Australia launches first ever crowdfunding site - MusicNSW

The first ever crowdfunding site focused only on Australian talent has launched! It’s called ZoshPit.

Zoshpit is tailored to the artists, musicians and bands by bringing them together with their fans through while raising funds and awareness.

ZoshPit is the brain child of two friends, Paul Batten from Noosa, QLD and Julian Chong from Perth, WA. A passion for music and social technology brought the two together to create ZoshPit.

The site is not just for crowdfunding though. The creators want ZoshPit to be seen as more as a marketing tool that allows Australian musicians to connect and maintain relationships with their fans from all over the world. The fans that support an artist will receive rewards once the artists’ goals are met.

ZoshPit has decided on an “all or nothing” funding model which means that if the artists do not meet their goal, they will not receive any of the money. This being said, the artists will not have to pay any of the transaction fees that come from PayPal. If a project is successful, ZoshPit will charge a 5% service fee to the artist.

Artists that use ZoshPit are able to use it for any kind of funding related back to their music, such as buying a new piece of equipment, putting on a gig or making a new track.

Even though ZoshPit is currently in its beginning stages, the Co-Founders have big plans for the crowdfunding site. Along with crowdfunding, the artists will be able to sell downloads of their tracks and pre-sell albums to their fans. This type of fan driven support will allow the artists to retain greater control over their success and their projects.

The site has example projects up until they get their first real projects up and running. Batten and Chong have big ideas for the next stage of ZoshPit which will be coming out in the next few months.

Check out ZoshPit on Twitter, Facebook or their Website.

Written by MusicNSW Intern Hannah Jester.