Duff McKagan feels right at home in Walking Papers

Duff McKagan has done it all -- from Guns N' Roses to Velvet Revolver, he's rocked his way across countless stages.

Now the Rock and Roll Hall of Fame bassist is bringing those skills to Walking Papers, a new Seattle-based band featuring Screaming Trees/Mad Season drummer Barrett Martin, along with vocalist/guitarist Jeff Angell and keyboardist Ben Anderson, who have both performed in the Seattle-based group The Missionary Position.

For McKagan, joining Walking Papers is a return to his Seattle roots. "Seattle is a very small musical community. We're all friends. We've all jammed with each other...We're fans of each other's music," McKagan told CBSNews.com. "It's the four best guys to do the thing that we're doing. And how did it become the thing we're doing? Who knows? The songs are great. It just happened. It's that musical happenstance of four guys meeting at the exact right time. The chemistry's just right. We're pals. And here we are."

The pieces started coming together in spring 2012 when The Barrett Martin Group and The Missionary Position shared a bill at a Seattle venue. A jam session followed, and soon Martin and Angell called on McKagan and Anderson to join what would become Walking Papers.

Angell said the members try "not to stand in our own way." Which also means the band's self-titled debut album came together really fast. "It was delivered. We took it in, gave it some affection and care and it's grown into a healthy, living thing," he said.

As for the band's sound, McKagan said he can't really pin it down, describing it as a mixture of soul, blues and rock. Since its release this summer, the album has been getting quite a bit of positive buzz. But the guys don't let it get to their heads; they consider themselves a baby band. "Too much good press could make you lazy," McKagan said.

So, is Walking Papers here to stay? "You can't do more than one thing at once," McKagan said. "This is what I'm doing right now and the only thing I'm doing."

One thing is for sure, the chemistry among the band members is strong at the moment, as Walking Papers already started playing a new song while on the Uproar tour this summer.

"Every time we have a sound check we can't help but write some new thing," McKagan said.

For more on Walking Papers and McKagan's wealth management firm, check out the videos above.