Weta Workshop and Magic Leap changing the face of virtual reality

Magic Leap, the US start-up company in the field of virtual reality, is on the cusp of releasing Cinematic Reality.

In February the company announced it had raised more than $50 million to advance product development and commercialisation of Cinematic Reality technology. Now, sources say Google is leading what could be a $500 million funding round for Magic Leap.

The goal of Cinematic Reality is to create the most natural and human-friendly wearable computing interface in the world, says Rony Abovitz, President, CEO and founder of Magic Leap.

The device is yet to be released, but judging from the Magic Leap website and cryptic comments from Abovitz, it is thought to be an ultra-sensory, wearable virtual reality device that weaves 3D light sculptures into the world around you.

"In this new world of the intimate relationship between computing and human sensory systems, Magic Leap is bending its proprietary technology to meet the very human needs of our future users and co-creators," says Abovitz.

Weta Workshop, the New Zealand special effects team behind films such as the Lord of the Rings and Avatar, is joining forces with Magic Leap to create the device.

Co-founder of Weta Workshop and Magic Leap board of directors' member, Richard Taylor, says this creation is nothing short of remarkable and will forever change the way we interact with images and information.

"The wearable technology they have developed is revolutionary in its ability to create amazingly immersive and fantastical experiences," he says.

"What is remarkable is how well the human body and mind respond when technology respects biology, so truly magical experiences become possible," says Abovitz. "Our technology exists to unlock the creative spark found in all of us.