An entry from Word of the Year 2012
First we had the wisdom of the crowd, now we have their money.
Crowdfunding has proved to be surprisingly popular in the first week of voting, coming in the top three after First World problem and yarn bombing, and has remained in the top 10 words throughout the second and third weeks of voting.
It seems that there are many entrepreneurial souls out there on the internet who in exchange for a small reward of some kind will give financial support to an enterprise that captures their imagination – a book, a movie, and environmental or educational project. Perhaps this is how we fund the arts from now on. If we can just crowdfund a project to yarnbomb a broken TV, perhaps we have a First World problem?
noun the obtaining of small donations from individuals contacted through social networks, as to fund a project, support a cause, etc.
Also, crowd source funding. –crowdfunded, adjective
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