Snapchat is probably a company and app that many of you guys are familiar with, even if you don’t use it. However recently the company has decided to undergo a bit of rebranding and has since changed their name to Snap Inc. In addition to the rebranding, the company has also unveiled a new product in the form of the Spectacles.

We should note that the rebranding to Snap is only for the company itself as it appears that the app will continue to be named Snapchat. According to Snap’s CEO Evan Spiegel, “Changing our name also has another benefit: when you search for our products it will be easier to find relevant product information rather than boring company information or financial analysis. You can search Snapchat or Spectacles for the fun stuff and leave Snap Inc. for the Wall Street crowd :)”

As for the new product, in case the photo above and the name wasn’t obvious, this is Snap’s take on wearables in form of a pair of glasses that can take photos, kind of like a more funky version of Google Glass. How it works is pretty simple: you put them on and at a touch of a button, it records 10 seconds of video from a first-person perspective. Press it again and another video will be recorded, all of which can presumably be shared via the app itself to your friends and family members who use Snapchat.

Pricing of Spectacles has not been revealed but according to The Wall Street Journal, it is expected to be priced at $130, and it is also expected to have limited availability this coming fall. This is because apparently Spiegel sees the Spectacles more as a toy rather than a must-have tech device, so obviously not investing into so much inventory makes sense.

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