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"Righteous" Pono music player raises $6.2m on kickstarter

The Pono music player, designed by songwriter Neil Young, has completed an outstanding campaign on crowfunding megasite Kickstarter.

The music player, which is meant as an answer to the low quality of MP3 and digital streaming, raised $6.22 million (£3.7 million) overall. That figure makes it the third-highest grossing campaign on the site, after the Pebble smartwatch (£6.12 million) and the Ouya games console (£5.11 million).

Related: A guide on getting your Kickstarter campaign funded

The music player is a prism-shaped portable device that holds tracks with lossless audio – meaning the tracks replicate the original master of songs at the highest quality.

Young, who named the device after the Hawaiian words for "righteous", raised the first half a million himself in 2012 to design prototypes before heading to Kickstarter to look for more funding.

"On behalf of Pono, we thank you for helping us give music a voice," Young wrote in thanks, according to The Guardian. "You have helped to set the stage for a revolution in music listening. Finally, quality enters the listening space so that we can all hear and feel what the artists created, the way they heard and felt it."

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Young also appealed to other musicians to sign up to the Pono project, which will launch a store not unlike iTunes to sell lossless files. With Kings of Leon, Metallica, Elton John and Paul Smith already on board, Pono already has some big backers.

"Anything that elevates music back to where it should be is inherently cool," said Nine Inch Nails frontman and composer Trent Reznor. "I have great admiration for Neil Young as an artist," he added that, before admitting "as a device though I can't pretend it doesn't look a bit like a Toblerone".