LightSpeed Audio launched a beta version of its Web-based music collaboration social networking site called JamNow today.

The service provides a virtual studio for artists in different locations to play together in real time, sharing audio over the Internet. It also allows fans to listen in, with permission, so band can perform virtual concerts.

The beta is limited to geographic region that LightSpeed is calling the "Rock Triangle" -- Boston in the north, Charlotte, NC in the south and Milwaukee, Wisc. to the west. Only users living within that boundary can participate in the beta.

The limitation is due to the issue of Internet latency, which causes a delay in Internet traffic when originating servers and receivers service are located too far apart.

As LightSpeed tests its technology, it will add other regions like Los Angeles in the near future, the company says.