Feature: Crowdfunding brings not only changes in way of funding

Monday, to most people, was just the beginning of another week. But to cartoonist Lucio Zago, it marked the onset of a new journey: the printing of his very first book to be completely funded by hundreds of strangers all over the world.

Thirty days ago, in his cozy apartment in Brooklyn, New York, Zago decided to try a thing he had never done before: launch a 30-day crowdfunding campaign for his graphic novel entitled Williamsburg.

Having lived in the now trendy, hipster neighborhood of Williamsburg for 23 years, he had a story to tell through the graphic novel about the fast-changing community where once nobody wanted to live.

"Honestly (at first) I didn't really trust the crowdfunding process very much," he told Xinhua.

But to his surprise, the first day had gone stupendously. The goal of the 30-day campaign was to raise 7,800 U.S. dollars. Twenty-four hours into the crowdfunding campaign, he had raised nearly one third of the goal.

"I felt encouraged, and also a bit scared, because at the time I get a backer, I know that I owe them something," Zago said.

Since the advent of the first crowdfunding platform in 2008, the economic trend has been simmering for years and seemed to blossom in 2016.

It is estimated that global crowdfunding investments reached 34 billion dollars in 2015, and in 2016 it will surpass the annual amount venture-capital funds received globally.

Like Zago, hundreds of thousands of kindred spirits share their ideas, from high-tech gadgets to food to the film industry and even to real estate. Crowdfunding brings their inspirations to life.

This comes as no surprise for Slava Rubin who, along with two other partners, launched Indiegogo in 2008, the first rewards-based crowdfunding site, with an ambition to "democratize the access to capital."

"That (crowdfunding is on fire) is not a surprise. And we have lots of work left to do because the world needs an alternative way of funding," he said.

To Zago, what crowdfunding brought to his life was never about the money, but the connection with his fans all over the world.

On May 30, after the cartoonist collected 15,475 U.S. dollars from 318 supporters, a sense of emptiness kicked in. "No more notifications, no more new backers," he said.

Zago, an obscure cartoonist in the comic world, saw the crowdfunding campaign as a way to reach out to his backers.

"If I hear it rings, I would run over to see if there is anything new. It is not about the money, it is about who it is, where is he or she from. Then I feel most excited when there is a phone far away."

He got responses from backers all over the world, such as the Philippines, Australia, Germany, Austria, Italy, South America, and Chile. "It is encouraging to know that my work is being seen somewhere on the other side of the world."

Having done a lot of research on the subject, Anindya Ghose, professor of marketing with New York University, also believes that money is actually the secondary outcome of crowdfunding.

"Its primary benefit is generating market awareness and buzz or word-of-mouth of your idea," he said.

Have raised more money than his original target, Zago plans to add some elements to increase the quality of the book, including printing the entire book with recycled paper, inserting a certain amount of pages in color, and giving the book a protective sleeve.

"I have gone through the entire experience of doing a crowdfunding project, I am a fan of it. But don't just jump into it, prepare yourself really really well, create a very good program," he said. "It is a lot of work." Endi