NoiseTrade offers musicians a ‘pay what you want’ service, similar to the Radiohead thing that happened over a year ago now. Really. Perhaps more interestingly, they offer fans the opportunity to buy the album, or tell five friends about it and get it for free.

According to New Music Ideas reader Brent, who sent me the link:

Briefly, there’s a $250 setup fee that covers up to 20,000 downloads, then $75 for each additional 5000 downloads. You keep 90% of what is paid for your music and you get the names and email addresses of everyone who downloads.

Good idea? Is information on five new prospective fans worth giving the free album away? If you’re using the site, let us know. Let’s hear what you think.