MySpace has the traffic, the unsigned bands and now plans to sell music from those unsigned bands through Snocap, Shawn Fannings’ post-Napster digital music tracking service. Initially in the US but presumably the other territories will follow.

Strangely, no one seems to remember that this is exactly what MP3.com did about six years with absolutely no result. Bands tend to be unsigned for a reason and also folks want a guide as to what’s worth listening to. At least the social side of MySpace will provide that guide and the music will be in MP3 format. However, I’m not entirely sure whether this idea will fly now when it didn’t in 2000.

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