October 28, 2009 in Social Networking (F)
[prMac.com] Galileo Lab just released "Buy Me A Ferrari", an iPhone app to test a new paradigm of crowd sourcing and fund raising. What is BMAF (Buy Me A Ferrari)? It is a social experiment to combine the power of the crowd and the money from advertisement to fund ideas and dreams.
The big picture
Obviously this is not just about buying an exotic car, though that is not a bad perk and it captures people's imagination. The big picture here is that if we can prove that this funding model works, we can apply it to much more deserving causes. Cancer research, pets rescue, you name it. We get to make a difference to real people.
How does it work?
People can download the free app from the AppStore. They tap on one or more ads that interest you. That is it. If a million people click on an ad on BMAF we raise plenty of funds.
NOTE: we are *NOT* asking users to pointlessly tap on the ad! We recommend users to look for an ad that is interesting to them. We encourage users to use the refresh button to load a different ad for that purpose. We want advertisers to be on board with this business model and not to waist their money.
A Ferrari? Isn't that shallow?!?
Yes it is, no question about it. We used this topic to raise awareness of the concept. We felt this was a dream many can relate to so it will serve the purpose of testing the funding model while raising attention in the blogosphere and Twitter. Of course you can ask why didn't we use a different PR stunt. Valid question, yet again you are reading this aren't you?
Galileo Innovations LLC started back in 2002 as software laboratory for artificial vision and distributed system development. The seeding money came from the founder, a seasoned software architect and innovator with a dozen patents under his belt. In the last few years we have redirected our distributed system expertise towards concepts in the area of multimedia sharing and statistical analysis. More recently we have embraced the iPhone phenomenon and decided to start a new initiative, Galileo Lab. Copyright (C) 2002-2009 Galileo Innovations LLC. All Rights Reserved. Apple, the Apple logo, iPhone and iPod are registered trademarks of Apple Inc. in the U.S. and/or other countries.