Crowdfunding platform Kickstarter is launching a new venture that will eventually see its website move to a blockchain-based system at Celo.
In a Wednesday blog post, CEO Aziz Hasan and co-founder Perry Chen said Kickstarter would be developing an open source protocol that will live on the Celo blockchain. The two executives cited blockchain's efforts to minimize its environmental impact as it is carbon negative, in addition to the fact that it was open source.
"We are entering a significant time for alternative governance models, and we believe there is a significant opportunity to advance these efforts using blockchain," Chen and Hasan said.
Bloomberg reported that Kickstarter planned to transition its website to the blockchain platform in 2022, with the project announcing that it would publish a whitepaper "in the next few weeks." Kickstarter reportedly said that the migration will not affect any of the millions of users currently using the platform to fund projects including medical and fitness products, artwork, books and movies.
In addition, Kickstarter said it planned to establish a governance laboratory "to oversee the development of governance of the protocol." Executive Director and Co-Founder of the Purpose Foundation, Camille Canon, will lead the effort.
Related: A community-governed DeFi platform makes crowdfunding decentralize
With the emerging crypto space, certain projects that could have received money through Kickstarter have moved to distributed autonomous organizations. In November, a group called ConstitutionDAO tried to buy a printed copy of the first edition of the U.S. Constitution, in which 17,437 backers were issued government tokens called PEOPLE. Although the DAO was unable to make the winning bid, its the token price increased after the team behind the project allowed users to proceed with the tokens.
First launched in 2009, Kickstarter reported that 21 million people have pledged more than $ 6 billion to support 213,034 projects using the crowdfunding platform, including the Peloton bike and the 2014 Veronica Mars movie.
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