Kickstarter is creating a new company to build a crowdfunding platform using blockchain technology, Bloomberg reported Wednesday.

  • New York-based Kickstarter will switch its existing website to this new system, providing tools for users to create a competing crowdfunding website for creative professionals. It has yet to name the new company.
  • Development will start in the first quarter of 2022, and Kickstarter expects to transition its site at some point next year.
  • Kickstarter has not decided who will lead the initiative and has yet to choose a blockchain provider; however, citing a company spokesperson, Bloomberg said that the company is exploring various carbon-neutral or carbon-negative options for the platform.

Read more: Kickstarter ICO? Don’t Count On It Says Crowdfunding Leader

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