What is Crossfader?

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Scoble points to the quiet launch of Crossfader–a Microsoft venture of some kind.

Greg Yardley takes a stab at what Crossfader is and wonders if it’ll be a GarageBand-like product. That would be terrific. Looks, though, like Crossfader is going to be an “online educational and collaboration community for electronic artists.” Makes me wonder: Is this a Microsoft site or a third-party venture underwritten by Microsoft? I’ll be interesting to see how it unfolds.