US-based tech firm NearVerse says that the iPhone app for its location-based music sharing system LoKast, which it launched at South By Southwest earlier this year, has been downloaded over 125,000 times.

The LoKast app lets iPhone-owning music fans in close proximity to share music-based information and certain types of content (presumably in line with copyright rules), while signed up artists can pump out content to any LoKast-using fans in the audience at their gigs.

According to NearVerse thirty bands have signed up to do exactly that, including Echo & The Bunnymen and The Boxer Rebellion. Content partnership deals have also been done with US music marketing firm GiantStep and indie distributors The Orchard and IODA.

Music Week quote LoKast co-founder Boris Bogatin as follows: "An iPhone and beer money is all you need at live shows this spring. It's thrilling to see music artists choose mobile sharing of physical CDs, good for mobile networks since our data is shared locally and good for the environment, with less schwag to dispose of later".