Art Basel Crowdfunding Initiative was launched in partnership with the US platform Kickstarter in order to catalyse much needed support for outstanding non-commercial art projects.
Project creators from non-commercial arts organisation worldwide prepare crowdfunding campaigns – in line with the admission criteria of Kickstarter – and submit the application to Art Basel to be included in the Art Basel curated page on Kickstarter. If the Art Basel jury takes a positive decision, the project is promoted by Art Basel on Art Basel’s curated page, during art fairs (e. g. the crowdfunding lab) and other media channels (articles, social media).
The initiative generates added value for project holders in non-commercial arts by an enhanced global visibility for the arts endeavours as well as a wide support by offering a range of services in order to professionalise the crowdfunding campaigns and reach out to additional funds raised from the crowd.
Art Basel benefits also from the initiative in the sense of Corporate Social Responsibility by branding itself as a non-commercial art supporter. Supporting the entire art world ecology, furthermore sustains the art market in the long term. It is expected that Art Basel can also provide its audience a year-round engagement with exciting projects happening around the world.
During the first two years of implementation, the crowdfunding campaigns on Kickstarter having benefit of the Art Basel label have reached almost US $ 1.4 million (€ 1.3 million).