Crowdfunding is a way for people to gather with small amounts of money for a project or venture, typically via the Internet and or through friends or associates. Crowdfunding, would be considered a form of alternative financing. In 2019 over $50 Billion worldwide was raised with Crowdfunding.
Through the years Crowdfunding would be considered a form through mail-order subscriptions, telephone soliciting or other ways to raise startup capital. Currently, Crowdfunding using different methods to raise money, a person proposes an ideas for a product or service, then the person will find other people or groups to support the project then they create a platform to launch the idea to get people to invest.
Crowdfunding has been used to fund a wide range of for-profit, ventures by smart entrepreneurial people. Most people love this type of funding because it fuels them with ideas to bring to the masses through the internet when such a vehicle would be much harder years ago. You have a world of eyes on your product or service vs. just an idea with a phone.
Crowd Funding has a long history of bringing people together