So far, the two most exciting camera announcements of 2016 are the 360-degree cameras from Samsung and Nikon. Nikon first inspired us with its announcement at CES in early January, showing off the weirdly-named yet tempting KeyMission 360. Samsung just announced the Samsung Gear 360 yesterday at Mobile World Congress in Barcelona, with the help of Mark Zuckerberg on stage. Clearly, camera makers have invested much in the belief that 360° video is soon going to play a larger role in our lives.

Cameras that record 360° are not brand new, and tons of options already exist, like the leading Ricoh Theta S. However, the quality of even the Ricoh is pretty low. You can duct tape together (or buy a rig to mount) six GoPros and stitch the footage all together, but then you’ll be bald after you tear all your hair out while stitching that together on the computer 🙁

You could also rob a bank to afford the Nokia OZO. It’s only $60,000.

So, that leaves us with the Nikon KeyMission 360 and the Samsung Gear 360. What’s the catch? Neither have a release date or price. However, I’m expecting to see them in the $500 range and the companies have said they will come out soon. Samsung says the Gear 360 should come out in the second quarter of 2016 and Nikon says “this spring,” so I’m guessing they’ll be competing fiercely for our $$ and that might mean lower prices.

What are the pros and cons of each? Well, it’s unclear whether the Samsung Gear 360 will be usable with mobile devices not made by Samsung. The camera comes with an app that allows for extended controls when using a Samsung device, but there’s no mention of iOS or other Android devices. It does appear that you can still use the basic functions of the Gear 360 without any mobile device, and then transfer your footage via USB to a computer for sharing.

The pros of the Samsung Gear 360? MicroSD media storage, smaller than a baseball, and 3840×1920 HD footage.

The pros of the Nikon KeyMission 360? It’s a true “action camera,” in every sense of the phrase. It’s built to go underwater to 30m and it’s dust, shock, and cold weather proof. The best feature: UHD 4K video footage. Cons: We’ll see once we get our hands on it. Right now, the Nikon KeyMission 360 is the leader of the pack in the realm of prosumer 360° cameras.