An unsigned band out of Seattle will now be known as "The BuyStock.net Band" after they sold their naming rights for $251,100 in a 5 day Ebay auction. The BuyStock.net Band has only recorded one song and says that it will never sell any of their music. According to younameourband.com "It's an undeniable fact that all recorded music will be free. It might take 2 years, 3 years, or 5 years but in the not to distant future it'll all be free. So why fight the inevitable? Embrace it."

The three member band was reportedly having trouble coming up with a band name when the band's bassist Kevin Russell reportedly suggested that the band sell their name to a sponsor. "Initially we didn't take the idea seriously but later realized it was brilliant," said lead singer Ben Adley.  "Sports stadiums do it, why not a band?" The band says they will use the money to fund the recording and release of their first album. The band has made their first single availble to download at BuyStock.net.

The band’s sole recording to date, “For You", is available for free download at BuyStock.net and streaming at YouNameOurBand.com.

Here's what the Ebay Auction listed for details:

Why are we auctioning the name to our band?

We're a new band that needs cash to record our first album. It's as simple as that. We've written a lot of songs and we want to record them in a quality studio and to do that takes cash.

How did the auction idea come about?

We were talking about what we were going to call ourselves and our bass player Kevin suggested we sell our name to a sponsor. Initially we didn't take the idea seriously but later realized it was brilliant. Sports stadiums do it, why not a band?

Who are we?

Ben Adley / vocals & guitar. Ryan Lewis / drums. Kevin Russell / bass.

Where are we?

Seattle

Have we recorded any songs?

One. "For You". Listen to it at younameourband.com

Will we sell our songs?

No. Never. At the end of this auction, "For You" and every song we create as a group will be available for free download. It's an undeniable fact that all recorded music will be free. It might take 2 years, 3 years, or 5 years but in the not to distant future it'll all be free. So why fight the inevitable? Embrace it.

How will we make money?

Live shows. Charging for songs equals shackles on songs. We want our music to be free, so that it can spread to as many people as possible. The more people that listen and like, the more people who will come see us play live. Recorded music is no longer a product. Recorded music is marketing. It is the advertising to get people aware of you, interested in you, and hopefully a fan of you. That ultimately wants to experience you.

What does the winning bidder get?

The right to name our band. That's it. You win, you name us. The end.

[Story via Alternative Addiction]