MySpace to create an MP3 player?

Look out Apple, there could be a company in town with a player to kill the iPod. In all seriousness, MySpace might enter the MP3 player department, a place where Apple’s iPod has dominated for quite a while now.

At the Web 2.0 Summit meeting on Thursday, MySpace co-founder and Chief Executive, Chris DeWolfe, shed some light on the fact that MySpace could develop a music player, but nothing is set in stone.

MySpace has used music a lot to make their site bigger and bigger. Many small (and large) bands use MySpace as a way to share their music. They even launched a new service, called MySpace Music, which works with popular music labels including Sony BMG Music, Universal Music Group, and Warner Music Group. More after the break.