Crowd Funded Travels

http://signup.trevolta.com/invite/93NAH17213

The website, which is in its beta stage as of now, claims to help raise funds for people who wish to travel.

In addition it also promises $50 to the people who get selected for the primary launch.

I'd like to get people's views on this.

Is there any chance that this is genuine? And if it is, what're the chances that it will work?