Update: Feb 2014, seems like nothing is happening on this site since 2011.
This is a cool domain name Unsigned.com. I remember my time as unsigned band tried to hook up with labels, got the rejection and all those classic stories.
Unsigned.com could be a great way for unsigned artists to connect with a potential fanbase. Bands and Artists pay nothing for the service, so it’s a free publicity.
Their definition of their service:
Unsigned.com is the new voice for independent Artists looking for the chance to be discovered! For bands and solo artists, Unsigned.com provides you with an outlet to be heard by an ever-growing fan and listener base.
This Beta release of Unsigned.com is the result of feedback from Artists and Listeners, and will provide unparalleled choices for Artists to showcase their music… and for Listeners to discover new talent!
Most unsigned bands, like mine, got nothing to loose. Who knows, something might hit you. So I think this site is worth to try.