No, that's not a handheld matter transmuter, but if that was your guess you wouldn't be far off. In fact, that very mysterious looking box contains what may be the fastest camera on the planet.
The Phantom v1610 has the ability to shoot up to 1 million frames per second, a speed so high that it allows the camera to create videos of real world slow motion events that are so otherworldly they appear dream-like. Additionally, the camera can capture HD footage at 16,000 frames per second and boasts a whopping 96 gigabytes of internal memory. No word on pricing, but you can watch Professor Kazutaka Kitagawa of the Aichi Institute of Technology using the camera to capture the amazing slow motion flight of a Drone Beetle in the video here.