"Advanced hobby 'Musical Instruments' attract funding surge" Wadiz, Film and Music category surges 2.5x year-over-year
"Advanced hobby 'Musical Instruments' attract funding surge" Wadiz, Film and Music category surges 2.5x year-over-year
- Rises 367% against weekly average transaction in Q2… Funding scale by category: △Musical instruments and music 68% △Performances and festivals 20%
- 'Lava Smart Guitar' with fans in 78 countries worldwide breaks 10 million won in 30 minutes of Wadiz launch… Runs through September 22
- Wadiz "Will showcase diverse projects with musical instrument makers seeking new distribution channels"
Smart guitars that beginners can easily enjoy are recently experiencing a boom on crowdfunding platforms.
Wadiz, the crowdfunding platform, recently announced that 'Musical Instrument' projects have continued to succeed in the hobby category, with Film and Music category rising 367% compared to the weekly average transaction in Q2.
The number of transactions in the Film and Music category during the summer vacation season of July and August surpassed 900 cases, increasing approximately 2.5 times year-over-year, recording steep growth. By category, ▲Musical instruments and music accounted for the largest share at 68%, followed by ▲Performances and festivals (20%) and ▲Film (13%).
After the endemic period, the musical instrument industry saw declining performance due to increased outdoor activities, but advanced instruments with dedicated fan bases like smart guitars are gaining popularity centered on crowdfunding platforms where market reactions can be understood in advance. In particular, instruments that can be learned individually and are not difficult to play are attracting attention.
The 'Lava Smart Guitar,' which started pre-orders on August 29, surpassed 10 million won in 30 minutes of launch and took first place in Wadiz real-time rankings. As approximately 300 people rushed to the high-priced smart guitar in the 1 to 2 million won range, it has now surpassed 200 million won in funding, which is 4,261% of the target.
The Lava Smart Guitar is characterized by having built-in effects such as tuning, sheet music, and drum sessions, allowing solo free play. In particular, Lava Music, which has users in 78 countries worldwide, made its official domestic launch on Wadiz, and received warm market response.
Lee Chan Zongbird, CEO of Lava Smart Guitar, stated "We confidently presented the world's first smart carbon guitar equipped with a touch screen and demonstrated sufficient competitiveness on global platforms such as Amazon, and through Wadiz we were able to confirm the potential of the Korean market."
Wadiz plans to expand funding support in the creative field, as new attempts continue in the hobby areas of musical instruments and music. A Wadiz official stated "We will showcase diverse projects with musical instrument makers who feel limited in existing markets and wish to challenge themselves with new distribution channels."