FAQ
FAQ
What is HyperFundIt?
HyperFundIt is a crowdfunding platform that not only allows users to host campaigns but also allows users to crowdsource Influencer Marketing. We’re focused on raising funds and awareness for projects relevant to the Steem community.
What are the basic HyperFundIt terminology?
“Influencer”/”Influencers”: A User who has a Steemit account, with the intention to connect with Project Creators for sponsorship opportunities.
“Project Creator”/”Project Creators”: The monitor or creator of a Campaign.
“Supporter”/”Supporters”: A User who upvotes or donates to a Campaign; or is browsing through our platform with the intention to upvote or donate to a Campaign.
“Campaign”/”Campaigns”: The profile that represents a Project Creator’s active efforts in raising money for a particular purpose. Campaign is both the physical profile and the duration of time in which the profile is actively crowdsourcing and crowdfunding. A typical Campaign on HyperFundIt lasts for about 42 days including a 14 day “Hype Phase” and a 28 day “Funding Phase”.
“Hype Phase”: The 14-day time period in which a Campaign is launched for the first time to recruit Influencers and the participating Influencer begins to Hype the Campaign. The “Claim Reward” buttons are disabled, but upvotes are active and encouraged during this phase. The start date is flexible and can be changed or extended prior to the Hype Phase.
“Funding Phase”: The 28-day time period in which a Campaign can be shared to the public, the Support button is enabled and upvotes are still encouraged during this Phase. The start date is 30 days after the start date of the Hype Phase.
“Content”: Any materials created by Influencers in order to help promote a Campaign.
“Hype”: When an Influencer creates Content to help promote a Project Creator’s Campaign. The Hype Campaign/Message Project Creator button on a Campaign, allows Influencers to contact a Project Creator to request the opportunity to Hype them.
“Support”: When a User upvotes or donates to a Project Creator’s Campaign. Each Campaign has upvote buttons and Claim Reward buttons which allows the User to navigate to a SteemConnect page.
Why are there Influencers on HyperFundIt?
Marketing is one of the crucial elements in having a successful Campaign. In fact, the lack of marketing is one of the reasons why many great crowdfunding campaigns fail. Publishing a Campaign on HyperFundIt may allow you to be visible to regular HyperFundIt surfers, however, with the support of an Influencer on the Steem blockchain platforms, you can reach a much larger audience.
Influencers get a percentage of the donations made by each Campaign that they Hype. This gives them an incentive to promote the projects they believe in to their followers.
What is Influencer Marketing?
Influencer Marketing is when a business (or in this case a Campaign) hires an Influencer to help promote their business (Campaign) to their thousands of followers. This is how Project Creators will get more people to learn about and Support their Campaign.
How do I become an Influencer?
An Influencer usually already has a strong following on their social platforms. HyperFundIt accepts influencers from all Steem blockchain social platforms. To become an Influencer on HyperFundIt, if you have 65 reputation score or more, then jump into our Discord. Tell us your Steemit username and that you would like to be listed as an influencer. We will look into your account and make a decision based on your content, followership, and engagement rates. Steemit Influencers will be able to look for Campaigns they love and request to Hype the Campaign. Once approved by the Project Creator, an Influencer can create content and publish it on their own channels. Project Creators should remember to communicate all their wants or needs to the Influencer so they can create awesome content for you! Influencers will be compensated for their participation with the Payment Model that is published on the Campaign page.
When a Project Creator agrees to work with an Influencer both parties enter into a Influencer x Project Creator Relationship Agreement. Please visit our Legal page to read further about this Agreement as it is a contract that dictates the work relationship between both parties.
How do I host a Campaign?
To start building your campaign, click on the “Start Campaign” button on the menu bar. This will lead to a Campaign Request Form. All information you provide on this form will show up as is on your Campaign page. Once HyperFundIt approves of your Campaign, we will message you on Discord. Make sure you join us here.
What are the criterias for starting a campaign?
HyperFundIt welcomes all different kind of projects. Check out our campaign guidelines for more info!
How much does it cost to host a Campaign?
Building and hosting a Campaign costs nothing! Once a Campaign ends, HyperFundIt will collect a 15% service fee from the amount of donations raised by the Campaign. Our risk free model ensure that if you’ve raised no money, then you owe no fees.
What are the payment models for Influencers?
There are four payment options: Hyper Funding, Half and Half, Heavy Marketing, and Custom.
HyperFunding transfers 65% of the funds raised to the Project Creator and 20% to the Influencer.
Half and Half transfers 42.5% of the funds raised to the Project Creator and 42.5% to the Influencer.
Heavy Marketing transfers 20% of the funds raised to the Project Creator and 65% to the Influencer.
The Custom model allows for the Project Creator to decide what percentage they wish to keep and what percentage they wish to compensate the Influencer with.
*With all payment models, HyperFundIt will receive a 15% service fee.
Can I edit my Campaign after I’ve submitted my request?
You may edit your Campaign at anytime PRIOR to your Hype Phase. To edit your Campaign, simply edit your submission post. If you post expires (7 days), then inform us on Discord.
Can I cancel my Campaign?
You may cancel or end your Campaign at anytime. To do so please contact us on Discord. If you cancel after your Hype Phase Start Date, there will be a cancellation fee of 1% of your total Funding Goal if there is an Influencer that you have approved to participate in your Campaign. This will be given to the Influencer as compensation for their time spent creating content for you. If you haven’t recruited any Influencers at this point, then you’re all good!
If you cancel a Campaign after your Funding Phase Start Date, all donations will be returned to the Supporters. You will also have to pay the Influencer Fee according to the Payment Model you chose (to any Influencer who has already published content to promote your Campaign) out of your own pocket on top of the Cancellation Fee. The Influencer Fee will be based on the amount of money you’ve raised at the moment of your cancellation.
When do I get my money?
HyperFundIt will distribute the money raised to the Project Creator and Influencers once the Campaign ends. SBD will be transferred instantly, SP will be delegated while STEEM is powering down. When there is enough STEEM, then STEEM will be transferred and SP will become undelegated.
How do I donate to a campaign?
To donate simply click the desired Claim Reward button on the campaign you wish you donate to. This will bring you to a SteemConnect page to confirm and make your transfer to the @hyperfundit.com account.
After transferring to @hyperfundit.com, we will check our Steemit account activity to validate the transfer and then document the selected reward.
Can I get a refund?
Donations made to a Campaign can be refunded in full up until 48 hours prior to a Campaign’s end date & time. To get a refund please contact us on Discord. However, once the Campaign has ended and the money has been distributed to the Project Creator and the participating Influencer, HyperFundIt no longer can refund your donation. If you would still like a refund you may contact the Project Creator and request for a refund directly. The Project Creator is not obligated to refund you at this point.
How can I report a fraud claim?
If you have information about a Campaign being fraudulent please contact us on Discord. If a Campaign is found by HyperFundIt to be fraudulent, all donations will be refunded to the Supporters and the Project Creator’s account will be banned from our services.
How does HyperFundIt guarantee that a Project Creator will follow through with their project as described in the campaign?
HyperFundIt thoroughly investigates each Project Creator when they submit a Campaign Request Form for potential fraud. However HyperFundIt cannot guarantee that a Project Creator will follow through on successfully completing a project in the way they’ve described on their Campaign. This is because HyperFundIt is a venue that provides individuals the opportunities to take risks to create new things. Many projects depicted in the Campaigns on HyperFundIt are in early stages of development. All Supporters should keep this in mind and realize they are Supporting the creation of something new, which comes with potential risks, not buying from an online store.
How do I know the Project Creator I’m Supporting is who they say they are?
Supporters and Influencers should always do their research before Supporting or Hyping a Campaign. You may reach out to the Project Creator with any questions or comments you have about the Campaign. To do so, private message them after joining our Discord. Be active in the comment section and read what others have to say about the Campaign, follow the Project Creator on their Steemit account and engage with the Project Creator. If you noticed the Project Creator does not provide much information about their project or does not engage with followers on their account, then take that into consideration before Supporting or Hyping a Campaign.
What if my question wasn't answered here?
Contact us on Discord we would love to hear from you!
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