The 360Fly 4K is a sphere-shaped 360 degree action camera, and while the tiny camera isn't designed for production-worthy video, it looks like a neat little action camera for capturing adventures with virtual reality.
Don't let the name fool you though -- the 360Fly 4K isn't actually a 4K camera. A true 4K camera has a width of at least 4,000 pixels. The 360Fly 4K needs to add up both sides of the 2880 x 2880 resolution to come up with 4,000 pixels. Still, the 4K version sees a jump up from the approximately 1500 x 1500 younger HD sibling.
The 360Fly uses a single lens to capture a 360 by 240 degree angle of view -- that means you can see what's in front of and behind you, but you don't see underneath the camera (which is where the mount is anyway) from that single lens. The camera is designed to withstand water, dust and drops and is pretty compact, making it easy to use in a number of different types of mounts for catching action.
The 360Fly uses Wi-Fi or Bluetooth to communicate with a smartphone or tablet, and now there's also a desktop version of the editing software.
The 360Fly is an affordable way for the average consumer to take 360 video without expensive VR kits. But, keep in mind the 360Fly only has a single lens, so the video quality isn't going to be as good as the cameras that use multiple lenses and sensors to capture a 360 perspective. While there are certainly some downfalls to the 360Fly, it's the camera that helped make 360 accessible to everyone. The market has limited competition right now, but with the upcoming release of the Nikon KeyMission and Samsung Gear 360, that could all change quickly.