It was clear that the Google Android platform would see some kind of platform to offer applications from developers to Android users. The Android team revealed some early details of the Android Market yesterday.
The Android Market is an open content distribution system that will help end users find, purchase, download and install various types of content on their Android-powered devices.

Developers will be able to make their content available on an open service hosted by Google that features a feedback and rating system similar to YouTube. Google chose the term "market" rather than "store" because they feel that developers should have an open and unobstructed environment to make their content available. I think they chose market so they do not sound like a copycat of the Apple iTunes App Store.
Developers can expect the first handsets to be enabled with a beta version of Android Market.
Via the Android developer site.

The first winners of the Android Developer Challenge I were also announced yesterday. More details about the winning apps can be found here.