What are the current trends in overseas crowdfunding?

July 11, 2023 | LOCAL, Adding Value

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How much do you know about funding platforms?

How many crowdfunding platforms do you know?

"You don't know a thing!"—that's not true. If you're reading this right now, you must at least knowWadiz, or even if you've only read two lines, you're slowly getting to know it.
If there are one or two, Wadizwould be one of them, right?
Three or four would be great, wouldn't it? I'm curious to know which platforms you've tried.
If it's more than that... Are you perhaps in the industry?

Crowdfunding is a term many people have heard of by now, but you might be wondering , “Are there really three or four platforms out there?” Well, the global crowdfunding market is actually growing. Crowdfunding platforms exist in various countries, including the United States, the United Kingdom, China, and Japan! The global crowdfunding market was valued at $17.4 billion in 2021, and it is projected to reach $32 billion by 2025. (Source: Economy Chosun, Issue 482)

Makuake, a crowdfunding platform from a neighboring country

Since you’ve got to play in the big leagues, I’m thinking of taking a quick look at some global funding platforms… (Which one would you recommend?) Japan’s crowdfunding platform ‘Makuake.”

Source: Makuake

🔎 A Quick Guide to Makuake in Just Five Lines
A reward-based crowdfunding platform founded in 2013 by Ryotaro Nakayama, CEO
Listed on the Tokyo Stock Exchange in December 2019
Successfully raised a cumulative total of 75 billion yen (approximately 684.8 billion KRW) in funding (2023); 12 million quarterly active users (as of 2022)
Establishment of the Korean Branch in 2021
Focus: A platform where you can be among the first to experience new products and services not yet available on the market

Wadizand Makuake, which formed a strategic partnership in 2018, recently celebrated their 5th anniversary a new partnershipto strengthen their collaboration. Now, domestic crowdfunding success stories recommended Wadizcan quickly and easily launch their funding projects on the Makuake platform. Thanks to this, small brands from both countries opportunities for global expansion.

👉 Read the related article (link)

What are the current crowdfunding trends in Japan?

Every day, Makuake features the top 10 projects in its "Today's Rankings" section based on internal criteria.

The "Today's Rankings" section on the Makuake homepage

I’ve selected the most intriguing and popular projects that have made it onto the rankings over the past month or so—the ones I’d love to bring to Korea.

Private glasses that turn any place into a theater

Source: Makuake

📍 Project Information
Enjoy the ultimate viewing experience! "VITURE One"—a private theater featuring high-definition video and high-fidelity audio (Enjoy the ultimate viewing experience! "VITURE One"—a private theater featuring high-definition video and high-fidelity audio)
As of July 7, 114,316,900 yen (approximately 1.04221 billion KRW) has been raised, with 2,525 supporters participating.
Today's Top 10 Rankings 9th Edition (June 16–July 7, 2023)

These are truly global glasses that have made their way to Japan after launching in Europe and the U.S. They’re XR—or eXtended Reality—glasses. It feels like just yesterday that we first learned about VR (Virtual Reality) and AR (Augmented Reality), and now here comes another new type of glasses. (The digital world moves so fast! 📺)

Extended Reality creates a broader dimension of reality by allowing users to freely switch between virtual reality and augmented reality or choose to combine them. As a result, when you put on these glasses and connect them to a smartphone or PC, a large screen equivalent to 120 inches unfolds right before your eyes. With high-definition video and high-quality audio delivered through a collaboration with a leading U.S. audio brand, wouldn’t these glasses alone transform any space into a massive movie theater or a gaming world?

The Japanese crowdfunding market is currently experiencing a boom in membership tickets for popular restaurants

📍 Project Information
Project 1
[Address Not Disclosed · Exclusive Membership System] Sangenjaya’s Exceptional Yakiniku Restaurant Is Recruiting a Limited Number of Additional Members to Celebrate Its 1st Anniversary (【Address Not Disclosed・Exclusive Membership System】Sangenjaya’s Exceptional Yakiniku Restaurant Is Recruiting a Limited Number of Additional Members to Celebrate Its 1st Anniversary)
As of July 7, 11,266,000 yen (approximately 183.63 million KRW) has been raised, with 898 supporters participating.
Project 2
The ultimate taste for 10,000 yen. The exclusive members-only restaurant "Sushi Aka" is expanding to Nagoya with a head chef from a renowned establishment.
As of July 7, 23,194,600 yen (approximately 211.66 million KRW) has been raised, with 847 supporters participating.
Project 3
Sake Hidejiro’s Second Location, “Izakaya Hidejiro,” Has Opened! Limited-Time Offers Including Special Menus and Reservation Vouchers (酒秀治郎の2号店「居酒屋ひでじろう」がオープン！特別コースや予約権など限定募集)
As of July 7, 11,266,000 yen (approximately 102.81 million KRW) has been raised, with 425 supporters participating.

I spotted restaurant membership projects on the “Today’s Rankings” page again today—just like yesterday and the day before. What was interesting was that, upon closer inspection, they were all different projects. That’s when it hit me: Ah! Restaurant membership crowdfunding projects are a trend in Japan!

True to its reputation as the birthplace of omakase, premium, private dining experiences seem to be quite popular. In the case of “Chouzetsu Yaki Motomoto” in Sangenjaya, the restaurant reportedly used Makuake crowdfunding to recruit members even when it first opened in 2022. They say they returned to Makuake just one year later because they were inundated with inquiries from people wanting to become members.

Tokyo’s famous izakaya, “Suru Hidejiro,” has launched a crowdfunding campaign to fund the opening of its second location, offering exclusive VIP private room reservations and a special pairing course available only through Makuake. It feels a bit like a members-only club for reservation-only restaurants. If I ever get the chance to travel to Japan, I’ll have to consider backing a restaurant crowdfunding campaign on Makuake.

Japan is also preparing for this summer's heatwave! Cooling T-shirts

Makuake Funding Trends

📍 Project Information
Caballos—Winner of the Prime Minister’s Award! The ultimate, multifunctional, and comfortable T-shirt! Super-Cooling T-Shirt
As of July 7, 13,210,560 yen (approximately 120.56 million KRW) has been raised, with 1,596 supporters participating.
Selected for the Top 10 Rankings 4 times (June 16–July 7, 2023)

As the years go by, the summer heat seems to get more intense. These days, I find myself reaching for nothing but foods that help cool me down, like ice, ice cream, and cold noodles. That’s why this project really stood out to me in today’s rankings.

The reward was a cooling T-shirt. I guess I wasn't the only one who thought so. As soon as the project launched, a single T-shirt shot to the top of the daily rankings, and the entire stock sold out. Its main selling point is that it uses high-cooling-effect fabric, allowing you to comfortably get through the summer when extreme heat is expected. The maker conducted an experiment where the surface temperature dropped by 15 degrees just 30 seconds after placing a hand on the T-shirt’s fabric. I suspect this experiment is what won over the hearts of supporters exhausted by the heat.

There was a similar crowdfunding projectWadiz. It featured the Ice Shell short-sleeve T-shirt, made from a functional fabric with a cooling print that provides a refreshing feel. (Project Link) After raising 100 million won in its first funding round, it proved so popular that two follow-up projects were launched. I guess there’s no business like the heat business—it’s a universal truth.

Through project collaboration, imagination becomes reality

Most of the rewards for projects that made it into the top 10 on Makuake were durable goods such as tech gadgets and fashion items. Wadiz, character merchandise, beauty products, and e-books were popular in the first half of this year (based on funding amounts raised in the first half of 2023).

I had no idea the trends in the Japanese and Korean crowdfunding markets were so different!
It was surprising, but also exciting.

Thanks to this strategic partnership, Makuaque’s unique crowdfunding projects may now launch Wadiz, and Wadiztop projects may be introduced to the Japanese market. A new crowdfunding trend is emerging as projects that are similar yet distinct—each with its own unique appeal—come together. Isn’t that exciting?

What kind of projects from overseas crowdfunding platforms would you like to see in Korea? 🙄
Let your imagination run wild! Who knows, it might just become a reality.