Everything we know about Magic Leap's mysterious new headset that cost $1.9 billion and 6 years to create

After six years of hype videos and nearly $2 billion in funding, the secretive Florida startup that's backed by the likes of Google and Alibaba finally unveiled its first product this week: Magic Leap One.

It looks nuts.

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Magic Leap

The Magic Leap One is an augmented reality system.

But, uh, what is it? 

Magic Leap One is a futuristic-looking augmented reality headset that's powered by a small, circular computer that hooks onto your belt. All the stuff that your smartphone does? It does that stuff, but it does it within your field of view. Instead of looking at your phone for email, you can project your email right into the world in front of you (where only you can see it). 

After this week's big unveiling, we learned a ton about what Magic Leap is making. Here's everything we know so far.