Usually you can use your webcam only for one single application (like Yahoo Messenger, Skype etc.). This software allows you to use your webcam in multiple applications in the same time.
Also, you can play a video from your computer, an image from your hard drive or dekstop image.
You can customize how your webcamm appears with different effects (add filters, avatars, backgrounds, objects, your costom text and more).
You can change the resolution to a higher one.
Take snaphots from your webcam automatically or when you want.