BlockSavvy is an “urban myspace” for music junkies launched by Jay-Z, Dash, and Burke. Upon joining, users can create profiles, decide which “block” or neighboorhood they’ll like to live in and then pick a room to express their individuality. BlockSavvy’s layout has a “myspace” feel to it and have similar options such as setting profiles to private as well as having a comments wall.

The site plans on allowing other brands and businesses to showcase and sell products to residents from realistic storefronts via a virtual shopping mall using “savvy dollars,” which is the site’s virtual currency (redeemable for cash). Leveraging the power of other social networks, BlockSavvy is integrated with Flickr and Youtube, allowing users to gain access to its content.

BlockSavvy is open only to a select group of people, meaning that in order to put up a profile, you’ll have to get invited by someone who is already a member. According to Dash, he only wants entrepreneurs on this site, not people who are there merely to gossip. So, do you have what it takes to live on the “block?”