News
Intro to Elrax
Crowdfunding as a concept has already become an integral part of the modern Internet. Many innovative and creative projects have become a reality, many people have been able to receive financial support in difficult times, and all this is due to the common efforts of thousands of people. This is truly beautiful and inspiring.
We also believe that this is not the limit, and crowdfunding space still have room for innovation and improvement. Therefore, we would like to list some vectors in which we see possible improvements:
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Modernity: Crowdfunding platforms only partially use the video and mobile trends that dominate popular social networks, remaining more text-based and web-oriented. And this makes it difficult to attract more backers;
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Transparency: Often backers do not understand how to monitor the progress of project development and the use of raised funds;
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Communication: On many crowdfunding platforms, direct communication between backers and project creators is limited, making it difficult to ask questions or provide feedback;
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Innovation: New features and bold solutions are rare in crowdfunding platforms today. Which in turn prevents the crowdfunding concept from reaching its global potential.
About Elrax platform
Our mission at Elrax is to make crowdfunding easy and enjoyable for everyone. Our idea is to create an open-source video platform for crowdfunding, progress tracking, and feedback collection. Through it, we want to make a powerful push for crowdfunding to become even more popular in the world.
We aim to create an application that will become standard for users on a par with YouTube, Instagram, and TikTok. But unlike them, we will promote our “Don’t just watch, but participate” approach. Each visit, whether short or long, will give users the feeling that they are part of something bigger, something important to them, society, or nature.
Core features of the platform
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Open-source
We believe that ultimate crowdfunding platform should be open-source in order to be fully consistent with its core altruistic nature. The community needs to be given ways to participate in the development of new features of the platform. -
Gamified development
We will make the development of our platform fun and exciting, users will be able to earn rewards for their participation, read funny comics and communicate directly with our developers. -
Development series
Creators will be able to start posting videos about their project long before the start of crowdfunding, showing the initial development, thereby introducing future bakers to the formation of the project. -
Crowdfunding videos
Creators will be able to post videos calling for fundraising for their project. These videos usually briefly introduce the project and show plans for future development. Also in the description, users can read about the rewards that backers can receive, more detailed plans and frequently asked questions. -
Crowdfunding updates
We ensure transparency by requiring project creators to upload video updates at most important moments in the development process or when spending crowdfunded money. -
User participation videos
Not only the creators of crowdfunding campaigns, but all users will be able to post their videos on the platform to express their opinion, give useful advice, or participate in competitions and events. -
User profiles
We value backers just as much as project creators. Our platform features user profiles that allow users to track and publicly showcase their participation, highlighting activities such as donations, comments, likes, rewards, and subscriptions. -
Voting
A feature that combines voting with crowdfunding. Users will be able to influence the project’s trajectory by participating in key decisions while contributing funds.
What’s next?
We understand that the creation of this platform is a very ambitious goal and we still have a lot to do, but we are optimistic about the future because we know that we are not alone on this path and together we can make Elrax a reality!
Don’t miss new updates from our team, there are still a lot of interesting things ahead.
Mastodon: https://mastodon.social/@elrax
Twitter: https://twitter.com/elraxcom
Instagram: https://instagram.com/elraxcom
