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Coolest cooler projected $21 million on Kickstarter: Crowdsourcing phenomenon

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The Kickstarter project of the “Coolest” cooler originally posted with the goal of $50,000 in mind, but that was a drop in the bucket in comparison to what it has netted so far in backing. With already $7 million dollars pledged today, it is on its way to closing out at about $21 million on August 29 when the Kickstarter post ends, according to Yahoo News on July 25.

The KickTraq tool projects the campaign ending at $21.7 million at the end of next month if it continues to draw backers at the rate it has been. So what is so special about the “Coolest” cooler that has caused a flood of people wanting to invest in this product? The video above shows just how this party in a cooler can come in handy.

Why is this product raising $410,020 per day since it first opened on the Kickstarter site? This line of coolers is not cheap with the least expensive cooler costing $185. It is packed with features not found in traditional coolers.

CBS News reports that so far the "Coolest" cooler is at the third most funded product in the site's history. The big news is that it has a very good chance at taking the top spot at being the most funded product in history on the crowd sourcing website.

The average backer online has dropped $196 on this cooler and more than 35,000 have invested in the creator's dream of bringing this cooler to market. If the “Coolest” cooler doesn’t hit the projected $21.7 million it can still top the record holders on this website.

The record holder today is still the 2012 Kickstarter project of the Pebble Smartwatch, which raised $10.2 million. Second in line is the Android game console Ouya, which came in with $8.5 million that same year.

The inventor of this cooler, Ryan Grepper, thought of everything that a party might need and incorporated this in his “Coolest” cooler. It blends drinks and plays music and today it is the third most-funded product in Kickstarter history.

This phenomenon of crowd sourcing is another perk that the online world makes available today. This wouldn't have been possible two decades ago. Today someone with a creative invention and a dream of marketing it can share it online and gain backing for that project. It is actually amazing.

Is this "Coolest" cooler worth the projected $21.7 million investment? Apparently the 3,500 investors think and for anyone who ever wished they had the makings of a party all in one box, this cooler is that product. Check out the video above to see why all this buzz and money has been whipped up over the "Coolest" cooler today.

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