I created a simple web app (Mytipnetwork.com) that lets a blogger create a page where their readers can tip them off to interesting stories, images or clips that they find on the web.
example page
http://www.mytipnetwork.com/n.php?site=adtoferlnn
It works pretty simply you add a tipbox image to your page that tells you and your readers how many tips you've recieved today from them. And you can respond back by saying what you got tipped by(meaning heard for the first time and/or found interesting)
As a tool, what I thought it might achieve is help bloggers get inspired to their next blog post by their readers.
Problem is I don't have a blog, I don't have friends who are bloggers, and my only available currency towards promotion is time and energy.
I think the first thing you would need to do is start a blog. It's the whole 'eat your own dogfood' thing. If you had a blog you could do linking agreements with other bloggers to spread the word, and you would be able to better test your service.