This premise is simple: have a bunch of shows in the basement, film 'em, and put 'em online. That's what the House of Preblon, located in Southeast Portland have been doing for some time now. The mission, as they put it:
Dedicated to documenting and facilitating (through putting on shows and collecting live bootlegs and other media) the best of the DIY/Indie/Noise/Punk scene in Portland,
Aside from video, the House of Preblon site offers MP3 bootlegs off all the sets for download as well. The archive has grown into a pretty impressive resource, near 50 bands like Guantano Baywatch, White Fang, Blood Beach, Y La Bamba. The videos are shaky and un-edited, and the sound quality isn't always great, but the feeling is there—it's basement punk shows in the raw.
Here's a tune from Blood Beach's show last month:
Over at the House of Preblon you'll find tons more.