I haven't watched the full interview yet, I guess it's way too early to say if it's a fraud or not yet, but @benpicko's points really don't say anything one way or the other either. It's probably common practice for both frauds and actual projects to be marketed this way. Something to keep in mind when it comes to frauds is that they, for example when it comes to perpetual machines, cold fusion, zero point energy, and all that often is "we're not finished yet, but the breakthrough/big announcement/unveiling is just around the corner". That they put their real names out there isn't an issue (Harold Camping and Andrew Wakefield come to mind as people who've been disproven again and again, but keep attracting followers), Patrick Klepek mentioned confirmation bias a couple of weeks ago, and this stuff generally relies on the same thing - people remember the "hits" and forget the "misses", in this case this would be important when it comes to media attention - announcing an extraordinary project, experiment or find will always get more attention than when it's disproven or found to be fraudulent, as "Yeah, that arsenic microbe life form we had a lot of coverage about 6 month ago turned out to be announced way prematurely and probably was wrong" is not as newsworthy as "ELVIS SIGHTED IN KENTUCKY, SCIENTISTS BAFFLED!", and then people remember the big announcement, but not how it turned out to be all BS. Even if established businesses understand and remember that something doesn't work, upstarts could still be tricked into spending money for something that would seem to give them an edge against the established competition, and the guys behind this project could just keep saying "No, we're still working on this, but it's going to be finished very soon!".
Let's wait and see for them to release the SDK or more detailed information, until then, it's not impossible that they're on to something, and for us as consumers it probably doesn't matter either way, but upstart game developers should probably be a bit cautious in spending their budget on a license for this tech.
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