SellaBand, the Netherlands-based online venture that enables unsigned acts to record albums with funding from fans, is extending the same concept to live gigs with ArenaFest, a new U.S.-based summer music festival tour centered on arenas.

Launched in 2006, SellaBand has used the Internet to help emerging artists worldwide find a platform for their recordings by sourcing investments from fans and admirers.

To date, 29 acts have raised the maximum $50,000 SellaBand requires to record a first album, and 18 albums have been released.

Now SellaBand has joined forces with Los Angeles-based ArenaWorks Entertainment to unveil ArenaFest, a series of "interactive" live events and concerts at major U.S. arenas starting June 10.

ArenaFest has positioned itself as the festival for the social-networking generation of 16 to 28-year-olds who want to meet and make friends at the event.

It offers 18 acts, who must be unsigned or have released an album only via SellaBand to qualify, the groundbreaking opportunity to support major acts during a U.S. tour and play 10 shows each in front of arena-size crowds.

"ArenaFest is a groundbreaking concept that fits perfectly with the philosophy of SellaBand. We aim to offer a choice to artists and their fans," Johan Vosmeijer, CEO SellaBand, tells Billboard.biz.

"Previously on SellaBand, artists could find funding and worldwide distribution for their music. The missing link in the concept was the live element. ArenaFest is the perfect solution, and with this new partnership SellaBand artists can take their music to the next level by performing across the United States."

To be selected, they must be a band (not a solo act), originate from Europe or North America, submit a video of the band performing via the Sellaband Web site, have raised $10,000 towards their SellaBand recordings, and perform before a jury panel.

Tickets cost $27.50 and by the time the tour ends, each qualifying SellaBand act would have played before 100,000 spectators.

Although the organizers have not yet announced the headliners and the full list of participating arenas, the first SellaBand act confirmed is New York-based BulletProof Messenger.

The metal band was the 12th Sellaband act to clinch the $50,000 investment for its album "Arm Yourself," which was released in January.

Arena venues verified so far include American Airlines Center in Dallas; the Honda Center in Anaheim, California; and Detroit-based The Place.

In addition to live music, ArenaFest will feature live extreme sports, dating competitions, and interactive video games, among other activities.

It also promises interactive events involving wireless technology, but the details are so far unavailable.