathon with a project called FanSquad. After the application we saw the possibility to expand the business idea not only to the creative industry, but to all industries.
It was at this point we rebranded to the name “WeFund”, a community crowdfunding incubator for both crypto and real world businesses and fundraisers.
We decide to go step by step and starting to develop the WeFund platform and starting with Crypto projects industry
- What does WeFund bring to the community?
On crypto we see one problematic point and is the security for the backers in terms of a scam project or not enough competent team, so we develop a “Milestone Fundraising System” for protect the backers and release the funds step by step model following the milestone and with backers approval for each step. Meaning if the backers chose to stop supporting the project, they would get their money back.
Also WeFund don’t touch any money and all going automatic to the Anchor protocol and the funds are released under SmartContract
WeFund is also proud to announce that it doesn’t charge any commission or % to the project creator, but gives the possibility to the project creator to share some % for WeFund services or some % for Charity.
- What are the plans for the future of WeFund?
Our long term vision for WeFund would be to implement new industries step by step, like the next one is the sport industry, then creative industries, followed by the gaming and real estate industries.
- The real world industry we want to combine with to tokenize existing business models (Creative/Sport Industry, Insurance)
- Mirror existing business models (Real Estate, Stock Market)
- Create new business models based utilizing NFTs
- Combine profit sharing with a tokenomics model
- Use conventional profit sharing and have fundraising inside and outside crypto space
- Connect the fan/user to the business model and make them part of the decision.
WeFund wants to be a connector between the real world and blockchain, helping projects to become real and deliver high quality projects, while also protecting the backers.
- What Inspired you to make WeFund?
Our motivation in building WeFund is simple. One of our co-founders had their startup before incubated by BTP (Bandung Techno Park), but the funding stopped due to COVID. And they weren’t the only one inconvenienced, many start-ups lost their funding due to the COVID pandemic.
So I was thinking of building something that can help people, incubation and fundraising by crowdfunding for the community by community. Thus enters WeFund.
In conclusion, I think WeFund will be the next big thing in fundraising companies. They have a truly dedicated team, a clear and altruistic vision for the company, and the security for funds that investors, donators, and people in general want and need when it comes to raising funds for a business or idea. I wish them luck on their future endeavors, and have a feeling they will excel in this field.
Thank you for reading, for more interviews check Intern Interviews on terraspaces.org, I am GavertC and I’ll see you next time!