OhMyNews shows the way with Tip-Jars

OhMyNews allows its users to use a tip jars allowing them to raise money from their readers.

Media analyst Kim Jae-young noted that OhmyTV relies on the long-tail aspect of micropayment for its financial independence. OhmyTV was able to raise a huge sum of money by tapping into lower 80% of on-line crowd, coupled with near-zero transaction cost on the Web, Kim said.

This is not the first time that the OhmyNews tip jar system was able to collect a huge amount of spontaneous financial contributions. In 2004, when Kim Yong-ok, a well-known Korean professor in Eastern Philosophy, published an article on OhmyNews critical of the opponents of a government decision to relocate the capital city, he saw his tip jar quickly brimming with $30,000 of hard cash paid for by nearly 8,000 contributors.

Here’s the complete story from OhMyNews.

We believe sites like YouTube, Last.FM, and all blogging sites should surely provide their content creators to use a tip-jar for raising support from their fans. At Karmafan of course we have tied the tip jar in to Facebook and will be adding support for MySpace very soon too. Way to go OhMyNews!