Arts Funding in a Web 2.0 World

I tend to agree with JG Ballard when he said:

The funds disbursed by the Arts Council over the decades have created a dependent client class of poets, novelists and weekend publishers whose chief mission in life is to get their grants renewed….

The trouble is the alternatives to pursuing public funding are so damned hard.  They traditionally rely on someone liking your art enough (or believing it to be a decent investment proposition), to want to actually buy it at a price that does not lose the artist money and that values their time and skill reasonably.

But what if we set up a site where artists could pitch their projects at the ‘drawing board’ stage, including the budget necessary to create the work, and then donations were crowd sourced from the web?

It could look a bit like this from the US.

• Does such a platform exist here in the UK?
• Could it?
• Should it?