Used to be called the ” The Venice Project”
It’s as cool as the ad makes it out to be. I’m now testing the beta version; Braindead, Alliance Atlantis Sci-Fi, Gamestar TV, Bridezillas, Warner Bros. Records, and World Poker Tour are all accessible on Joost, with more channels being added every day. There is also chat, IM, and searching capabilities. They even have a Bollywood channel :) (a total of 26 channels at the moment)
Not sure how to invite more people to test this… I have 0 invites left. Let me know if you are interested and when I can invite people I’ll let you know.
More info via Wikipedia here.