One of the new features of Android 4.2 and the Nexus 4 is a camera mode called "Photo Sphere". This new camera mode, shown off in a quick promotional video from Google, is a mash-up of the traditional panorama mode offered starting in Android 4.0, and something like a "Gigapan" photo.
Basically, the Photo Sphere overlays a UI with a starting point for you to take your first photo. After it is taken, It'll give you another point of reference to take a photo that is overlapping onto the first. Over and over you take pictures that overlap one another until you have a large area covered. It takes some time to render, but you are then presented with a large scrollable panoramic image that will remind you of street view in Google Maps. It's quite an interesting idea, and we can't wait to get our hands on it.
More: LG Nexus 4 Forums