A cyclorama shot is a 360 degree panoramic, photographic view of a scene. It's set on a cylindrical platform and is designed to make the viewer feel like he is standing in the middle of it all. A cyclorama shot is a really cool thing to embark on in photography or film.
Check out this lighting tutorial to learn how to create the proper light for such a shot. This sort of filming provides great depth and visual interest.
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