Wattpad, the website that allows people to post their writing for free to get readers and feedback, has announced that they are now offering a crowdfunding model to help writers with popular works on the site publish their work. They are calling it “Fan Funding”, and they already have one successfully funded project and two others that are currently raising money. According to Publisher’s Weekly based on the video on Wattpad’s site, “Wattpad is providing the infrastructure (Amazon provides the payment structure for Kickstarter) and requires the use of a credit card. Lau said Wattpad will take a “minimal service fee”—5% of funds collected, while online payment company Stripe will also take a 2.9% fee plus 30 cents per transaction.” Much like Kickstarter, the…
Tagged: Amanda Palmer, Catch My Breath, Crowdfunding, Fan Funding, Indiegogo, Kickstarter, Wattpad