Arts crowdfunding platform

Abstract

An online arts crowdfunding platform that allows art enthusiasts to join for a fee starting at £5. Complementary access is provided to the International Body of Art (IBA) forum. Art enthusiasts can en

Description

Title providing an indication of the invention: This invention relates to a platform for raising funds for small artists. Introduction and background to the invention: There is an inherent difficulty for small and emerging artists to secure funding and investment. Various factors contribute to this including the privatisation of culture, lack of accessibility for artists, and market control of cultural output. In the past year alone, INTERNATIONAL BODY OF ART (IBA) collaborated with over 150 artists. When asked about their pain points, without exception, 99% of them highlighted their two biggest challenges: obtaining funding and gaining exposure. This insight prompted further research. The arts in the UK are controlled by elite classes, private capital, and more recently, large corporations, in regard to both the market and large institutions. This means both access for artists and presentation to the public is controlled by a small demographic that does not represent the wider UK - a place of hugely varied culture and peoples. When the people controlling the sector represent specific backgrounds, we end up with a homogenous set of values, attitudes, and tastes within the art world. Within the art world a lot of opportunities run on a word-of-mouth basis, and they're difficult to find out about unless you are in the right spaces (in central cities and at an art school), which are generally financially inaccessible to many. Furthermore, an artist's worthiness in our current time is largely driven by the market; a works value is therefore driven by what a collector perceives an artist's financial value to be. The market is then driven by instantly recognisable works for the sake of ease of sale. This means that within the traditional art world many artists are pushed into reproducing easily recognisable work, rather than taking risks and making innovative, honest, and creative work. To overcome these problems, IBA has developed a unique crowdfunding platform that stands out as a transformative force in supporting artists, bridging the gap between artistic visionaries and those who appreciate and invest in their work. Recognising the inherent difficulties for artists securing funding, our platform represents a groundbreaking solution and eliminates the cumbersome process for artists to seek funds from traditional sources, such as the struggling Arts Council England or navigating the challenging landscape of private funding. Summary of the invention (statement of invention): IBA has streamlined the path for artists to access crucial financial support. The platform works by providing direct support for artists, a dedicated space for them to share their projects globally and address issues they are passionate about. It offers a groundbreaking opportunity for young, emerging artists to secure funding that may be challenging to obtain through traditional channels, such as the Arts Council England. The platform is a method of supporting emerging artists in alternative ways. It works on a crowdfunding basis, in that we are engaging the public, institutions, and corporations to fund the projects that they want to see come to life. It will include a diverse cohort of ambitious projects from exciting emerging artists. The projects are all socially engaged, utilise a variety of new mediums, and represent artists from a very diverse range of backgrounds. On the platform, IBA offers the public the opportunity to directly channel the artists that they would like to see grow. This takes the power of our cultural direction out of the hands of the 1%, and puts it into the hands of the public, in turn effectively redirecting the art world to be more representative of a wider society. The entry points to funding on our platform moreover start at £5, aiding the deconstruction of the opinion that art is an inaccessible and luxury good. By virtue of the platform running online, and not discriminating against an artist's educational background, it offers open and unbiased opportunities to all. The application for artists to secure funding now takes no more than two minutes, eliminating the historically arduous journey of securing support from traditional sources. For art enthusiasts, the platform offers an unparalleled opportunity for engagement. The process, taking less than a minute, empowers enthusiasts to support promising emerging and underrepresented artists, addressing issues they passionately resonate with. During the crowdfunding period, each artist will run a workshop for the public to attend which demonstrates the importance of their topic. This will be a great community space with a range of creatives involved. Arts enthusiasts can view the projects online, select the projects they would like to fund, select the amount, and make an online payment. Funders are given complimentary access to the IBA forum, where they can immerse themselves in diverse art discussions, engage directly with IBA's team, and connect with the featured artists. Unlike lengthy and bureaucratic processes with traditional funding sources, IBA crowdfunding platform provides a faster and more accessible way for artists to receive financial support. It addresses the significant cuts in art funds such as the 50% reduction in the UK in 2021, by providing an alternatives avenue for artists to secure funding. The platform is the first of its kind, exclusively focusing on supporting artists and their needs in the realm of visual arts. The platform also allows artists to apply in a casual manner. Traditional funding requires a laborious process that requires artists to understand specifically what needs to be mentioned - this, again, requires some educational understanding of how to present your work. IBA's application process will works with artists in a casual and collaborative manner to understand who they are and what their work is trying to achieve. Working through simple proposals, video calls, and meetings, this process is friendly, accessible, and unbiased. On the platform artists are able to commit to research, development, and production of works that they might not have the freedom to create within traditional settings, as with us they do not have the ties of dictation of collectors or the traditional market. This allows them to produce their most honest work, and with more freedom than they have been previously allowed. This ultimately, again, means shifting the power to control the arts out of the hands of the elite classes, and putting it instead into the hands of the public and the artists. It moreover means enabling an exciting, innovative, and socially (rather than commercially) driven art world. The platform breaks down barriers in the exclusive art market, allowing art enthusiasts to actively participate in supporting emerging artists and shaping the art projects that come to life. It offers art enthusiasts a unique experience by providing rewards that allow them to go behind the scenes with the artists, have their names mentioned on projects, and witness IBA's exhibitions coming to life. The platform also differs from traditional crowdfunding platforms by being specifically tailored for the visual arts, creating a community where art enthusiasts have a say in supporting and bringing creative projects to fruition. By focusing on these advantages, the IBA crowdfunding platform stands out as a transformative force in supporting artists, bridging the gap between artistic visionaries and those who appreciate and invest in their work. The platform has been designed based on research findings carried out by IBA into the UK's art scene. IBA conducted research across a nationally representative cohort of 2,090 respondents and complies with the British Polling Council. The findings outline the struggles artists face within the traditional art market. By taking the next step and revolutionising the funding process for artists with our platform, we aim to lead the way in conducting more extensive research. We envision these changes to be adopted by the wider market, fostering a more inclusive industry. While securing funding is crucial for artists to continue creating, we also believe it is vital for artists to make a living from their practices.

Claims

An online arts crowdfunding platform that allows art enthusiasts to join for a fee starting at £5, and gain complementary access to the IBA forum, engage directly with the team and featured artists, and provide funding for emerging artists, who in turn run workshops that feature their art, therefore providing artists with opportunities for exposure, breaking the barriers they traditionally face to secure funding, and deconstructing the opinion that art is an inaccessible and luxury good.