Set up buy two Dutch businessmen, the website Sellaband provides a link between unknown musicians and fans ready to invest their mony in a system that promises to benefit bands, fans and producers.

Here’s how: bands upload sample music to Sellaband, promote it on their profile page and issue 5,000 Parts. Parts cost $10 (7.91 euros) each. Together ‘believers’ have to raise $50,000 to get thier Artist of choise into the studio.

At any point before the Artist has reached the goal of $50,000, believers can withdraw thier Parts and pick a different Artist, or get thier money back.

The music produced will be given away as a free download on the Sellaband download portal & all advertising revenues generated will be shared equally between the Artist, Sellaband & the believers.

50% of net profits from CD’s sold through online partners will go to the Artist, the rest will be divided equally between the believers.

On the production side, Sellaband has formed partneships with renowned producers such as Chris Kimsey, Haydn Bendall, James Poyser and Tony Platt, who’ve worked with a host of music legends, like Bob Marley and the Rolling Stones.

“Music for the people, chosen by the people, supported by the people not some marketing plan to sell us music we do not want”, Chris Kimsey – UK producer, best known for his seven album association with the Stones.

More info an how it works

An e-mail response from Johann Vosmeijer, Sellerband’s managing director, sent to the Crowdsourcing blog, gives more details about guarantees & conditions.

First source from l’Atelier

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