MySpace is apparently on the verge of launch a site for music downloads, ringtone downloads and, most importantly, desktop wallpaper.

People will also be able to buy music merchandise and concert tickets from the new service. We’ve been hearing rumblings of this “amazing” MySpace music-download site for a while, but it looks like it’s finally coming to fruition.

No word yet on how much the music downloads will cost, but you can be sure that they’ll be more expensive than on filesharing networks.

Although we don’t like MySpace and its horrible profile pages, there have been some decent artists who broke into the mainstream thanks to the website. We adore Lily Allen so we’ll be keeping an eye on the new website.

Sony BMG, Universal and Warner are all on board with MySpace, so the choice of music downloads should be pretty decent. MySpace is yet to announce an official launch date for the service.

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