The second bionic eye implant, the Bio-Retina developed by Nano Retina, is a whole lot more exciting. The Bio-Retina costs less — around the $60,000 mark — and instead of an external camera, the vision-restoring sensor is actually placed inside the eye, on top of the retina. The operation only takes 30 minutes and can be performed under local anesthetic.
Basically, with macular degeneration and diabetic retinopathy, the light-sensitive rods and cones in your retina stop working. The Bio-Retina plops a 24×24-resolution (576-pixel!) sensor right on top of your damaged retina, and 576 electrodes on the back of the sensor implant themselves into the optic nerve. An embedded image processor converts the data from each of the pixels into electrical pulses that are coded in such a way that the brain can perceive different levels of grayscale.