Matrix help

Hello, I want to hook a number of LEDs to a single pin and control each of them individually. Essentially, I want to create my own LED matrix. I am wondering if this can be accomplished with a software solution or something like a bus would be required? I am aware of the Sparkfun matrices that use the SPI backback. Is the SPI route the most feasible? Thanks in advance.

Take a look at the threads on the TLC5940 chips.