Bojam

Bojam is an online music collaboration service connecting musicians by giving them a platform to mix, record, and collaborate to produce original or popular music. Musicians of all levels create or discover mixes to contribute to and connect with compatible musicians worldwide. They can use the Bojam Mixer to experience a song in its multi-track format, controlling individual instruments (eg muting or panning a track) and learning how to play a given part. Users record what they play and mix it with the song, then use advanced editing and sound effect tools to clean it up. Mass collaboration has been utilized in text (Wikipedia) and software (Firefox). Bojam does so with music, open-sourcing all aspects of the music creation process, including a wiki-style platform for adding song info, lyrics and instrument tabs. Bojam is open-source music and our goal is to revolutionize the music creation process by harnessing the skill, enthusiasm, and creativity of the music community.

http://www.ustream.tv/flash/video/702341