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Medical Marijuana Crowdfunding – Is It Worth It?

Crowdfunding is an interesting phenomenon. It is based on one single idea. If enough people believe in whatever it is that you are selling, they will invest in that idea/product/whatever and give you that initial financial boost you so badly need. If you’re not making any sense in elaborating your idea, then you shouldn’t be expecting anything in return. Then again, there are exceptions. There are people who manage to collect insane amounts of money by starting a potato salad campaign on Kickstarter, or maybe you’re in the mood to donate a couple of bucks in order to save the egg sandwich? Anyway, I guess you don’t have to be a genius to get some money for whatever it is you’re doing. That’s what the founder of thinks, anyway.

From Potatoes to Marijuana

With that in mind, this particular crowdfunding platform was founded on the principle that it intends to help medical marijuana patients in funding medical marijuana needs. The marijuana industry is about to explode, crowdfunding is kind of a big deal so, you know, let’s make it happen. Now, please keep in mind that crowdfunding is kind of a big deal, it should be taken seriously, regardless of all the potato salads and egg sandwiches out there. And yes, the marijuana industry is booming, there is nothing wrong about that. But, is specialized medical marijuana crowdfunding a truly great idea?

Well, in a nutshell, no. Just take a look at that website. Go, take a good long look at it. Doesn’t look like much, does it? That’s because it doesn’t make much sense. It’s amateurish with a laughable backend but, Steve Bloome, the founder, takes it really seriously as he made a press release saying that this website is intended for people with severe and debilitating illnesses, people who don’t benefit from standard medications. To back up his credibility, Steve is also a founder of the Illinois Medical Marijuana Network.

What’s The Point?

To be honest, there aren’t that many rules when it comes to CBD crowdfunding, or so it seems. I mean, you sure would have expected that marijuana funding would be enamored by some very strict guidelines, if for nothing else then for establishing trust between the business and the actual customers, providing them with a safety net of some sort at least. But that’s not going on here. In order to be considered for starting a campaign, you should just use your real name and social security number, real picture and must not use the platform for private commercial gain.

This website charges a 5% commission on funding projects, unlike Kickstarter who charges 10%. But that’s where the advantage ends. You could start your CBD/THC fudning projects on GoFundMe – where, if you search for “medical marijuana”, you get more than 70,000 results. Even at the Alexa ranking of the, it ranks only 3,602,018. In other words – only a small handful of folks worldwide find themselves visiting this particular website and that’s not really good for business, is it? So the question remains, was this really necessary?

by M.B

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