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Snapchat's going to have $130 video camera sunglasses

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Snapchat is getting into the glasses-making business. The new product – Spectacles – will be kind of like Google Glass, but for saving "Memories."

This news comes after the company announced it was changing its name from Snapchat to Snap Inc. on Friday.

Evan Spiegel, the company's CEO, said in a statement that "Snapchat Inc." worked when Snapchat was its only product.

"Now that we are developing other products, like Spectacles, we need a name that goes beyond just one product," Spiegel explained.

Then on Saturday, the newly renamed Snap Inc. released another statement detailing its upcoming Spectacles product.

"Imagine one of your favorite memories. What if you could go back and see that memory the way you experienced it? That’s why we built Spectacles."

According to Snap Inc. Spectacles will be sunglasses with a video camera that allows you to create Memories.

"We’ve created one of the smallest wireless video cameras in the world, capable of taking a day’s worth of Snaps on a single charge, and we integrated it seamlessly into a fun pair of sunglasses – available in 3 different colors!"

The video captured by the glasses is then wirelessly sent to the Memories section of the Snapchat app, Business Insider explains.

From there, you can choose to post your Memories to your Story so that others can view them.

According to CNN Money, the $130 dollar sunglasses' camera has a 115 degree field of view and is located near the left eye.

Business Insider says the glasses record up to 10 seconds of footage at a time – so the same as Snapchat currently does.

But you won't need to physically hold a phone, and that footage will be circular.

According to the source, that means the footage captured will be more like what the human eye sees.

Even though the footage captured will be circular, Snap Inc. says it will play "full screen on any device, in any orientation."

The company's statement says Spectacles will be "available soon." The Wall Street Journal reports they'll be out this fall.

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