Independence Day filmmaker Roland Emmerich and entrepreneur and producer Marco Weber are diving deep into virtual reality by launching the virtual reality company VRenetic, which will specialize in “accessible, social-media enabled 360-degree streaming.” The company is privately held and headquartered in West Hollywood and Emmerich is its chairman and co-founder.

The company’s first product – VResh – combines a free broadcasting and viewing application with mobile integrated cameras and proprietary headsets that empower users to share real time 360-degree experiences with the world  without the big expense that has hampered high-quality VR adoption.

VResh is the first app to run on the brand new VRenetic Media Engine, a platform designed and developed in-house by VRenetic to power an array of social and immersive content experiences. Other apps – both developed by VRenetic and by others – will be able to tap into VRenetic’s infrastructure in the future.

“Sure, the hardware for professional 360-degree content streaming already exists, but it’s totally inaccessible to young, cost-conscious users,” said Emmerich in a statement. “The VResh platform unlocks all of that, and more. Users will have 4K 360-degree VR streaming capabilities paired with real-time two-way audio, which does wonders to socialize and personalize what has thus far been a solitary, tethered-to-a-computer kind of experience.”

“The VResh solution creates a new form of virtual reality for the imaginative consumer. It offers an experience that is user friendly while being incredibly immersive, social, and fun, and we feel that VResh has the potential to be used as frequently as traditional social media platforms,” added Marco Weber, CEO and co-founder.

Later this year, the VResh platform will be compatible with 360-degree cameras, as well as VRenetic developed lenses, for both iOS and Android devices. Using average cellular network data or Wi-Fi connectivity, users will be able to stream publicly, in private groups, or one to one, with synchronous two-way audio, a crucial feature that is absent from all other available platforms (for example, today’s leading social media and content platforms can receive text comments and hearts/likes, but viewers are unable to conduct a conversation with the broadcaster in real time, because of latency and delays inherent in live streams). VResh will release branded headsets that will also work with its app on any compatible Android or iOS device.