Why did they choose "Mylot" name for this website?

I'm not sure why they chose it exactly, but we could have fun guessing! I laughed when I saw you wrote "...sounds like an agricultural website...". Anyway, it can be safely assumed that it has something to do with one's lot in life. Your interpretation on those grounds could actually come understandably close to the original intention. In the middle ages, or back even further, you could buy land or have it granted to you & that would be your lot in life. You could chose to grow on it whatever you felt would sell for a good price & that would be your lot. Your allocation would be another way of putting it. So it is with My Lot. You start on an equal footing with everyone else. From there you may post discussions - as many or as few as you wish. Likewise, you may respond to others discussions, build a network of friends & participate in activities. All will earn you money & how you work that is your lot in life on this website. The social network part of it comes into play by personalizing the situation. If everyone has their lot, or allotment, or allocation & grows on it that which they believe will attract others to respond to their discussions or you respond helpfully to others discussions, then those actions will help you increase your network of friends who are more likely to take an interest in your work, responding in kind & increasing your earnings.

I'm going to guess they used my because of myspace which is a popular social network, and lot was the only other word available.

Their is nothing keep in name. Lots of major brand have name which not related to them. Nokia, Reliance: Does these name Indicate what ype of product they create?

I'm guessing it's a play on words. "My" meaning well that's self-explanatory. And "lot" since this site has an abundance of things going on. Mylot of money I earned, mylot of pictures posted. mylot of friends, hobbies. I can go on and on but I guess you get my definition.