Singer raises US$50,000 online to cut album

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Singer raises US$50,000 online to cut album

Internet investors take a punt on new talent.

A singer from teh US state of Utah has raised $50,000 through online donations to cut his first album.

Jacob Kongaika raised the money for his band Cubworld on 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." 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 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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