A few weeks ago YouTube released a more powerful set of APIs that allow web developers to create services that upload, watch, search, and comment on videos remotely.

Magnify, the video channel service recently focused on social networking, has been hustling to be the first to implement these APIs. What they’ve come up with is a widget called VidyUp (like gitty up, get it?).

Site owners can place the VidyUp widget on their pages to solicit videos from visitors. For example, we could use it here on TechCrunch if we wanted to hold a video contest. Instead of telling everyone to upload their videos directly to YouTube then send us the links via email, we could just embed a VidyUp widget and all videos uploaded through it would be handled in the appropriate manner (emailed to us, added to a particular page, etc).

All in all, it’s actually a decent little widget, although I’m sure just being the first to build something with the APIs was Magnify’s primary goal. The company says it won’t try to monetize the widget, but if site owners get a lot of use out of it, they will be able to turn their visitors’ uploaded videos into a full-fledged Magnify channel.

Update: we had the widget included in the post but removed it because it wasn’t playing nice with WordPress.