Fidia: the unbreakable crowdfunding bridge for African creators.
For every new creator on the internet, there is another who either ignores crowdfunding or has never been crowdfunded in Africa. The memory of a celebrity crowdfunding campaign that sent the internet into a frenzy made me realize the lack of creators and why a long-term solution was badly needed. davido, the multi-millionaire Afrobeat star, went online a few months ago and asked his fans and friends for money. Within 90 minutes of the posts, the Afrobeat musician shared a screenshot of his account balance, which showed over 42 million naira.
This is not the end of the story; he received more money over time, and it wasn’t just from friends who wanted to help a friend, but also from die-hard fans who gave everything they could afford. Courty, a passionate content creator, asked her fans for money as a birthday gift last year, and her fans surprised her by sending her not only money but also gifts. Ini Cash is another YouTube content creator who asked his fans to help him buy a new camera, and his fans generously responded.
There are more notable crowdfunding stories and even people raising large sums of money, but the main issue is why crowdfunding is not a household name among African creators, why the average African creator reluctant to adopt this alternative monetization method and why platforms like Fidia to exist.
Crowdfunding is the practice of raising money from many people. It is an alternative type of financing, as it involves financial channels and procedures from non-traditional monetary systems.
Crowdfunding is especially beneficial for creators who cannot obtain funding from conventional sources.
Creators create massive amounts of free content, and that content is seen by local and international audiences. The consistency with which this content is produced converts regular viewers into fans, and for some, they become emotionally and mentally invested in the creators. For creators, content curation starts out as a hobby and gradually evolves into extra work with no source of income. Investing time and resources to maintain a fanbase and relevance becomes a chore, and the next step is to look for ways to monetize it.
The average creator uses all three of these monetization methods;
- Brand collaborations/sponsorships: The advantage is that they could make a lot of money if a big deal is done. The downside is that it’s very inconsistent, and brands that pay more prefer bigger designers.
- Sell merchandise and subscriptions: the advantage is to have several sources of income. The downside is that convincing the public takes time and most people stick to freemium.
- Advertising: Multiple ads can generate a lot of money, which is great, but seeing too many ads can derail the content and sometimes demotivate the audience.
Crowdfunding is a method for creators to directly solicit support from fans who enjoy their content. With so many popular crowdfunding platforms available to creators around the world, finding a platform designed specifically for Africans can be difficult. Crowdfunding is not popular in this part of the world because making average creators aware of crowdfunding is one thing, and creating platforms that meet the needs of Africans and their specific needs is another.
Bridge the gap with Fidia
Noting this imbalance and the lack of culture of crowdfunding among African creators, Fidia decided not only to build a platform to address this issue, but also to support African creators and their creative businesses (funding, education, support, etc.).
Soliudeen Ogunsola, Ajibola Akelebe and Gbadebo Bello
- Education: The number one way to let creators know they could win from crowdfunding is to teach them. Fidia is dedicated to spreading this gospel and pushing creators to confidently seek the support of their fans.
- Funding: The majority of nascent-stage creators struggle to scale and this is attributed to a lack of sufficient funding. Fidia intends to support creators by creating a financing strategy.
- Support: Creators, like all other entrepreneurs, need as much support and Fidia offers support for different levels of creators
the Fidia is a collection of tools that allow creators to showcase, grow, and monetize their work. Since every feature of the platform is essential for every creator, a payment link is a crowdfunding tool designed to bridge the gap, allowing creators to receive support from fans around the world. Highlighting content/creativity is extremely helpful for creators and establishes their credibility, which is what creator profile on Fidia does justice to, and creators looking to sell their digital products can do so through the product pages on Fidia.
Fidia works hard to create an ecosystem for creators that encompasses crowdfunding for creative work, as well as showcasing and growing creative businesses. With this vision, African creators can be sure that the bridge will be solid and unshakable.