Lets users swap songs, photos, videos and contacts with each other.
US firm NearVerse has launched an innovative iPhone app called LoKast, which lets users share media between their iPhones locally, without the need for 3G.
Unveiled yesterday at the SXSW Interactive Festival in Texas, the app gets users to create profiles, and then add their photos, music, video, contacts and favourite web-links to it.
When two LoKast users are within 300 feet of each other and using the app, they'll be able to browse each other's media and download it, using Wi-Fi and Bluetooth where possible rather than 3G.
A new medium for music piracy? Seemingly not. For music, users will only be able to download 30-second clips of songs, encouraging them to buy the full tracks from Apple's iTunes Store.
Indeed, NearVerse is looking to sign deals with the music and film industries to distribute promotional content to its users. The Orchard, IODA, Monalis 360 and Magnolia Pictures are all on board.
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Meanwhile, bands including The Boxer Rebellion, The Ruse, Bazaar Royale, BlackMahal and Katia are all using LoKast to distribute free songs and videos at their SXSW gigs this month.
It sounds very innovative, although LoKast will only be truly useful if lots of people are using it - it needs a network effect.
How NearVerse makes money from it is another valid question: presumably it's planning to get revenues from a mixture of affiliate fees from iTunes Store music sales, and payments from bands and media companies using it as a marketing platform.
