Meet Vectr, a new 3D controller inspired by the theremin. Inventor Matt Heins of HackMe is hoping to raise $10,000 USD on KickStarter.com to get Vectr off the ground.
Vectr uses an array of sensors to detect hand position and motion in 3D space. This means you can control 3 parameters at once and feed that control signal into a synthesizer. It also has the ability to sense various gestures such as swipes and circular hand motions. LEDs provide visual feedback to see how Vectr is sensing your hand (and the look cool too).
Piling on the feature list, Vectr also includes a unique looping feature that can record and playback up to 30 seconds of gestural input.
Given the limited sensing range of 5-6 inches, I'm not sure this would be very useful as a musical instrument, but it could be interesting as a controller input to other instruments.
Additional modules are planned for future development, including MIDI over USB.
Read more: Vectr - 3d Sensing Gesture Controller (KickStarter.com)