Note: this post is from 2009, outbound links may be broken.
PowerFX releases Soundation Studio (Beta)
PowerFX has announced the release of a public beta of Soundation Studio, a web based sequencer that enables you to make music, ringtones and audio clips directly from the internet without downloading any software.
This beta version includes over 400 royalty free audio loops, 9 different effects, track automation, basic loop editing, time stretching, master channel control, publish to web and download to desktop features.
All processing is done locally so the performance and amount of tracks you can use is based on your personal computer setup and internet connection. The real time effects can be chained together to create multiple manipulation possibilities and all the loops are 16 bit, 44.1 stereo wav files. You can start using Soundation Studio at http://www.soundation.com/studio/ and follow the developments and see tutorial videos on www.soundation.com/blog
More information: Soundation Studio