According to wikipedia:
thesixtyone (t61) is a streaming media website that uses collaborative filtering to organize, promote, and sell music uploaded by artists, many of whom are independent musicians. The site was founded by James Miao and Samuel Hsiung and received early investment from Paul Graham. It was released in alpha form January 2008 and received additional funding from Creative Commons CEO Joi Ito and Reid Hoffman, founder of LinkedIn.
Their wiki has some more info on how they play their music. It’s a nice place for nice Indie music. It appears to be a broader playing field than the current muxtape, to find new music and to get to know the artists. You just have to keep looking. (Via Shikha)