Yesterday, after almost of year of cruel teasing and prodding, gadget hounds finally got an up-close look at the Sekai Camera, a highly anticipated Augmented Reality application for mobile phones, named iPhone and Android-based phones.

Tech-man-about-town Nobi Hayashi was one of the lucky ones to attend the event at Loewe, a Spanish fashion ship in Tokyo's Ginza. As his video shows, Sekai Camera users view their surroundings through the iPhone screen, which displays "Air Tags" floating in an overlay of reality. Tapping a tag brings up relevant info about the onscreen object.  At Loewe, visitors were able to learn more about high-end products (and we can imagine, some folks might need a lot of persuading.)