Are you in a band? Do you want to live the life of a rock star? Would you like to tour the U.S. next summer playing in front of tens of thousands of people in a big arena?

Now is your chance.

Sellaband, a crowd sourced online record company based in Amsterdam, is teaming up with Arena Works Entertainment to make your dream come true at the first annual ArenaFest.

The promoters of ArenaFest, which is touted as a “music, fashion and sport circus,” are gambling that the same elements that attract people to their favorite social networks like MySpace and Facebook will also entice them to come out to 10 different arenas next summer and mingle in the real world.

Once inside ArenaFest, ticket buyers can interact with each other, rock out to a slew of new, unsigned bands, judge fashion shows, play video games on massive jumbotrons and just generally have a good old interactive time hanging out and rocking.

ArenaFest seeks to be a different arena experience for all participants. For instance, unlike other major arena shows featuring big name bands, there is no assigned seating at ArenaFest. Attendees will be encouraged to wander around and check out all the different activities and entertainment, including fashion shows, dating games, interactive sports and of course the live music.

The promoters are betting that the low ticket price ($30) and the chance to hang out with friends in a fun environment will attract the Myspace/Facebook crowd. Sellaband and ArenaFest believe that the people who live in the social networked environments enjoy the sort of dynamic, multi-tasking elements that have become a large part of the live show environment. The big summer festivals are already quite successful at providing this type of entertainment, offering all sorts of options for attendees, but at more than $200 a pop for some of them, like Coachella and Bonnaroo, it can be out of reach for some fans.

Look out for the ArenaFest tour bus to roll into the Enormo-Dome near you in the summer of 2009.