Sellaband, which we've written about on several occasions, started off as a way for unknown talent to collect money from 'believers' to record a first album. So far, 34 artists from fourteen countries have used Sellaband to produce an album.
Now, Amsterdam-based Sellaband is expanding its 'fan funded' model to include musicians who have already made a name for themselves. Artists can set their own budgets, asking for more than the former limit of USD 50,000. The first group to take advantage of the new opportunities is Public Enemy, which aims to amass USD 250,000 to record its 13th album. Fans of the iconic rap group can buy into the project—shares are USD 25 each—in return for a signed copy of the release and a share of its proceeds.
Public Enemy hopes to complete fundraising by the end of 2009. Since creating a profile yesterday, they've already raised USD 14,500. According to Sellaband, numerous other well-known artists are planning to create projects in the next few months.
Website: www.sellaband.com/publicenemy
Contact: info@sellaband.com
