App seems pretty fun! It's live streaming with 360 video. The resolution is low, and to capture 360 content you need a 360fly spherical camera, but it's an interesting first foray into bringing 360 live video to the general public. As a viewer, you can click around in the 360 environment OR switch to VR mode and view through a Cardboard viewer (FYI if you've ever getting a Cardboard viewer, get Unofficial Cardboard-- the lenses are adjustable, unlike other similar products http://www.unofficialcardboard.com - I'll Hunt that separately). There's also interactive capabilities so that the audience can comment and interact with each other as well as the broadcaster. As a side note, you can also stream in regular 2D on this app.
Real Virtual Show - Ep. 4 Video Games to Virtual Reality w/ Daniel Dilallo, iTunes @ http://bit.ly/RVSiTunes