Announced today by Google, the Chromecast is an HDMI dongle that plugs into your HDTV and provides streaming access to video and other content over your home’s Wi-Fi network.

Spiritually a successor to the Nexus Q, users will be able to stream video off Netflix, YouTube, Google Play and Chrome. In addition to the Google Chromecast dongle, the user will need Google Chrome on their personal PC or laptop in order to stream video.

Users can additionally stream video from Android smartphones and tablets as well as iOS mobile devices. Also available is a new Chromecast button within mobile applications and Google Chrome that indicates sending a video stream to the television. Google is launching a Google Cast software development kit to allow developers to add Chromecast support to their mobile applications. Beyond the Chromecast, Google likely wants to license the Google Cast streaming technology for third party devices.

While the Nexus Q had a fairly sizable price of $299, the Google Chromecast dongle clocks in at just $35. On top of the low price, Google is partnering with Netflix to offer three free months of Netflix Instant. That deal is available for both new and current subscribers. Since Netflix Instant is $7.99 per month, it’s basically like purchasing the Chromecast dongle for $11 while continuing to pay for Netflix Instant service.

We have put our money where our mouth is and ordered a Google Chromecast. Expect a review on the device in the coming weeks. If you are interested in the Google Chromecast HDMI dongle, they are selling out fast. The first batch sold out within an hour and the current ship date on the new batch is August 7.

Keep an eye on Amazon and Best Buy as well; both stores are expected to carry the Chromecast potentially as early as today. We will post it immediately on Ben’s Bargains once it’s live on either retail site. (In stock on Amazon now! Click Here)

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Check out a video of the Chromecast in action below:

Shut Up and Take My Money: Google Chromecast