Yahoo has launched yet another site, and they are so sure you're going to want to jump on using BravoNation, they didn't even wait for an Alpha version!
We're all familiar with the terms "Alpha" and "Beta", but apparently sites can now be launched as a "Rough Draft" as Yahoo has done with BravoNation. (Next will be scans of scraps of paper with scribbles on them from the diner down the street) It seems Yahoo thinks that the idea of earning achievement badges on video game systems is such a cool idea that people on the web want to have their success noted in some way also. Of course, if they all look like this screen shot from little.yellow.different., I'm not sure how many people will want these on their sites.
Once the system is fully up and running, you'll be able to grab an API and make Bravos (their name for the awards) for your site. Suggestions from next.yahoo.com includes ideas such as commenter of the day, 100th post, 2 years of membership and so on. People will then be able to use the awards wherever they like such as on their blog.
This seems like a "cute" idea, and I can foresee these quickly adding to the clutter that already exists on MySpace profiles, but as a serious tool? It seems unlikely.