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Social network Myspace is set to launch its developer platform (login required) on February 5th. If it executes well, the News Corp.-owned company could give third-party developers the ability to tap into its 110 million-strong base of monthly active users worldwide, like Facebook applications already do on Facebook.

We’re going to hold off on analyzing the significance of this platform in detail until we get a closer look. Myspace has been saying it would be introducing its platform for months. So we’ve already looked at its potential here, here and here.

But, if you want the very latest pre-launch information, Mashable has some details.

In the meantime, Facebook is catching up to Myspace in number of monthly active users — we’ve heard some people speculate that Facebook will have more active users than Myspace within the next few months. For a comparison of the two sites’ recent traffic activity, see our post here.

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