On August 8, Fanjoy, a company that claims to be the “one-stop-shop” for fans to buy merchandise from their favorite creators, filed for bankruptcy in Georgia. Many fans of popular streamers like Bailey Sarian and Sylvee expressed shock online, especially when Twitch streamer Caitibugzz stated in a since-deleted Tweet that Fanjoy had not delivered the payments she was owed. With no official comment from the company and most creators staying silent, fans are now hesitant to purchase products.
Much of their surprise comes from the fact that Fanjoy worked with some of the internet’s biggest stars—including Addison Rae, The Try Guys, Elyse Meyers, and Tana Mongeau. Creators like Meyers and Twitch streamer GeorgeNotFound are listed as creditors with unsecured claims and are respectively owed $86,000 and $94,5000—seemingly the money earned from their millions of followers.
If Fanjoy can’t succeed in this arena, it’s tough to understand how any company that makes merchandise for creators can. Some creators might be tempted to turn to print-on-demand companies for their merch instead of collaborating with a smaller startup. But even that merchandise strategy has been rocky as of late. …
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Source: https://www.dailydot.com/passionfruit/fanjoy-bankruptcy-merch/