The Orah 4i is the first virtual reality (VR) camera on the commercial market that shoots 360-degree videos that can be live-streamed. It follows similar camera options from Kodak's SP360, Google's GoPro rig, and Nokia's Ozo that lack the livestreaming feature. Orah 4i captures 360-degree 4K resolution video while ending the need to stitch together footage.

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VideoStitch is the company that developed the new VR camera. The Orah 4i is smaller and more portable than the camera rigs the company makes stitching software for.    

In fact, the livestreaming VR camera is small enough to fit inside a backpack. It is built from 100 percent anodized (elctro-chemical process) aluminum and includes four fisheye lenses, four Sony Exmor image sensors, and four microphones, according to Engadget.   

In a demo CEO Nicolas Burtey attached the 360-camera to a Stitch Box using an Ethernet cable. He then linked it to a smartphone app that set up the live-streaming.

Burtey explains that VR fans could log into a streaming platform such as Facebook or YouTube. It could then be viewed using devices including Samsung's Gear VR.

The new 360-degree camera includes a few technical limits. For example, the live-streaming actually includes a 30-second delay, which becomes a problem for journalists reporting a big story at news events. Another issue is that the Stitch Box is not totally portable until it is hooked up to a battery pack, which would add to the total cost of the setup.

The Orah 4i is a state-of-the-art VR camera but also comes with a steep $3,600 price tag. However, the company is running a promotion now that slashes the price in half to $1,800.

VideoStitch VP Daniel Doornink explains that the target market of the 360-degree VR camera is between Hollywood and the consumer. It was built for the "prosumer," which includes professionals who want to live-stream video.

In related news, Facebook wants large media companies such as The New York Times to use the social network's livestreaming video service, according to Re/Code. After reporting last month it wants to pay celebrities who use Facebook Live this is the first time it has admitted it is also giving money to media companies.