5/2/13Print - Art-trepreneur Opens his Product's Canvas to the World in a new Crowdsourcing Modelwww.globenewswire.com/news-release/2013/05/02/543631/10031103/en/Art-trepreneur-Opens-his-Product-s-Canvas-to-the-World-in-a-new-Crowdsourcing-M…1/2
Art-trepreneur Opens his Product's Canvas to the World in a newCrowdsourcing Model
Brooklyn, NY, May 2, 2013 (GLOBE NEWSWIRE) --
Crowdsourcing models have catapulted brandslike Threadless, whose artists use T-Shirts as their canvas to share their creative talents. NowDynomighty, makers of the Mighty Wallet®, want to give online artists a new canvas for artististicexpression through a new crowdsourcing hybrid calledArtist Collective.Here is how it works
All artists, illustrators and designers can use a simple online interface that rendersthe artists' design as a realistic photographic image of a finished product. The artists then share their creation with their network with the challenge to secure 30 pre-sales in 30 days. If their design is backed,it goes into production and the artist receives 15% of the total sales for the lifetime of their product, aswell as the opportunity to become distributed throughout the world aspart of the Dynomighty line.
Dynomighty's distribution has expanded to over 60 countries worldwide, with its products available in over 1800stores in the US. It has also become one of the fastest growing privately held companies in the US for two yearsin a row. Artist Collective is a pivot for the 10 year-old company, from their typical growth strategies throughlicensing and strategic partnerships. The company is betting on the popularity of crowd funding models likeKickstarter crossed with a design sourcing model to become the next big development in creative e-commerce.Dynomighty's roots in art are tied to it's foundation when the owner,Terrence Kelleman, started the company hewasa struggling artistwho suffered after a poorly attended, yet heavily invested, exhibition of his artwork. Theonly sales from the exhibit were of prototypes for a new product he designed and left at the gallery receptiondesk.Making a decision then and there to risk his career in art and go for his chance to launch his product andcompany with no advertising budget and no prior entrepreneurial experience, Terrence's goal was to create ameans to be financially free to pursue his art.Today Terrence is back to making art and says "
The idea that my product can be a vehicle for other peoplescreative expression is so inspiring, it is a great alignment of who we are and what we believe
". The mottoof Dynomighty is "Be Mighty" - a slogan that is meant to encourage other artists and entrepreneurs to go for their dreams as its founder did 10 years ago.So far the results are on par with their predictions. One week after launching Artist Collective has over 500registered users, 65 artists, 82 design submissions and over 300 backers with 4 designs already going into production. A composite video of the first weeksArtist Collective Mighty Walletdesigns is posted on their YouTube page.During the beta stage Artists must apply to become an artist. There are limited spaces are available,Applyonline.