The NUads will support voice and gesture-based user interaction, allowing customers to call up more information or obtain directions to the nearest retailer selling the product.
Toyota, Unilever and Samsung Mobile USA have all signed up to the service, and will market products to Xbox 360 users through interactive video.
Microsoft claims that NUads will be easier for advertisers to implement than previous interactive advertising because they only require web-based content appended to existing 30-second ads.
"NUads marks the beginning of a new era for TV advertising. It delivers the one thing traditional TV advertising is missing - engagement," said Ross Honey, general manager of Xbox Live entertainment and advertising.
"We developed NUads to breathe new life into the standard 30-second spot. With NUads, brands can get real-time feedback from audiences, making TV advertising actionable for the first time."
Microsoft is yet to announce whether it will begin serving NUads in the UK as well as the US this autumn.