The quality of the on-board camera is apparently similar to a GoPro Hero3 (1080p), and it can also take 12 megapixel stills while travelling at up to 25mph. Battery lasts around 20 mins and Lily can reach an altitude of 100 feet.
Some of the more obvious applications, include snow and water skiing, rock climbing, mountain climbing, and mountain biking.
At a RRP of $999 (£637) it is clearly aimed at wealthy enthusiasts and professional athletes, however, if you compare it to the cost of a high-end DSLR plus selfie stick the price point, although expensive, isn't crazy. Lily can be pre-ordered for $499 (£318) directly from the company's website: www.lily.camera and the estimated shipping date is Feb 2016.