Coolfer readers will remember a post about Linx, a web management product created by Snocap, a digital music company founded by the creator of Napster, Shawn Fanning.
Though the company started out with the goal of enabling peer-to-peer businesses, Snocap has since focused on enabling commerce at social network sites. In September of this year, Snocap announced its partnership with MySpace. The collaboration, called MyStore, brings together Snocap's digital music registry and backend operations with MySpace's far-reaching social networking site. It is Snocap's first partnership and the company expects more in the future.
Recently I had the opportunity to speak with Alex Rofman, Snocap's VP of Business Development, to find out about the new MyStore program.
MyStore is a collaboration with MySpace that will allow artists to easily sell its music on their MySpace page. Once artists register their content with Snocap, they can automatically populate their MySpace page with a Flash-based application that will appear below the MySpace pages's existing media player (see picture below from The Format's MySpace page). Initially, PayPal will be used to pay for MyStore purchases. Rofman said traditional credit card support will be in place "in the next couple months."

MyStore's ease of use looks to be one of its strong suits. Snocap goal was to make the upload-to-sale cycle fast, simple and free of complications. An artist can use MyStore to avoid the usual procedures involved with selling music online. Rofman described a scenario in which a band could record a live show, upload the songs and sell the tracks to fans that same evening.
All tracks will be in the MP3 format. Rofman said it was obviously important that the songs play on the iPod. MySpace and Snocap will share a $0.45-per song fee. The artist or label is free to set the price for each download.
The companies are rolling out MyStore in stages. By the end of 2006, the MyStore will be available to the three million-plus artists with MySpace pages.
Given the high volume of traffic at MySpace, and since practically every artist have a MySpace page, the MyStore collaboration has a good chance to make an impact and stands a fair chance of starting a shift toward the decentralized, artist-empowering model that so many expect to find in this new digital era. MyStore potential lies in the fact that much of the music is lost amongst millions of other songs. A reduction in search costs is a key to growing the digital music market. At a store like iTunes, underground artists are connected to consumers mainly through a search query. MyStore's strategy is to capitalize on the already existing traffic at an artist's MySpace page. It encourages impules purchases that otherwise may not be realized.
Just how well it performs could be unclear. At least in the short term, Snocap will not report its sales to Soundscan. (This makes sense. Songs and albums reported to Soundscan must first be registered. MyStore's quick upload-to-sale cycle doesn't fit well with Soundscan's more formal procedure.)