Have you checked this out before? https://www.sellaband.com/

Your way of crowdsourcing the funds is slightly different though.

It's interesting that the fund is pre-budgeted. Who budgets it? The artist or the customers? From my understanding, the budget is used for accountability purposes. The artist can't just blow it all on random stuff. However, is this too restrictive? Isn't the artist in the best position to determine how much should be spent on what?

Edit: By the way, it's awesome to see that you've already started talking to your target market and getting feedback that they want to join. Have you talked to the other target market. Namely the customers who will be funding? Are they willing to put up the money? Great start so far!