Frequently asked questions - general
It is a project incubator that looks to hatch projects via crowdfunding actions. It also offers expert advice such as Crowdagency.
Oh, and another thing, we call all projects on our platform with an associated fundraising campaign "projeggts".
There are two types of projeggts: All or nothing and Everything counts.
All or nothing: at least 100% of the funds requested must be achieved so that the contributions can be collected and the rewards validated;
Everything counts: at the end of the fundraising period, the contributions are always collected and the rewards validated.
If an All or nothing projeggt hatches it means that it has reached or overcome its funding goal. All contributions will be collected and the funders will receive their rewards.
Everything counts projeggts always hatches and collect funds, rewards must be also always delivered by the projeggts creator.
All projeggts has a time period (in natural days) and a collecting goal to reach. Bank cards are only charged when the period ends and only if the projeggt collects funds.
Crowdfunding is a way in which people can support a projeggt by contributing funds that help the projeggt reach the required fundraising target. In exchange, funders will receive unique rewards offered by the projeggt creator.
Anyone can fund a projeggt by contributing part of the target required to make it a reality. The different options for contributing funds to a projeggt will be published on the projeggt homepage via the platform; each option will have rewards associated to it. If the projeggt is hatched, the contributions will be collected and the funders will receive their rewards.
The creators of a projeggt promise to grant a series of rewards for each contribution made to the fund. Projeggt funds may be contributed by funders and each contribution will entitle the contributor to the corresponding rewards. Said rewards will only be delivered when the projeggt is hatched, and in the same way, the contributions from funders will only be collected if the projeggt is hatched. This is why, until the campaign period for the projeggt has elapsed, we talk of a "contribution pledge" rather than a contribution.
The funds pledged by funders will only be collected when 100% (minimum) of the fundraising target set by the projeggt creator has been achieved. In the same way, the rewards promised by the projeggt creator will only be awarded when the projeggt reaches 100% (minimum) of the target set.
It is a risk-free option for the funders since the funds will only be collected if the projeggt is hatched. It is also risk free for the creator who does not have to deliver their rewards if the projeggt is not hatched.
The projeggt is always hatched and therefore the funds are always collected and the rewards handed over. In addition, certain rewards may be linked to obtaining 100% of the fundraising target (in which case this will be explained in the description of these rewards).
This option has guaranteed rewards since the projeggt creator has sufficient funds to provide the rewards regardless of the percentage of the target reached.
Projeggt Crowdagency services are offered by Projeggt to upgrade campaigns and make them perfect for crowdfunding. It consist on online tools and advice packages offered on our platform.
No work published on projeggt.com grants rights to the funders; the creator retains 100% of the rights to their work
Go to the project page and select the reward you would most like if you are a funder, access the fully secure virtual POS provided by the Banco de Sabadell and pre-authenticate your bank card without being charged. If at the end of the projeggt campaign the project has been hatched, your card will be automatically charged and you will be entitled to the reward for funding the projeggt. If the projeggt is not hatched, your card will not be charged and you will not receive a reward.
Totally, your cards are pre-authenticated and, where applicable, charged via the Banco de Sabadell virtual POS and Let's Projeggt, S.L. will not have access to your bank details.
You can contribute to a projeggt via a bank transfer to the Let's Projeggt, S.L account, so that Let's Projeggt, S.L can transfer the contribution (less the bank fees and corresponding commissions) to the projeggt creator's current account. This will always take place via an agreement between all the parties to streamline and facilitate the process of contributing to a certain projeggt.*/
Yes, a commission of 2% per bank card transaction will be charged to the funds raised. The projeggt creator must take this commission into account when fixing their target funds.
Never! Funders' cards will only be charged if the project is hatched and ONLY when the collection period has elapsed (never before).
Projeggt charges the creator 5% commission to the total volume collected if you do not contract the Crowdagency services.
If you contract the Crowdagency services, the commission will be 1% more on the total amount collected. It will be 1% more for each Crowdagency service contracted (maximum of 5 services).
Commission is charged to the funds raised and is applied when Let's Projeggt, S.L. transfers the funds to the creator of the project. The creator must therefore keep these commissions in mind when setting the fundraising target for their project.
The commission is 5% if you do not contract the Crowdagency services because Projeggt only monitors de project but does not advice the creator.
There will be an aditional commission of 1% for each crowdagency service contracted (from a maximum of 5 services).
Contributions can be between a minimum of 1 and the maximum value you wish to set (taking into account that the most frequent limit for bank card transactions is around 1200).
We also recommend that you do not exceed eight or ten options for your proposed contributions and rewards. An example would be ten reward options for contributions of 5, 10, 15, 20, 30, 40, 50, 75, 100, and 150.
To ensure that your rewards are attractive, first think about what you would like to be given if you were a funder of your projeggt. You can offer a limited and exclusive edition of a product, film props, costumes from a theatrical performance, or entries to an event. Your projeggt may even be a product that will only be produced if a certain target volume of the necessary funds is achieved; in this way your funders will receive a product or service that would otherwise not have existed, you can't get more exclusive than that! There are many options; the most important thing is to be original and the Projeggt team is always on hand if you need them.
You will receive an invoice by e-mail, which will detail the following:
- Funds collected (e.g. 1000);
- Incomplete pre-authentications due to insufficient funds on the pre-authenticated card (e.g. 100);
- Final balance of funds collected (e.g. 900);
- Bank commission (e.g. 2% on 900 = 18);
- Projeggt commission (e.g. 5% on 900 = 45);
- VAT applicable on bank and Projeggt commissions (e.g. 21% on 63 = 13).
In this example, the creator will receive 824 of the total of 900 finally collected (100 has not been collected in the end due to incomplete pre-authentication of bank cards).
The amounts invoiced in this example will be 18 for bank fees, 45 in Projeggt commission, and the VAT applied to these two amounts (13). The invoice will be paid automatically, when the funds are transferred to the current account of the projeggt creator (less the amounts invoiced).
You will help a projeggt hatch, come to life, by contributing a share of the funds required. In exchange you will receive unique rewards that the creator offers for different contribution levels. You will only be charged the amount of your contribution and receive your reward if the projeggt is hatched. Unless otherwise stated on the projeggt page, the creator always maintains 100% of the rights to their work, but they will ask you to participate in the projeggt and as such you will experience the projeggt in a unique and exclusive way.
It is very easy, connect to our web, select a projeggt that interests you, select the contribution option you prefer, confirm your selection, and access the 100% secure Banco Sabadell virtual POS (Let's Projeggt, S.L. will never have access to the platform users' bank details).
By accessing the virtual POS to contribute to the projeggt, cards are only pre-authenticated and will not be charged until the campaign deadline has elapsed and the projeggt has hatched. In the event that the projeggt is hatched, the card will be charged and the projeggt creator must deliver the rewards promised.
If it is an 'Everything counts' projeggt it is always hatched, and therefore cards will always be charged to collect the funds and the funders will always receive their rewards.
Each projeggt has its own unique rewards created by their creator, sometimes with the help of the Projeggt team. They may be limited editions of the works, ways of participating in the projeggts, recognitions appearing in the credits, exclusive entries if the project is an event. There are many and varied rewards for each project. Visit www.projeggt.com and discover them!
- What is Projeggt?
- How many types of projeggts are there?
- What does the hatching of a projeggt means?
- What is crowdfunding for Projeggt?
- What are the rewards for funders?
- What does the All or nothing system is?
- What does the Everything counts system is?
- What is Projeggt Crowdagency and what do the services consist of?
- Does funding a work grant rights to the work?
- How can I support a projeggt?
- Is the payment system secure?
- Will the bank receive any commission?
- Is a project contribution collected immediately?
- How much do the Projeggt services cost?
- What does the All or nothing system is?
- Who pays for the Projeggt services?
- Why is the price of the Projeggt services different in each case?
- How do I set the possible contributions and rewards for the funders?
- What rewards can I offer to my potential funders?
- What will I be invoiced if my projeggt is hatched?
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