New virtual world Music Mogul has launched, billing itself "the world's first online music world" in a blustery launch announcement that includes claims that the world is to "make a mark on the music industry and social networks" with "ground-breaking design".

"For the first time," they rave, "social networkers can experience the music lifestyle through a virtual living world," that is "set to alter the face of music engagement".

The company was founded by names including Nicolas Longano (former president of in-game advertising network Massive) Rodney Jerkins (a Grammy winning music producer).

"I've been looking for the next big thing to come out of music," said Jerkins. "I found it through games."

As a result of Jerkins' astonishing belief in the virtual world, each quarter a user of Music Mogul will be chosen to receive a three song demo deal with Darkchild Productions.

Music Mogul is being developed by iLemon and in the world users can either audition, promote and perform their music for the other users or simply explore the world, with the ability to establish and decorate their own (and we emphasize this is the release's words, not ours) "cribs". The game is also to feature microtransactions, powered by Aria Systems.

"Music Mogul's attention to realism and detail is pushing the boundaries of virtual worlds. Music Mogul will be a showcase of not only the future of virtual worlds, but how users will experience music and connect with each other. It is unique, focused and compelling," said iLemon President and Founder, Jouni Keranen.