The hoverboard has long been an elusive fantasy and an icon of futurism in the '80s and '90s. And it may soon become reality, now that Lexus has invested in its development.

The company has released a video of its new hoverboard prototype, called Slide, one of several new projects in Lexus's “Amazing in Motion” series. The board relies on magnetic levitation, using a combination of liquid nitrogen–cooled semiconductors and magnets to create frictionless movement.

They say testing will begin soon in Barcelona, but not when the board may be released to the public.

But for all of you tech enthusiasts, there is also the Hendo Hoverboard, created by the Arx Pax company, which went on pre-sale last year for a whopping $10,000 a piece. 

So, will we be flying on air by 2020? It's hard to say, but we know it would spark a run on Marty McFly costumes. 

[h/t: BusinessInsider.com]