It's like Twitch, but for VR.
VREAL is the innovative new streaming platform for VR
The Twitch comparison is massively oversimplifying something that will change the landscape of streaming.
Let's say you're watching someone streaming a VR game. You'll be able to pop on your own VR headset and essentially occupy the same space as the streamer, freely moving around the world to watch them play as the headset re-renders their game.
You won't just be an unseen, silent spectator either. Viewers can be both seen and heard in the streamer's game - if they allow it - and can see and hear each other, allowing for a new model of social interaction on streams.
Of course, not everyone will have the rather pricey hardware straight away. If you have a headset like Gear VR or Cardboard, you'll be able to watch 360 degree videos, while streams can also be viewed on 2D on monitors as normal.
It sounds like a fascinating prospect. There's a VREAL beta this summer, so we'll learn more about the platform then.