Remember the good old days when you would go watch a cool band at the local watering hole and there would be a tip jar up by the guitar stand? Bands need money from merch and tips just to survive and a new app from Nashville software company DevDigital is making it easier to give a tip to your favorite bands.

The apps founder, Will Mulligan came up with the idea for the app after a live show and put the software firm to work.

The MyTIpJar app, available on both Android and iPhone, enables fans to tip directly from their phone after download and a less than 2 minute account set up.

With band revenue down, we hope this becomes a way for an artist to earn the money necessary to stay artists, and keep producing the music that is the life blood of this and many other cities around the country, said Founder Will Mulligan.

MyTipJar goes beyond just being a mobile app for tips. The website allows the artists to put in profile information, showcase upcoming shows and link to their website. New features are already in development to allow upload of music tracks for download and social sharing.

People using the app are able to see who is playing nearby with geo-location functionality allowing users to see other bands near them, and search venues for upcoming events.

With over 75 bands already signed up, there is great anticipation for viral growth and adoption by fans. MyTipJar waited to make a major push until it was available on both Android and iPhone to gain downloads as quickly as possible.

“We didn’t want to leave out 67% of the smartphone owners in the country. It’s important to us for bands to really gain from promoting the app, and for fans to show their appreciation,” said John Maddox, investor in MyTip Jar

The app is pretty cut and dry bands make money from tips from their fans. An e-wallet type platform allows users and band fans to donate tips using a credit card rather than cash or change.

Bands can sign up for MyTipJar here. You can download the app for iOS here and Android here.