Public Enemy join Sellaband

Public Enemy hope to raise 250,000 dollars by the end of the year to finance their 13th album. To do so, the New Yorkers have joined the online music platform Sellaband. The aim of the game is simple: Public Enemy are asking their fans to buy, via Sellaband, "parts" (similar to shares) at 25 dollars apiece. The money collected will enable the group to start recording their next album and to develop a marketing plan for the CD's release in 2010. Profits from sales of the album will be divided between Public Enemy and fans who have invested!

According to Chuck D, "SellaBand's financial engine model goes about restructuring the music business in reverse. This is a brand new way for acts to create a new album with fans first."