My, my. It’s been a big month for Snapchat– from rolling out some new ad units, to getting it’s Snapcash feature rolling, and now this. This morning, Snapchat has unleashed yet another tool for their users called Geofilters.

Geofilters basically combines the idea of geocaching with social photo-sharing. Artists can create custom filters for specific locations which will only be available to use if they are in the area.

Businesses will of course be able to submit as well, but it is unclear for now whether Snapchat is planning for Geofilters to be another revenue source for the app.

It will be interesting to see how this catches on with users and whether or not collecting these Geofiltered Snaps will turn into some kind of competitive sport. Marketers might try their hand at creating Geofilters for events and retail locations as interactive, mobile and social display ads. This will be fun to watch.