Myspace allows users to share multimedia content like music, videos, and photos. It has features like playlists, easy navigation in multiple languages, and advanced editing options. Users can access up-to-date information from their networks. However, connectivity is required to use Myspace, which may require payment for services like Wi-Fi. The document provides instructions for students to watch a Snow White video on Myspace, write an alternate ending in a blog post, and have their work corrected by a partner through comments.