What is it?
It's an account that, if implemented, will be the official Merqury City account on both Xbox Live and Playstation Network, providing members that have added said account to their friend's list some nice features.

What features does it provide?
It's the account that will set up the 'official' MC events that are mentioned at the bottom of this post.

It's an account that serves to store up to 100 MC members on its friend's list.

Xbox 360 users can use the 'View Friends of Friend' feature of XBL to see who from MC is playing the game right at that time, and instanly invite them to play or group chat, or both.

Why do we need this?
We don't need it! But here's why it's good:

As the MC global events are for MC members only, they'll be open to 'friends only' - because these accounts will only have MC members as friends. If you're on the account's list, as soon as the event is set up, you're free to join the event and get competing! You don't need to wait for an invite, the event will appear on your wall in-game, or on the drop selected for that week's event. If you don't have the account added, you'll need to message that same account and wait for an invite.

As for 360 users only, they can also use the feature of looking at a friend's friend list to do a lot of simple things, but in a very pleasant way. The 360 MC account would be able to store up to 100 members of this board. If you have this MC account as your friend, you can from there see up to 100 members of this very community. You can see if they're online and instantly invite them for group chat, a global event, send them a message, or add them as your own friend. You can look at this as a list, like we have right now, but instead of being just that, a list, it's an interactive one that let's you do a myriad of things via a single, global account that represents our community WHILE you're on your 360. Invite, chat, socialize - all right there via 3 button presses while you're playing SSX! Unfortunately, this is one feature that would not be available to PS3 users via the MC PSN account. But if it's right there on the 360, why not take advantage of it?

The account can also serve as a sort of guild vault, a guild, community bank. Instead of me organizing the events on my own gamertag, therefore potentially using my own credits on the 'official' events, those accounts would have credits that belong to 'us', the community. Those credits would be used as prize money - more on that later. We could also set up a way for you to 'donate' credits to the MC account if we explore the 'Entry Fee' and 'Prize Money' features on Global Events.

And it's better to use a specific account than my own because I have my own friends on the 360 and I have 80 slots filled, and I only have spot for 20 people between my 2 favorite communities, NeoGAF and of course MC. That'd leave place for maybe 10 people to enjoy the ability to instantly join our 'official' events. With our own MC account, up to 100 people can benefit from that!