The effect you're seeing here, applied as a form of "electronic make-up", is the result of CG and projection tech being screened and updated - in real-time - onto a model's face.
Sure, you can see parts where it can't quite keep up with the model's movements, but as a start, it's some incredible stuff. Imagine what'll be capable when we progress from "limited art project" into "ready for TV/stage".
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The project, which involved a number of experts in CG, design and make-up, was led by Nobumichi Asai.