GoPro Inc (NASDAQ:GPRO) has announced that those that had pre-ordered the GoPro Omni VR Camera will start receiving their shipment on August 18.

The $5,000 device features a cube-shaped metal housing that holds in place six Hero 4 cameras. The hardware is also complemented by software required to successfully create 360-degree footage. The company also revealed that the GoPro Omni VR camera will be available for new preorders in the coming week. The price tag might be a bit steep for most people but it is also available at $1,500 without the cameras and the software license.

Filmmakers have used such rigs to make 360-degree films for some time. However, the GoPro Omni VR camera is more than just four cameras placed in the right manner. All the cameras are connected and synchronized to a central computer that stitches the film together. The device also synchronizes the settings for the cameras so that the pixel level in the footage is the same. However, the software is expected to be the most appealing part of the rig. Transferring the footage from the SD cards is still a manual process but once they are transferred, the importer tool handles the rest by synchronizing the footage.

The software also allows the user to make basic adjustments such as stabilization or color correction. The video can then be uploaded to Facebook or YouTube in various resolution qualities including 2K, 4K, and 8K. Despite the hefty price tag for the GoPro Omni VR camera, it is fairly compared to various other rigs such as the OZO VR camera from Nokia Corp (NYSE:NOK) which costs $60,000. Facebook is also working on its own rig and the cost of owning one will be more than $25,000.

Most of the expensive rigs are built for commercial purposes. There are some rigs whose price range is at the opposite end of the spectrum such as Vuze which costs $799 and the LucidCam VR which costs $399.