Latest in Bailout

Image credit:

Doomed Indiegogo campaign hopes to crowdfund Greece's debt relief

12 Shares
Share
Tweet
Share

Sponsored Links

Can crowdfunding do something better than make a beer cooler with a built-in Bluetooth speaker? That's what Thom Feeney believes after setting up an Indiegogo campaign to pay Greece's $1.7 billion loan fee that it owes to the International Monetary Fund. The project is hoping to raise the cash by encouraging all of Europe's 503 million citizens to kick in a few bucks for a postcard, a Greek salad or vouchers for a bottle of Ouzo. The page has been up for just over two days and already the figure stands at €200,000 ($223,000), although that's still less than a tenth of a percent towards the final figure.

If we're all being honest with ourselves, there's almost no way that the campaign can succeed, given the sheer size of the figure that needs to be raised. After all, the most successful crowdfunded project of all time is Chris Roberts' Star Citizen, and that's only pulled in $84 million, with the $20 million Pebble Time coming in second place. In addition, Feeney hasn't opted for flexible funding, so the only way that the money can reach Greece is if that target is met or exceeded within the next 10 days. Then again, you can never write-off people's desire to bloody the noses of bankers and help out their fellow man -- so maybe we're about to see the dawn of a whole new age of crowdfunding.

As you can see in the image above, the popularity of the page has been so vast that it's managed to break Indiegogo's servers. If you're hoping to add your donation to the pile, maybe give it an hour and then have another go.

[Image Credit: Getty]

Source: Indiegogo
Coverage: BBC, (2)
All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Comment
Comments
Share
12 Shares
Share
Tweet
Share

Popular on Engadget

Google's new terms of service will (hopefully) be easier to read

Google's new terms of service will (hopefully) be easier to read

View
Spin Master's new NinjaBots are cute little killers

Spin Master's new NinjaBots are cute little killers

View
Ford hopes you'll trade some privacy for discounted car insurance

Ford hopes you'll trade some privacy for discounted car insurance

View
Bethesda games leave GeForce Now streaming service

Bethesda games leave GeForce Now streaming service

View
Samsung temporarily shuts down phone factory following coronavirus case

Samsung temporarily shuts down phone factory following coronavirus case

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr