Unlike the 3D craze that ultimately bottomed out a few years ago, it's looking like 360 video is the way to go in offering a truly immersive multimedia experience.

Intel, besides its primary business in semiconductors, is also heading in that direction by having a few plays in both the hardware and software that make 360 video content.

Combined with its RealSense camera and its recent acquisition of Replay Technologies, Intel is creating a new way to experience 360 video especially in sports entertainment.

The two companies originally started working together during the recent NBA All-Star Weekend where they showcased their "free dimensional" or "freeD" video technology. Aside from the 360-degree view of the game, the highlight of their efforts shined during the slam dunk contest.

Like the "bullet time" effect pioneered in the Hollywood hit movie "The Matrix," Intel and Replay Technologies offered NBA fans a new way to watch the game. For the All-Star Weekend, Replay Technologies used proprietary technology allowing fans to watch the game from every angle.

A total of 28 ultra high-definition cameras placed around the court were connected to Intel-powered CPUs and servers that produced never-before-seen 360-degree replays, slo-mos, freeze frames and other special effects.

In a deal rumored to be worth $175 million, Intel has acquired Replay Technologies' tech and says it will improve the performance of freeD technology. In addition to delivering faster freeD processing using Intel's hardware, the company also intends to add in new features like manipulating and editing personalized content.

"Together, we will scale this new category for sports entertainment that we call immersive sports, which is attracting the attention of leagues, venues, broadcasters and fans ... For athletes, coaches, broadcasters and fans, the ability to capture, analyze and share data adds compelling new dimensions to the game," says Intel SVP Wendell Brooks upon announcing the acquisition.

Besides the NBA All-Star weekend, Intel and Replay Technologies also worked with the NFL to bring the same immersive experience for football fans during the Super Bowl.

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