Austin based start-up GAMAGI has created a new augmented reality app for photo and video sharing. The app is designed to let you ”drop” pictures and photos in mid air where they are taken, so that your friends can come and look for them.

The product’s website sounds pretty compelling: “AugTag is the next evolution in photo sharing. We combined location based technology and augmented reality to bring you a ‘wow, that’s cool!’ experience to your images. Drop your Tag anywhere in the world, and AugTag users at that location will be able to view your Tag floating in mid-air!”

So far, the product is only available in closed beta. And it is only available for the iPhone 4s, the iPhone 5 and the iPad mini, though they plan to roll out additional versions in the near future.