– Funding volume surged 367% compared to the second quarter's weekly average transaction amount… Funding scale by category: △Instruments & Music 68% △Performances & Festivals 20%
– 'Lava Smart Guitar,' with fans in 78 countries worldwide, surpassed 100 million won on Wadiz within 30 minutes of launch… Campaign runs until September 22
– Wadiz states, "We will showcase diverse projects with instrument makers seeking new distribution channels."
Smart guitars that even beginners can easily enjoy are currently enjoying a boom on crowdfunding platforms.
Funding platform Wadizrecently announced that its film and music category saw a 367% increase in average weekly transaction volume compared to the second quarter, driven by the successive success of 'musical instrument' projects in hobby-related funding.
During the vacation season of July and August, the number of transactions in the movie and music category surged to over 900, marking a steep growth of approximately 2.5 times compared to the same period last year. By category, ▲instruments and music accounted for the largest share at 68%, followed by ▲concerts and festivals (20%) and ▲movies (13%).
Following the pandemic, increased outdoor activities have led to declining performance in the indoor musical instrument industry. However, premium instruments with dedicated fan bases, such as smart guitars, are gaining popularity, particularly through crowdfunding platforms that allow for early market feedback. Instruments that are easy to learn independently and not overly difficult to play are especially attracting attention.
The 'Rava Smart Guitar', which began pre-orders on August 29th, surpassed 100 million won within 30 minutes of opening and claimed the top spot on Wadiz real-time ranking. Over 300 people simultaneously flocked to this high-end smart guitar priced between 1 and 2 million won, and it has now surpassed its funding goal by 4,261%, reaching 200 million won.
The Lava Start Guitar features built-in effects like tuning, sheet music, and drum sessions, allowing users to play freely on their own. Notably, Lava Music, which boasts users in 78 countries worldwide, officially launched in Korea Wadiz, receiving enthusiastic market response.
Lee Chan, CEO of Johnbird, which launched the Lava Smart Guitar, stated, "We confidently unveiled this product because we developed the world's first smart carbon guitar with a touchscreen, demonstrating sufficient competitiveness even on global platforms like Amazon. Through Wadiz, we were able to confirm the potential of the Korean market."
Wadizplans to expand its funding support for creative fields as new endeavors continue in hobbies like musical instruments and music. A Wadiz representative stated, "We will showcase diverse projects with instrument makers who feel constrained by the existing market and wish to challenge themselves through new distribution channels."
