Frequently asked questionsWhat is WEFUND? How does WEFUND work? Do I need to do a video? How long should my video be, what format etc? How do I submit a project? How do I back a project? How does the pledging work? Why do people back projects? Are there any selection criteria? Can I see what's going on in my area? What are the costs? What happens if I don't hit my funding target in time? Does WEFUND keep the Intellectual Property in the projects? Does WEFUND keep any of the profits associated with the project? Are project creators allowed to sell a stake in their project? What's the minimum pledge? What's the maximum pledge? How much do Paypal take?
Support related FAQ'sI'm having difficulty uploading an image? Do I need a YouTube video? I'm having problems getting funds through PayPal? I just need some help? I have an error message on the website?
WEFUND is transforming arts funding by making patronage into a retail experience. No longer do you have to be a millionaire to support the arts, anyone with a pound can make a meaningful contribution to the artistic life of the nation – and receive something tangible in return.
Project creators post a short video about their project up on the site. Like a trailer for a film, this snippet tells the public what the project is about, why people should back it, and what they'll get in return. Next, they come up with a series of perks to incentivise people to back their project. Lastly, they direct all the fans, friends and family to their WEFUND page and encourage them to buy one of the perks. Only if they hit they fund raising target does the project creator get the money. If you don't hit your target, you don't get the money.
Yes. The video is key. It doesn't have to be professionally edited or anything. It's goal is to convince people to support your project. Make sure you explain what you're planning to do and what you're going to spend the money on. Try to convince the watcher that your project is really worth supporting. Maybe you focus on the perks you're offering, or the fact that you've done this kind of thing before, or the opposite...
We recommend limiting the size of your video to 100mb.
Keep it short.
What format? check this page http://support.google.com/youtube/bin/answer.py?hl=en&answer=55744
Fill in the information about the project in each of the tabs (Story / Rewards / Funds / About You ) and when you're ready to go live, go to the Review tab and submit your project for approval to go live.
Click on the project that you like. Choose a perk that you like and can afford.
Click on "Wefund this project".
On the next page you'll be asked to enter your Paypal account email address. If you don't have one yet, click on the link to go to Paypal to set one up.
At this time, we only accept payment through Paypal. This means we don't have to use the normal banking system, which would mean holding client funds. When you use wefund, you are pledging money directly to the project creator, not to us. We take our (5%) commission from them, not you. We never hold your money on their behalf. If the project you're backing doesn't hit or exceed the target, then the authorisation you have given us to pass money to the project creator simply lapses. There is no need for a refund as you will not have paid anything. You only pay if they hit or exceed your target.
When you say that you want to buy a particular perk, you have to go through the payment mechanics of Paypal. However, although you pledge your support, the money doesn't come out of your account unless and until the project hits its target within the timeframe. If it does, all the backers' cards get charged and the money passes immediately to the project creator, if it doesn't all the pledges are cancelled and no-one is charged anything.
Because they get something tangible in return: like a ticket to the show, or a back stage pass, or a mention in the programme. They're more involved with what's going on.
Not really. No hate-speech, no holocaust denial – nothing racist or inflammatory or offensive. WEFUND is for creative projects, but that can be very broadly defined. A film? Sure. A chair? Definitely. A book, a play, an installation? Of course. A new company? Sure, but you can't sell shares (one of our first projects sold shorts instead of shares). You can't just use it to say, I want to stop working , can you all give me a pound. We're looking for artists, architects, film makers, designers, carpenters, actors, singers, writers, illustrators, photographers, curators, maybe even the odd adventurer.
Yes. Use the map feature.
WEFUND does not charge anyone anything if a project does not meet its funding target. If it does, WEFUND charges the project creator a 5% fee.
All your pledges are cancelled. You receive nothing. No-one is charged anything. It is thus a risk free way of testing ideas.
No. WEFUND only charge 5% of the amount raised.
No. WEFUND is not allowed to facilitate investments of any kind. This is patronage. Not charity, nor investment, but good old fashioned patronage.
Paypal charge 3.4% and 20 pence per transaction. So, (if successful) at the end of your campaign, every time you receive a payment Paypal will send it to you minus 3.4% and a 20p fee.
Support related FAQ's
Firstly, you need to check a few things:
1. That the image is less than 2MB in size
2. That the image name has no funny characters or spaces, such as: my filename#(v2)!.jpg
3. A good quality image will be wither a .jpg or .png file, make sure you use one of these and make sure the file extension is lowercase like .jpg and not .JPG.
4. That the image is no wider than about 800px and taller than 800px, very wide images are great for print, but less so for websites.
Yes, having a project video helps to authenticate the project you are posting and allows us to approve your project and allows potential funders to see what you are doing, a bit about who you are so that they can engage with you and your project.
In the first instance, there may be an issue with your backers payment method, it may be that a card they used has since expired by the time your project is fully funded. If you can contact your backer first to confirm this and ask them to supply PayPal with new payment details. If this does not work, please contact us via the support tab on our website or via email@example.com
OK, you are in the right place, firstly, you can use the support tab on the left hand side of our website, or email us at firstname.lastname@example.org. We're afraid that at this time, support requests via Facebook and Twitter is not the best way to receive help.
We're sorry about that, to help us diagnose what went wrong, please email email@example.com and include a screenshot of your error, along with as much information as you can about your project, what you were trying to do, your name etc. We will look into this and get back to you as quickly as we can.