First introduced in 2020, Upstart is a platform to support projects and content. It works a little differently than sites like Kickstarter or GoFundMe. While creators specify a dollar-amount goal to reach for their content, after the goal is met the content will be sold at a fixed price determined by the website. The platform utilizes Nano crytocurrency for project funding, fully taking advantage of its zero-cost transactions and fees.
Upstart's unique mechanism is called a Fixed Revenue Pricing Model (FRP). In this model, the creator asks for a total project price, and users can contribute towards the goal. Users bid on the item, indicating how much they are willing to pay before the project launches. Upstart gathers this information and determines the best price which meets the desired revenue, then it makes a collective, simultaneous purchase on behalf of users. As more users buy, the price falls dynamically and new revenue is redistributed so that everyone pays less. As this is an uncommon concept, Upstart offers more information on this system via their website.
Nano, a cryptocurrency known for it's zero fee, zero transaction cost, is used to fund projects on the site.
Official Website - https://upst-art.net/
Reddit announcement - https://www.reddit.com/r/nanocurrency/comments/up0zzb/upstart_new_design_and_hiring/
