Pretty impressive results. Ray tracing takes a lot of power and to be able to do it in real time like that would make it possible to do crazy effects and stuff in games with the power that was set aside to do shadows, reflections and everything else.
This looks similar to what we saw in that preview vid for the next stalker game by changing lighting conditions in real time. (Shadows moved, etc) I'm having trouble imagining how it will benefit the experience for the end user, but it should cut down the coding needed to fake those affects and put programers into making more content I guess?
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