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Your music career on Ebay?

An 'industry' friend of mine dragged me to a showcase of a new singer called Shayan Italia the other day. Not really knowing what to expect, I was pleasantly surprised, the music is very mellow, and appealed to my autumnal melancholy!

Anyway, at this showcase they were telling us all about how Shayan sold shares in his future music career on Ebay to raise funds for his debut album. Apparently he had 3 people interested and got 9 grand out of it to cover the costs to record his demo. Nice haul, seeing as most demos are made on the absolute cheap. He's now picked been picked up by Universal, who are distributing his single digitally and he's getting a lot of airplay at the moment, Radio 2 mainly.

Is this the way forward? Is his a clever way of raising funds to actually make a demo that is ok and not having to resort to crappy demos, X-factor or MySpace in the hope that people pick up on it?