Sellaband, a unique crowd sourcing site which allows emerging independent artists to take seed money from fans until they amass enough capital to record a full professional studio album, has announced its second fan funded breakthrough. Less than four months ago Jacob Kongaika, performing under the artist name Cubworld, decided to take a chance and upload his music on SellaBand. "I saw this as a long term plan, I was thinking more in the lines of 5 or 10 years, before I would have reached my recording budget", comments the artist. But soon after the first fans (Sellaband terms them, "Believers") bought Parts in his future recordings, things took a different turn for Cubworld. He became one of the leading artists on SellaBand and a mere 150 days after signing up, he had acquired the full $50,000. "The last 24 hours have been really mad", comments SellaBand Managing Director Johan Vosmeijer. "There were still 1,000 Parts left for Cubworld, which is a healthy $10,000, but they sold in less than 24 hours."
Check out music from Cubworld, and congratulations to Jacob!
See Also:
Musical IPO's? Sellaband offers fan financing a new twist
1. Is this really the best way for fans to help artists? While it sounds great in theory,with the Sellaband concept the $50,000 is mostly used to record the music and press CD's. But in the digital age these tasks can be done for almost nothing by anyone with a computer.
Artists need money to live while creating. To tour to share their art. Not to do old school recording and pressing.
Posted at 8:23AM on Jan 22nd 2007 by Bruce Houghton - Hypebot