A source with a Presidential campaign tells me that Myspace will be launching a space dedicated to the 2008 Presidential race on Sunday and a new feature which allows friends to contribute directly to the campaign through the myspace platform.

I hear that so far, five Republicans and five Democrats have signed up to be included on the site.

The one thing that this is going to do is force campaigns to engage all of the potential, and deal with what Michael Turk considers a possible downside, of a vibrant social network. In other words, the fear of a campaign associating with that one friend whose myspace page is filled with obscene photos and racist remarks.

I wrote out a plan for campaigns to prevent this from happening at length last month. Essentially, a campaign should advertise on its space a well-thought out Terms of Service (TOS) for the community, which is developed and enforced with participation from the community, and includes appropriate guidelines for members of the community.

Preparation and strategy are the easy part. Implementation and execution of the plan is going to be fun to watch. Especially with the mainstream media's laser-like focus on myspace as the social networking site of 2008.

UPDATE Mar. 18, 11:19 AM: If you're keeping score at home, the New York Times is now reporting about the 2008 myspace page.