Kickstarter Announces Transition to the Celo Blockchain

Kickstarter to transition to Celo blockchain to offer decentralised crowdfunding features.

Kickstarter announced plans to develop an open-source crowdfunding protocol on the Celo blockchain. The project will offer the platform’s core features in a decentralised environment.

The team registered a subsidiary, which, from the first quarter of 2022, will begin developing a blockchain analogue of Kickstarter. The parent company will provide financing, form an initial board of directors, and become one of the first clients.

In 2022, the project site is expected to migrate to the protocol with no noticeable changes for users.

As part of the decentralised version, an independent laboratory will be created to develop tools for the project’s growth and to ensure independence from the leadership of the new company.

It will be led by Camilla Cannon, a co-founder and CEO of Purpose Foundation, which develops and scales alternative models of ownership and governance.

A white paper and the project’s roadmap will be released in the coming weeks.

The choice of Celo for Kickstarter was explained as minimising its environmental impact and focusing on global accessibility.

In July, the funding round for Celo was led by a16z, with Deutsche Telekom having previously invested in the project.

Celo became the backbone of the initiatives by Aave, Curve and Sushi and other projects for the global deployment of DeFi.

Earlier, the UK-based venture firm Outlier Ventures proposed a fundraising mechanism using NFT, similar to the ICO.

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