Valve has just announced Steam Greenlight, a new system that enlists the community's help in picking some of the next PC games to be released on the Steam platform. Greenlight is set to launch at the end of August.
Taking a cue from web-democracies like Kickstarter, Greenlight lets developers post information, screenshots, and videos for their game and seek a critical mass of community support in order to get selected for distribution. Steam Greenlight also helps developers get feedback from potential customers and start creating an active community around their game as early in the development process as they like. That's what I call a win-win.
For all the information on participating in Greenlight, visit the Steam Greenlight page.