In Flickr, you can tag your photos to categorize them. On Facebook, you can tag the faces in your photos to link them to the actual person. (or spam others) Now, stickybits gives you a way to tag objects in the real world with digital content like photos, videos or messages. Tagging is done by scanning the bar-code on the item using their application that is available on iPhone and Android. If you are the first to scan the bar-code, the content that you tag onto it will appear first. There is also a history log to track if there's new content being attached to the item or when it changed location.
Currently the business model is selling packs of vinyl bar-code stickers so you can tag any items you want by simply stamping the stickers on them. There's nothing stopping stickybits from charging for exclusive rights to add content to items first and maybe even show related items when you scan something. Google Adsense for the real world anyone?
Now this is a brilliant idea that is well executed.