An Indiegogo fundraiser campaign is getting massive attention as it plans to create the world's smallest 360-degree video camera. Dubbed the "Luna," the camera will be significantly cheaper and smaller compared to current 360-degree video cameras that are currently available in the market.

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The Luna, which is roughly the size of a pool ball, claims that it can deliver Full HD resolution videos with 360-degree view. The Luna can take videos with 1920 x 960 pixel resolution at 30 frames per second.

Memora, the company behind Luna, claims that the camera was able to achieve a 360-degree view by using two 190-degree fish-eye lenses, according to Digital Trends. The company was able to achieve this feat without the aid of any extra cable or camera rig, which is a common requirement for current 360-degree cameras.

On board the Luna is a 9-axial gyroscope which helps in stabilization. The gyroscope prevents the Luna record stable videos. The camera is also IP68 certified which means that it is waterproof, a feature that allows it to record underwater videos.

The Luna has built-in Wi-Fi connectivity which means users can share recording online and even host a live streaming video. It also has a 32GB storage drive which will hold a decent amount of video recordings.

Additional features include a 5-megapixel camera for taking still photos, a microphone to record audio and it also has a magnetic base which can hook to a wide array of accessories. The rechargeable battery can last up to 40 minutes on a single charge.

The Luna also comes with a companion app compatible with iOS devices. The app allows user to access live preview of their videos, as well as a VR mode which is compatible with the Google Cardboard.

Memora is currently trying to fund the Luna project through Indiegogo. Pre-orders of the Luna start at $249 for the Early Bird pledge. Memora aims to release the camera in October 2016, according to Wareable.

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