Carnegie Mellon student and a future Google intern Sohail Prasad built a working torrent streamer at the TC Hackaton. NowStream is a mobile app that rethinks the way people consume media on their mobile devices.
The app allows you to grab a torrent link, pass it to the interface, and then begin streaming the video instantly.
NowStream allows easy, one-tap streaming from sources never before supported on the iPhone/iPad (esp. torrents): NowStream. Making media fun again.
The product will be available soon at Nowstre.am.
Here's the NowStream app in action:
You can sign up for the beta here.