Social Network Myspace took a page from Facebook (pun intended) and announced that they are going to allow third party applications to be developed for Myspace "within the next few months".
Facebook has freed its APIs earlier this year and has since then enjoyed a massive success.
Facebook's CEO, Mark Zuckerberg mentioned that nearly 100000 developers were working on Facebook Applications and that there were 6000 Facebook apps already available.
Although Myspace is currently four times bigger than Facebook, according to one investor, the latter is set to bring in more profit than its mightier competitor.
Another hint that Facebook is a hotter property than facebook is the fact that Facebook's rate of growth over the past year is nearly nine times that of Myspace.