WidgetBox has just launched a new product called, App Accelerator. The purpose of the application is to provide WidgetBox developers with an easy way to create their own stand alone applications on Facebook from their existing widget library. In the past week over 200 applications have already been launched using the beta service.

Back in June we reviewed WidgetBox’s application which enabled WidgetBox developers to place their widgets within the WidgetBox directory on Facebook. The new service is comparable Clearspring’s Facebook distribution offering which we reviewed earlier this month.

WidgetBox has also provided provided a wall for each widget and has created a system in which developers can earn money through the new program. There are currently two types of advertising: cross merchandising of applications and banner advertising on the canvas page. According to the Widgetbox executives whom I just got off the phone with, these ads are targeted ads. Rather than creating their own advertising system, Widgetbox has partnered with an undisclosed company who currently offers advertising solutions on Facebook (there will be an announcement tomorrow regarding their advertising partner).

Overall, this seems like a pretty great offering for widget developers. As I wrote about last week though, I think there is much more growth in interactive applications rather than stand alone widgets. Michael Dearing, the CEO of Widgetbox, agreed but emphasized that Widgetbox encourages a free market and thinks that there is still plenty of space for the success of widgets on social networks. I will be posting screen shots and sample applications as a follow-up shortly.