Google invests in Magic Leap, Next Gen 3-D Reality?

All, Announcements

The South Florida Company Magic Leap which is led by a successful tech entrepreneur, Rony Abovitz is promising “cinematic reality”.
Speculations are Google and other investors are planning to invest $500 Million. Andreessen Horowitz may also be one of the investors. Magic Leap already announced $50 Million funding earlier this year.
Although Abovitz and Magic Leap have been very secretive about their product specifications, they say they can deliver a more realistic 3-D experience than any current technology including Oculus Rift. Oculus Rift was bought by Facebook earlier this year for $2 billion. Is it Facebook Vs Google again?
Abovitz refrained from giving out much information due to the competition. But, Abovitz has given a teaser of how Magic Leap would be through their app called Hour Blue. The app Hour Blue was used during the Comic Con wherein a person would point the camera to the Blue Hour flyer handed out during the event and then the 3-D dragon pops up on the screen.
screen320x480
 
The Robot like 3-D figure which welcomes you.
According to what has been revealed till now there are assumptions that Magic Leap will show you high resolution images right in front of your eyes. There may be different angles and depths that will alter where you focus. Magic Leap promises you all of this in a single pair of glasses!
Magic Leap has been around since 2011 and is headquarted in Hollywood which houses more than 100 team members. Abovitz revealed in an interview that he was reluctant to move to Silicon Valley or Boston just for funding. Been brought up in South Florida, he wanted to make Magic Leap happen from home grounds. He believed there is a good quality of life and the cost of living is much lower than Silicon Valley.
Magic Leap also has good relationships with the Weta Workship who did special effects for movies like “Avatar”, “The Hobbit”. Their founder Richard Taylor is one of the board of directors. A Magic Leap team is embedded with them in New Zealand.
Are the two silicone-giants, Google and Facebook now competing in terms of augmented reality too? Google is already in competition with Facebook on multiple technological fronts such as social networking (Google+ Vs Facebook) and their project which promises internet to the masses – Project Loon Vs Facebook’s project called Internet.org.