Last April, Wadizlaunched "Let's," a team-based crowdfunding service that allows anyone to start a campaign. Let's is a team-centric crowdfunding service that connects people with big and small challenges and those who support them. The PM and service developer for Let's shares insights about the service, including how it differs from Wadiz existing crowdfunding platform, why it's called "team crowdfunding," and who the service is designed for.
The Launch of the Team Funding Service "Let's"
October 30, 2023, ‘Let’s create a world where anyone can take on a challenge,’ a task force (TF) team was formed. Many people hesitate even after deciding to take on a challenge. Refining an idea is hard enough, but they also worry about whether it will succeed, and the financial burden is impossible to ignore. Before they know it, they find themselves thinking, “Why am I even dreaming about this?”
I didn’t want the journey to achieving my dreams to be a lonely one. That’s why “Let’s,” a team funding service where anyone can take on a challenge and realize their dreams together,was born. The moment you join Let’s, you can easily launch a wide range of projects—from sponsorship, fundraising, donations, and campaign projects to fan communities.
The Difference Between Funding and Supporting
At Lets, we’ve given project creators and participants new titles: “Leader” and “Member.” This is because their relationship isn’t limited to simply launching a project and making a payment—they’re a team working together to achieve their dreams by closely sharing their progress with one another. This is precisely why Lets is called “Team Funding.”
Let's users are referred to as project leaders and supporters.
As you know, Wadizalready offers a crowdfunding service. With Wadiz crowdfunding service, people become backers by recognizing the potential of a product or brand and contributing funds. As a result, backers receive rewards that allow them to experience the product and brand.
Let's allows people who empathize with and support the stories of leaders taking on challenges to become members by contributing whatever amount they wish. They do so not because they want to experience the rewards, but because they want to show their support. That’s why it’s okay if the leader doesn’t have any rewards to offer.
What is the relationship between the leader and the members?
We hoped that even after members had made their donations, they would continue to follow the leader’s progress and keep cheering them on. After all, their ongoing support helps the leader achieve their goals and may even inspire them to take on new challenges.
It reminded me of the class president election. Candidates for class president make campaign promises about how they will lead the class effectively. If the students who support them vote for them, they are elected class president. Thanks to the students who put their trust in them, the class president is able to successfully carry out their campaign promises throughout the semester.
Just as A great class isn’t built solely on the efforts of a single class president. The same goes for the Let’s Project. Leaders and members simply have different roles, but they work together to achieve the same dream. We designed the platform so that supporting members can leave encouraging comments as they follow the project’s progress, and so that leaders can share updates through news posts.
A challenge you can start in just 3 minutes
I believed that for anyone to give it a try, getting started shouldn’t be difficult. So we streamlined the project setup process so you can create a project in just three minutes.
To start a Let's Challenge, simply enter a title and keywords, set the campaign duration and funding goal, write a description and upload an image, and choose whether to make it public—and you're ready to go. In other words, projects created without any paperwork or screening are published immediately and can start receiving support right away.
How to Start a Let's Challenge Project. All it takes is four simple steps.
Just as the sign-up process is straightforward, the Let's service interface is simple as well. We've removed information such as completion rates, challenge success rates, and rankings from the home screen. The project story screen displays only the text, without any embellishments.
I believed that what matters most in supporting people’s dreams is not the price, the success rate, or the ranking, but the story of the person taking on the challenge. It’s not because a project is popular or because the price is reasonable, but because I wanted to choose a project.
Let's Service Home Screen
Let's Dreams: Where Dreams Come True
Going forward, we want to make Let’s a space where leaders and members can actively communicate with one another. We’ll create a virtuous cycle of challenges and support—one where we explore ways to raise awareness of leaders’ challenges, and where members inspired by them take on their own challenges, leading to even more challenges emerging in the world.
All you have to do is dream and take on challenges! Let’s will handle the hard part. 😉
Want to hear the story of the running team “Jeongjik,” who took on the Let’s Run challenge? 👉 Click here
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