Telepathy One was created by a Japanese startup and is said to be a more affordable version of the Google Glass.
It is a wearable computing device with small displays that deliver information to one eye. There is also a camera on the device that takes photos and video.
Its main goal is to allow users to share and view videos and photos with friends.
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While it looks strikingly similar to Google Glass, there are a few key structural differences between the two.
The device wraps around the back of a person's head from the right eye to the left ear and is held in place with in-ear earbuds.
When a user puts on the device, they can see a virtual five-inch display via a micro projector.
Like Google Glass, the wearer controls it by using voice commands, touch and hand gestures.
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Its creator is Takahito Iguchi, a smartphone app developer. He was inspired to make it after he realized that using smartphones requires many steps.
"Using a smartphone itself is cumbersome. You pull out the device and start an app. It involves 13 different steps just to share photos with your friends. I want to eliminate these steps as much as possible. Sharing your thoughts instantly is what social networking is all about," he said.
He made a prototype of it in just two months, in time to show it off at SXSW in Austin last month.
"The core components already exist at Japanese manufacturers. We'll also team up with major electronics makers for mass production. Our role is to bring together excellent Japanese technologies in a way that appeals to customers."
"Its functions are quite simple, so people can photograph, record and share what they see with their friends."
It is set to go on sale later this year. While Iguchi does not yet know how much it will cost, he said it will be less than Google Glass.