The Wall Street Journal has reported that Snocap, the digital services company founded by Napster creator Shawn Fanning, has partnered with social networking site MySpace. Though the nature of the deal isn't clear, sources told the WSJ that MySpace could get a minority position in Snocap.

More details were given in the LA Times' article about the Snocap/MySpace deal. The download store will be called MyStore and will be out later this year. (A side note: www.mystore.com has been registered by "leading domain name attorney" Ari Goldberger.) Fans will be able to sell bands' music to other fans. Also, some economics of the deal were given. The two companies "will split the processing fee of about 45 cents per track," which implies the artist should set a track's price well above $0.45.

Jupiter Research's David Card has doubts about MyStore's ability to make much money. "I believe in a 'long tail,'" he said, "but I have yet to find a media company make a living delivering only the long tail without delivering any of the hits."

Coolfer had previously posted on Snocap's Linx, the widget that enables download sales on MySpace.

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