In their own words

“Invest in a band! The band produces music. Get money with the band’s success.”

Why it might be a killer

This is an original idea which could really have legs. Allowing people to invest a tiny amount and then help in a band’s creation could prove successful for both new indie acts as well as investors.

Some questions

Have they considered providing the function to filter your search to show the bands that are closest to reaching their monetary goal? This would allow people to somewhat sift the good from the bad as more and more bands join up.

What it does

ForMyBand is an interesting site that aims to change the way music is produced, promoted, bought, and sold. The first step to using ForMyBand is to find a band that you like on the site and then invest as little as 1 Euro in them. Once you’ve made your big investment, you receive re-sellable music downloads and once the band reaches a predetermined amount of money through yours and other members’ sales, the money goes to the production of a studio album. You can take out your money at any time up until the goal has been met and give it to a different band if you have second thoughts. When the band has produced an album and is pulling in big bucks, you get a share of the profit which is determined by the amount that you originally invested.

Source: Killerstartups.com