3D-effect on any photo you shot using LensBlur (the updated Google Camera)
It's okay if you did know what technology enables the LensBlur (and similar effects) in Google's new camera app. I did not know myself before I saw this website I'm about to show you. Apparently, the upwards gesture you're asked to do when taking a LensBlur photo is used to create a depth-map in XMP metadata format. Photoshop artists use data to create a lot of interesting stuff. More info here from the Google Developers.
A developer created a neat browser application called "Depthy" which can use the XMP metadata of any photo taken using LensBlur to create a 3D parallax effect, much like the 3D effect option in HTC M8's gallery with photos taken using the Duo Camera (the depth-map data is there).
Link: http://depthy.stamina.pl/ (Just open it using Chrome browser on Android and then pick "Documents" to browse for your LensBlur Image)
I just tested it to create this GIF. Yes, it can create GIF files too. :)
More info about Depthy and the developer on XDA
Wouldn't be cool if Google updated the camera app to enable this feature with an ability to set the resulted image as your 3D live wallpaper?