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Testament hopes to make $50,000 by selling shares of their song 'Native Blood'

12/2/2014 11:28:18 AM PT   comments [9]

Testament singer Chuck Billy with ownership certificate

I have no problem with bands making money, but this seems to be pushing it. Diluting Queensryche's recent "own a piece of the band" endeavor even further, metal veterans Testament are giving fans a chance to own shares of their 2012 song "Native Blood" via the New York Rock Exchange.

Here's their pitch:

"Before now, the only people who owned songs were music industry insiders. Now, Testament and the New York Rock Exchange are allowing you to have a piece.

"When you buy a share, you'll become a co-owner of 'Native Blood' along with Chuck, Eric, and the band. Not only does this give you the ultimate in bragging rights, you'll also get exclusive shareholder rewards not available to anybody else.

"Unlike vinyl, CD's and MP3s, only a limited number of shares will ever be released. There's no better way to own a piece of Testament's history, and be a part of their future."

There are four levels of share ownership: Silver Share ($25), Share+Poster ($50), Gold Share ($100), and Digital Share ($15). While the first three are indeed limited, to 1000, 300, and 100 owners, respectively, the Digital option does not appear to be limited, so we're not sure exactly how that jives with the band's claim that "only a limited number of shares will ever be released."

More importantly, a share really has no intrisic value (i.e. you have no financial stake in the recording whatsoever). You get a certificate and a few other perks, including early access to the band's next album, and a limited edition print of the song's handwritten lyrics.

If the band were to sell every available share, they'd earn $50,000, and that doesn't include the digital shares.

Whatever. If you're still game, you can "invest" here.





Comments
anonymous   posted 12/2/2014 12:23:54 PM
I will be reporting testament to the SEC. Dead serious.
anonymous   posted 12/2/2014 1:06:01 PM
nobody can illegally download this song since I partially own it. that's how it works, right?
anonymous   posted 12/2/2014 1:47:24 PM
It's so funny how out of touch old musicians are with the youth
thetowerofrome   posted 12/2/2014 1:51:24 PM
fcking stupid.
smokeweedhailsatan   posted 12/2/2014 2:19:19 PM
Old Testament sucks, who wants a stake in new Testament lol
anonymous   posted 12/2/2014 9:29:17 PM
It's pretty clear this is not an investment--it's a way to own something cool. Your own little piece of music history...
anonymous   posted 12/3/2014 6:35:37 AM
This is fcking surreal. Really? How do you justify doing this?
anonymous   posted 12/3/2014 10:34:33 AM
Uh, digital shares are limited to 500.
anonymous   posted 12/3/2014 6:17:53 PM
Who wants to own a share of the load I just blew all over my stomach?