LG's Magic Motion gesture remote, which lets you change channels with a flick of the wrist, and now Hillcrest Labs, of Loop mouse/bracelet, is proclaiming that its Freespace tech is what makes LG's remote so magical in the first place.
It's also revealed that Sony is planning to implement the technology in its PlayStation Move. However, this move by Sony to license the technology may simply be their way of protecting their property from the legal proceedings that Hillcrest is in with Nintendo right now. Hillcrest has recently filed a patent dispute with Nintendo over their Wii Remote technology. This move by Sony could even be a result of the patent dispute over Sony's DualShock 3 controller.
Reference: Press Release