The much speculated Facebook reader is real, it's called Paper and I have to say it looks beautiful. As shown in the the promotional launch video, the app is all gesture driven (though some of the gestures look impractical) and it looks to be a new and pleasant way to stay up to date with the stories that matter to you, with a design UI that takes a lot from other established reader apps like Flipboard.
Gizmodo summarized it best when they described the UI as "well as being fast, also sounds deliciously design-rich: wide photos will pan as you move your phone, objects pleasantly fade in and out, and news stories appear like Twitter-style cards." The one part of the UI that doesn't make practical sense to me is the moving your phone from side to side to reveal more of a wider image. It seems cool on the surface, but I don't like the idea of doing that in real life. I just want to read while getting from point A to point B, not oscillate on a bus seat. I also find it strange that as we push further into tech and digital functionality, design keeps trying to be analog (like the film camera with the manual shutter release and a letter in an envelope).
That aside, I am looking forward to trying this app, and seeing how news sources, like Fstoppers, fit into it.
Learn more on Facebook's gorgeously designed microsite, and try the app for yourself on February 3.