Shoelace is a new local social networking app from Google's experimental Area 120 group (via Android Police). The app is meant to help you meet new people based on your interests and find things to do with them.
Inside Shoelace you'll find daily hand-picked activities, called Loops, and you can create your own activities and add them to a map, too. There's also a chat available so that you can talk with the people that you're doing things with.
In addition to hand-picking activities, Shoelace communities will often require verification to join. Google is also working to ensure that profiles and activities follow its rules and standards.
With its NYC-only availability and invitation requirement, it's clear that Shoelace is in early days. Google is likely testing Shoelace and monitoring users' response to it before deciding whether or not to make it more widely available. The company has shown that it wants to create a busy, popular social network after launching so many of them in the past, and Shoelace appears to be Google's latest attempt at striking social network gold.