Jacob Kongaika raised the money for his band Cubworld on Sellaband.com after uploading MP3s of his songs. By day Kongaika is a baggage handler at Salt Lake City airport.
"I am amazed and overwhelmed by the support and love I have been getting by the community," said Kongaika.
"I have always dreamed of one day being able to record a real album and maybe get a shot at doing music for a living. I guess this could be my lucky shot."
Sellaband.com offers music fans the opportunity to buy in to artists in multiples of US$10 a time.
Last week over US$40,000 was raised by the site for various artists, the bulk of it by Kongaika after he played at a recent concert organised by the site.
When the US$50,000 is raised the album is recorded and sold on CD and made available for free download with the money raised by advertising split three ways.
A third goes to the artist, a third to the investors and a third to Sellaband.com. Artists are not tied to any contract and can leave to sign a commercial contract at any time.
The site is run by Johan Vosmeijer, a former head of Sony BMG and Epic in Holland.
Vosmeijer describes himself as a "music enthusiast", and turned down the role of judge in the Dutch version of Pop Idol because he said he loved good music too much.
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iTnews Executive Retreat - Security Leaders Edition
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