There is a lot of mystery surrounding Magic Leap, an augmented reality technology that is having a ton of cash poured into it by tech investors, including Google (billions of dollars, at this stage). How the product actually works is not clear, nor is it clear how far along the development of this technology actually is - they skipped this year's Consumer Electronics Show (CES) which raised some eyebrows.
Demonstration videos show a pretty incredible melding of real and virtual elements (such as a huge whale "breaking surface" apparently out of the floor of a school gym). The thing about these sorts of videos is that any kind of demo like this is "fake" in the sense that you personally are not having the VR experience. At best, you are seeing an accurate simulation of what it should look like, and at worst you are simply seeing marketing propaganda.
While the technology has more than a whiff of vaporware about it in some respects, there are tech writers who claim to have experienced the technology and were wowed - so they saw something impressive, who knows whether the rest of us will ever get to?
If this is real, and it is able to be refined into a consumer product, it should be truly mind-blowing.