The Nico360, world’s smallest 360-degree camera, just announced pre-orders on crowdfunding website Indigogo offering a 40 percent off for early-birds. The tiny camera measures 1.8 inches by 1.8 inches and weighs a mere 109 grams (about a quarter of a pound), which makes it perfect to fit into a pocket for easy access. The camera is also loaded with features designed to attract social media aficionados with two 32.7 megapixel cameras, 1440p resolution, 32 GB memory on board, 5G WiFi, Bluetooth 4.0, stereo microphone and rugged waterproofing.

The camera provides built-in stitching (meaning no special software is needed to re-render the video as 360), enables VR capable 360 video and is capable of livestreaming over the WiFi connection to services such as YouTube 360 or Facebook Live.

The Nico360 is expected to retail at $199 USD, but donators to the Indigogo campaign can get it for $99 (and get their name on the Nico360 web site). The camera also has a number of accessories available such as a VR headset (for mobile), an extra battery and selfie-stick, strap-mount, tripod-mount and even a wrist-mount for about $89 extra (retail $119).

Specs and details on the camera are available on the Nico360 website and further information is accessible via the Indigogo campaign (which has one month remaining).

Image credit: Courtesy of Nicocam via Nico360.com.

Nico360’s place in the emerging 360-camera market

Nico360’s competition includes the Rioch Theta S, Samsung Gear 360, and the LucidCam (Lucid VR) 360-degree camera. Facebook, Inc. also intends to launch a 360-degree VR camera to go along with the company’s push into 360 picture and livestreaming capability. The Nico360’s claim to market is that it’s smaller than the above listed competitors and also cheaper at $199 USD: the Theta S price is $346.95 USD, Samsung Gear 360 is $350 USD and the LucidCam is expected to retail about $330 USD.

Consumer-aimed 360 VR cameras have been building up in the market for two years now as social media services, such as Facebook 360 and YouTube 360, have arrived to support them. Viewable from the web or with a mobile phone, 360-video can also be accessed with a VR viewer such as Samsung Gear VR, Google Cardboard or a VR rig such as the Oculus Rift or the HTC Vive.

“2016 will also be a pivot point in how we define video,” Chris Paradysz, PM Digital CEO told Marketing Drive, a social media industry marketing analysis website. “Until this point, we’ve seen video through a relatively one-dimensional lens–something that’s created, recorded, produced. We will see the live video, or the streaming experience, become more powerful. People have a much greater desire for community, in the moment, shared experiences.”

According to a report from CCS Insights, virtual reality and augmented reality devices sold in 2015 reached 2.5 million and that is expected to expand to 24 million by 2018; Google Cardboard was also downloaded almost 10 million times. With so many people potentially viewing 360-video, it’s a good time for amateurs and professionals to start producing it.

As 360-degree and VR cameras proliferate for consumers and professionals alike more platforms for social media and publication will rise. This demand has already been seen in the emergence of YouTube 360 and Facebook Live’s 360-video capability. This expansion can also be seen in the launch of VR social media platform Zeality and the upcoming integration of VR capability in Android N (the next-gen Android OS version) with Google Daydream.

Featured image credit: Courtesy of Nicocam via Nico360.com.