Impossible Project has been doing the seemingly impossible—keeping old Polaroid cameras supplied with new instant film—since 2010. But in order to use the company's reformulated instant film you had to find a working Polaroid 600 or SX70 series camera. Quality varies greatly among vintage models—you can score a cheap 600 for $50 or so on eBay, but getting a clean pro-grade SX70 can put more of a dent in your wallet, to the tune of a few hundred dollars.

So it's only logical that Impossible would develop its own hardware to go along with its various film offerings. The I-1, announced in April and going on sale today, isn't the only new instant camera on the market— Fujifilm and Lomography offer models that use Fuji's Instax format—but it's the first to support the classic Polaroid format in years.

The I-1 also does things that the Fujifilm Instax Wide 300 and Lomography Lomo'Instant Wide cannot. It has built-in Bluetooth, which works in conjunction with a smartphone app to dial in manual shutter and aperture control. Of course, it will work in automatic mode without the app.

That's a big plus for demanding photographers, as older Polaroid models can be quite inconsistent when it comes to exposure. It also gives you the tools to capture double exposure images in camera, and keep the shutter open for long exposure photography including light painting. The app also includes a noise trigger, which can be used to capture a balloon popping or simply fire a shot as you clap your hands. According to Impossible CEO Oskar Smolokowski, the platform will eventually be opened up to developers.

Smolokowski was also quick to point out some of the other unique features of the camera. A LED flash, made up of eight lights, surrounds the lens. A ringlight like this is a great tool for portraiture, and using LED lighting allows for precise control of light output based on the distance between subject and lens. The lights will also show how many shots are left in a film pack (Impossible packs include eight shots) and the I-1's battery life.

Unlike older Polaroid cameras, which rely on a battery inside the disposable film pack for power, the I-1 has an internal rechargeable battery. Not needing to put a battery in each film pack reduces the cost from $23.49 to $19.99. That's not an insignificant number for photographers, though Smolokowski doesn't see Impossible shooters as volume users. Impossible sold about 1 million film packs in 2015, so moving photographers to a camera with an internal battery can help cut down on waste.

He says that he'll be happy if owners shoot a few packs a year. With only eight images available before changing film, Smolokowski says that instant photography is about capturing very special moments. He doesn't expect Impossible devotees to use instant film for those everyday shots that are typically captured with a smartphone or digital camera.

The I-1 also has an advantage over many older Polaroid models when it comes to size. It's smaller than a typical 600 series. Smolokowski likens it to an SX70 that is open and ready to shoot, which will make it more useable for travel. The lens is also wider than those found in older Polaroid models—its angle of view is 41 degrees in horizontal and vertical directions, akin to a 28mm prime on a full-frame camera. It needs to project a large image circle, so its maximum aperture is a modest f/8, and its aperture can narrow to as small as f/64.

A number of accessories will be offered for the I-1. It includes a flip-up mechanical viewfinder, but that can be removed and other accessories can be put in its place. A more powerful flash is one of the planned accessories, but there are no other details available at this time. A carrying case accessory is available at launch.

The I-1 goes on sale today, but can only be purchased directly from Impossible or at the MoMa Design Store in New York for $300. Depending on your perspective that may be a lot or a little to pay for an instant camera, but Smolokowski is quick to point out that it's not that far off from the price a working SX70 commands on the secondary market.