Crowdfunding Guide for First-Time Creators
Wadiz isSouth Korea’s leading reward-based crowdfunding platform, where creators launch projects before their products or services enter mass production, and backers help bring them to life through pre-orders. This guide will help creators new to crowdfunding understand the Wadiz crowdfunding model and the complete process from preparation to project launch.
01. What Is Crowdfunding?
Crowdfunding involves raising funds from a large number of supporters rather than relying on a single investor. Depending on how supporters receive rewards, crowdfunding is typically divided into four types: reward-based, donation-based, lending-based, and equity-based.
Wadiz usesthe reward-based crowdfunding model: creators launch projects before their products or services are fully developed, and backers make pre-orders through the crowdfunding campaign. The biggest difference from regular e-commerce is that production begins only after demand has been confirmed, rather than the other way around—creators can verify genuine demand before mass production, thereby reducing inventory risk and validating the market in advance.
| Crowdfunding Type | Core Mechanisms | Does Wadiz support this? |
|---|---|---|
| Reward-based | Receive a product or service after pre-ordering | Supported |
| Donation-Based | Donation-basedPure donations with no rewards | Not supported |
| Lending-based | Principal plus interest repaid | Not supported |
| Equity-based | Equity or dividend returns | Not supported |
➡️How is crowdfunding different from regular shopping?
➡️Wadiz Crowdfunding Terms Creators Need to Know
02. Can I launch a crowdfunding project without a finished product?
Creators can launch a project on Wadiz without a finished product. Projects can begin at the concept or prototype stage, because the essence of reward-based crowdfunding is not the purchase of a completed product, but rather the process of co-creating the product with backers.
| Preparation Phase | Ability to launch a project | Recommended Channels |
|---|---|---|
| Ideation Stage | Yes | Wadiz Funding |
| Prototype Stage | Yes | Wadiz Funding |
| Finished products in stock | Yes | Wadiz Pre-order / Store |
Even so, a certain level of proof of concept is still required to gain supporters’ trust. Even without a physical product, a compelling story and a clear production plan are enough to attract supporters.
03. Eligibility Requirements for Launching a Project on Wadiz
“Can I really do this?” is the question creators ask most often before launching their first project.
If you are an international creator, you do not need to register for a South Korean business license to launch a project.
Products with a track record of sales are also eligible. Creators who have already sold products through their own websites or other e-commerce channels can still launch projects on Wadiz, and it is possible to run multiple projects simultaneously.
| Status | Eligibility |
|---|---|
| Overseas creators without a South Korean business license | Eligible |
| Products with a sales history | Eligible, provided certain conditions are met |
| Products sold both domestically and internationally | Eligible, subject to certain conditions |
| Operating multiple projects simultaneously | Eligible |
| Operating both pre-orders and an online store simultaneously | Yes, subject to certain conditions |
➡️Requirements to Become a Wadiz Creator
04. When Is the Best Time to Launch a Project?
The safest time to launch a project isn’t “as soon as an idea pops into your head,” but rather after you’re truly prepared. The following four criteria can help you determine whether you’re ready to launch a project:
- Reward structure finalized—reward tiers, funding goal, and shipping schedule have been confirmed.
- Production feasibility has been verified—there is a working prototype and a clear production plan.
- The story has been clearly articulated—you can clearly explain why you’re creating this product.
- Promotional channels are ready—you have an early fan base that will respond immediately once the project goes live.
On Wadiz, the first three days after a project goes live typically determine 60% of the total funding amount raised,which is why the thoroughness of your preparation often foreshadows the project’s final outcome.
05. How long should the project run?
Wadiz recommends a standard project duration of approximately 20 days.
| Scenario | Recommended Cycle | Key Points |
|---|---|---|
| Creators with an existing fan base | 10–15 days | Short-term intensive promotion |
| Typical Projects (Recommended Default Duration) | 15–20 days | Time to build a user base and generate affiliate support |
| Rewards for high engagement or high average order value | 20–25 days | Gives supporters more time to learn about the project |
The project duration should not be determined in isolation but must be planned in conjunction with the “Coming Soon” pre-launch period (approximately 10 days) and the production and shipping schedule for rewards.
06. Crowdfunding Launch Steps and Timeline
One of the most common questions asked by first-time creators is, “How long does it take to launch a project?”
From preparing materials to launching the project,ittypicallytakes at least 4 to 8 weeks, depending on the product category and the speed at which materials are prepared.
| Steps | Content |
|---|---|
| 1 | Register for the Wadiz Maker Center and sign the Creator Agreement |
| 2 | Submit the project (write the story and upload the required materials) |
| 3 | Launch the "Coming Soon" page and collect "Remind Me" sign-ups (recommended duration: about 10 days) |
| 4 | Launch the project |
Information needed when setting the schedule:
- The official launch date for the project can be scheduled in advance.
- The project must run for at least 7 days.
- There are restrictions on setting the end date on a weekend.
- After the project ends, a fixed period must elapse before it can be sold through other channels.
- Launching a project officially from Monday to Wednesday is generally more advantageous for creators.
07. Wadiz Fee Structure
Wadiz uses a standardized fee structure consisting of a 12% service fee and a payment processing fee (4% + $99 for creators outside South Korea).
Creators launching their first project—that is, those with no prior record of successfully funded projects—are eligible for a 30% discount on the service fee. This discount applies to both domestic (South Korea) and international payment projects.
➡️Explanation of Wadiz Service Fees and Payment Processing Fees
08. Pre-Launch Checklist
Creators can use the following checklist to assess their level of preparation before launching a project.
Concept and Eligibility
- Understanding the Difference Between Crowdfunding and Regular E-commerce
- Select the appropriate Wadiz service type (Funding / Pre-order / Store) based on your product and circumstances
- Confirm the status of your business license registration and related requirements
Product and Rewards
- Verify the feasibility of the prototype or concept
- Design reward tiers and set a funding goal
- Work backward from the estimated shipping date to create a reasonable schedule
Scheduling and Promotion
- Plan a comprehensive schedule that includes a “Coming Soon” teaser period
- Develop a plan to engage early supporters immediately after the project launches
- Complete the signing of the creator agreement
09. Frequently Asked Questions (FAQ)
Q. What is the difference between Wadiz Funding and pre-orders?
A. With Funding, backers are charged only if the project reaches its funding goal, whereas with pre-orders, orders are confirmed regardless of whether the goal is met. Which option to choose depends on the product’s level of completion and available inventory.
Q. Can creators sell on other platforms while a Wadiz campaign is running?
A. Sales through other channels may be restricted while a Wadiz campaign is active. Creators should confirm in advance when they can begin external sales after the campaign ends.
Q. What happens after the campaign ends?
A. Products that successfully raise funds can be transferred to the Wadiz Store for continued sales. Since the product has already proven its fan base through the crowdfunding campaign, it typically generates revenue much faster than starting from scratch.
Get started right away on Wadiz.
A step-by-step guide from preparation to successful fundraising—now available on the Wadiz Maker Center.