Hip hop myspace?

Alright so i am interested to hear what people think about this idea/ website that is currently in the mix. www.streetcred.com. The site is going up and is in beta right now. And the concept is that people can gain street cred through their activity on the site and the amount of friends they have...

It may take off or it may be a complete bust. Check it out and if you got an opinion one way or the other let me know.