This is being screened at the Toronto International Film Festival this week (what TIFF stands for), its an action movie set in first person mode the entire time. The name of the movie is Hardcore.

You may remember this youtube video that went viral last year, the movie is by the same guys

While I love action movies this looks way too stupid, like a Crank movie directed by Uwe Bolle. Maybe with an Oculus VR it'll be cool