True, SonicAngel is very similar, but there are some huge differences as well, one of which is that every artist/band has an opportunity to produce an album if they raise the funds to do so. With SonicAngel you have to essentially be discovered/signed with SonicAngel to take advantage of the crowd-funding and some other site features.
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Check out http://www.sonicangel.com/ which is very similar and started last year. They are already quite successful.
True, SonicAngel is very similar, but there are some huge differences as well, one of which is that every artist/band has an opportunity to produce an album if they raise the funds to do so. With SonicAngel you have to essentially be discovered/signed with SonicAngel to take advantage of the crowd-funding and some other site features.