News is filtering out via hypebot that Dutch based ‘Sellaband’ is in trouble…

It started off as a truly novel idea in music - bringing fans closer to the artist - in effect the fans were becoming the investor/s in the artists recording with the hope of a payday somewhere down the road.

Launched late 2009, jury has been out on whether or not this type of model can work….well now it seems that the answer is clear. Check out this piece of news stating that the company has filed for insolvency in Amsterdam yesterday.

With the high profile funding problems faced with the Public Enemy “investment” (the biggest name involved with Sellaband) things were looking shaky but this is a real blow for those that assumed artist funding via fans would be viable.

DAMN.

DIY or go to the labels.

GYEO