Snapchat isn't just an app anymore.
On Friday the company officially renamed itself to Snap Inc. and announced a pair of camera-equipped sunglasses called Spectacles.
After Business Insider obtained and published a video of the glasses in action, Snap officially announced the news in The Wall Street Journal.
Snap has been secretly working on these glasses for years, dating back to its acquisition of a small startup called Vergence Labs in 2014.
Sources close to the company say CEO Evan Spiegel and cofounder Bobby Murphy have been closely involved in making the glasses with a small, top-secret team known internally as Snap Labs.
We don't know everything about how Snap's Spectacles will work, and the company isn't saying when they will be available besides "this fall." But here's what we do know so far:
SEE ALSO: Secret video shows Snapchat's new glasses
Snap's Spectacles will cost $129 and come in three colors: black, teal, and coral. They will be available in limited quantity sometime this fall.
The glasses record up to 10 seconds of circular video through a 115-degree-angle lens, which is designed to look closer to how the human eye sees.
Snap CEO Evan Spiegel recounted a hiking trip he took while wearing the glasses to The Journal:
"I could see my own memory, through my own eyes—it was unbelievable. It’s one thing to see images of an experience you had, but it’s another thing to have an experience of the experience. It was the closest I’d ever come to feeling like I was there again.”
You tap the side of the frames to start recording. A light will then illuminate for the length of the video.
See the rest of the story at Business Insider