Name of the Social Innovation: SellaBand
Sellaband is also a platform for musicians, founded in 2006. Lender, called “believer” can buy shares, called “parts” of the whole amount of needed money. During the time of collecting money, the already collected money is given to a trustee, so neither the artist nor SellaBand can use the money in this time. Interests of this time are given to SellaBand to finance the platform. Pervious, every believer could give back his part, until the whole amount of money was collected. Now, after until two weeks, the customer can give it back again for stopping the support. This change caused a lot of discussions and many lender lost their confidence. For lending money believer get a limited edition CD and they can download the album as an mp3. If they bought more than one part, they get additional some normal Cds. Since 2006, 86 artists were able to collect the needed amount of money. One big advantage is, that artists don’t lose their intellectual property rights.
Website: https://www.sellaband.com/
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