For each Backstage Pass you buy in an Artist you are entitled to buy 5 Contracts at a discounted rate of 10p ($0.20) each.
You can buy as many Backstage Passes as you like, but there are a maximum of 3,000 for each Artist.
If you do not buy Backstage Passes you can only buy Contracts on the Exchange at whatever price they are trading at the time – likely to be greater than 10p ($0.20).
Contracts are issued immediately following Artist financing, ie when the sale of the Backstage Passes has finished and before the album is recorded.
The Contracts are redeemed 2 years after the album is released.
There are a maximum of 15,000 Contracts available for each financed Artist.
Contracts pay out £1 ($2) for every 10,000 albums sold in the 2 year period following release of the Artists album (plus 10p (20c) for every 10,000 singles sold during the period).
At regular intervals throughout the 2 year period Slicethepie will release actual sales figures for each Artist.
If you have further questions about the Slicethepie Exchange check out the FAQs and the Trading Exchange Terms and Conditions. If you still have questions, just email us on info@slicethepie.com and we'll get right back to you.