Andy Beal did an incredible writeup on Google's newest ad venture, gadget ads. As Andy has written, these are interactive ads that can be built in numerous ways and support CPC and CPM pricing.
Google Gadget Ads are designed to be interactive, can be built using HTML or Flash, and support both cost-per-click (CPC) and cost-per-impression (CPM) pricing models.
Here's an example ad of one of the coolest bands of our time sponsored by Honda:
Reuters calls this a "technology breakthrough" that will help Google break into the corporate brand market. WebmasterWorld members hope that the corporate brand market will embrace these ad features.
One member notes that this is a beta that is open to the entire advertising community (as it was previously in beta). Nice.
Cre8asite Forums members, however, are not enthusiastic because Google is apparently using the "widget" terminology - more specifically, they say that they're "distributing ads within widgets." With all the buzz lately about widgets that didn't fare so well, the ubiquitous term is wearing people out. I can't say I blame them. Widgets were cool before they became popular.
More coverage is at Techmeme.
Forum discussion continues at WebmasterWorld and Cre8asite Forums.