Earlier today, TechCrunch managed to get its paws on around 50 megabytes of pictures and documents outlining an upcoming Facebook product – namely, “a new photo sharing app for the iPhone,” which the website admits “looks amazing.”

Internally, the application is being referred to as “HoverTown” or “WithPeople.” According to TechCrunch, it’s a mixture of a variety of apps we’re already familiar with – Path, Instagram and Color – “built entirely on top of Facebook’s social graph.”

The service currently looks like it’s going to debut as a standalone app, however there are also hints that it will integrate with the Facebook app, too, which would be handy. Unfortunately, little else is known about the application – TechCrunch admits that it is still sifting through the aforementioned 50 megabytes of pictures and documents, and promises “more to come” tomorrow.

We’ll keep you posted.