Welcome to your band's blog. You can change the settings on this so each band member can co-edit the same blog.
You can use this blog to tell readers about your news and gigs and song writing. Update it as often as you need to and use it to interact with your members. They will be able to comment on your posts and give you feedback. You can 'tag' each post with relevant search terms so they can be archived and readers can find them by theme.
You can add links as you would with a text module. As well as highlighting important passages. It's also a good idea to add a relevant photo to the post to make is more engaging.
Don't forget, you can amend the title of this blog, and delete this post once you get started.