Asked by Michelle Torres on Feb 18, 2024
Verified
John is raising money on a crowdfunding site,and in return for contributions,offers to let the contributor purchase prelaunch product.John is using a patronage model of crowdfunding.
Crowdfunding
The process of raising funding for a new venture from a large audience (the “crowd”), typically through the Internet.
- Familiarity with different models of crowdfunding
- Knowledge of the patronage model in crowdfunding
- Understanding the concept of crowdfunding
Verified Answer
AA
Abdullah AlmutairiFeb 18, 2024
Final Answer :
False
Explanation :
John is using a rewards-based model of crowdfunding, where contributors receive a tangible item or service in return for their donations.
Learning Objectives
- Familiarity with different models of crowdfunding
- Knowledge of the patronage model in crowdfunding
- Understanding the concept of crowdfunding
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