Condition One, the augmented reality app backed by Mark Cuban that lets users view videos from a 180-degree field of vision, just released its version 2.0 and Business Insider is “more impressed than ever.” The company, led by Academy Award nominated storyteller Danfung Dennis, launched an updated version that is “filled with cool new ways to watch video, particularly full high-def videos filmed with GoPro or RED epic cameras,” according to the article.

“Condition One works by taking distorted video shot with a wide-angle lens,” notes Business Insider. “The software then projects the video onto a dome that melts away distortion allowing users to see above, below, left and right.”

It targets “high-quality content creators” like businesses looking to add angles to videos aimed at consumers.

“Imagine a day when you can interact with a music video via Xbox Kinect and focus on the drummer instead of the lead singer,” says Condition One COO Andrew Chang. “Condition One’s software doesn’t provide the traditional lean back experience we’re used to.”

The flagship product is an immersive video player for the iPad and iPhone, but the company is also developing a Web player that will allow viewers to interact with videos via mouse.

The article includes an impressive 30-second video demo. The Condition One homepage also has a video featuring Dennis on the CES show floor.