Snap Inc. Chief Executive Officer Evan Spiegel unveiled a new version of the company’s Spectacles smart glasses, revitalizing an effort to build an advanced augmented reality product that may one day replace or rival the smartphone.

Snap’s new Spectacles are the next big thing — in the most literal way possible. The augmented reality glasses are extremely physically large. The social media firm sees the footprint as a kind of middle ground between a full extended reality headset and far more portable smart glasses.