MySpace and Facebook have both been devising new advertising platforms, and MySpace's platform, SelfServe, will be officially announced just one day ahead of the rumored announcement of Facebook's SocialAds.

Similar to Google AdWords but geared toward display ads, SelfServe allows advertisers to analyze ad performance throughout the MySpace network and then create ads accordingly. Advertisers may buy space for as little as $10 USD, and payment is made when someone clicks on the advertiser's profile. There will be a fixed cost per click based on the category, but will eventually, like Google Adwords, become auction based.

Tied into this announcement is the unveiling of "HyperTargeting by MySpace," which sells marketers MySpace information to so ads may be properly targeted. Myspace has over 1,000 discrete "interest" categories, allowing advertisers to target as specifically as they like.