Snapchat is no longer Snapchat! Yes, it is now called Snap Inc., as it is no longer just an app.

The company released a new product called Spectacles, a video recording sunglasses.

Spectacles records video to upload to Snapchat’s Memories section.

Snapchat announced its name change on Saturday in a blog post by its CEO and co-founder, Evan Spiegel.

Spiegel wrote in the post that the name change was brought on by two reasons:

1. The company is moving away from just enhancing Snapchat by creating a hardware product.
2. Anyone can search for new features and products specifically around Snapchat or Spectacles, as any business news will now refer to Snap Inc.

“We hope this change will improve your experience with Snapchat and Spectacles, and create a structure that allows us to continue making great new products for you and your friends,” he wrote.

Snap Inc., which is now a “camera company” launched its first hardware product Spectacles.

It is a pair of sunglasses, with a 115-degree angle lens, that with a single tap, you can record up to 10 seconds of video. Tap again and you can record up to 30 seconds of video.

You can even transfer anything you record on Spectacles via Bluetooth or WiFi to Snapchat’s memories section.

Videos recorded by Spectacles will appear in on Snapchat as a “circular video format” which anyone can watch no matter the device or orientation their phone is in.

Spectacles will be available in limited quantities and will cost $130, the company said.

Here’s a video on the release: