QuickTime is an Apple invention that enables you to view multimedia/movies on the web. Apple has been working hard on their QuickTime player over the years and its functionality has improved rapidly.
QuickTime movies (.mov) have long been a popular choice for displaying videos such as commercials, movie trailers, and music clips. I'm sure that once bandwidth improves throughout the web, multimedia files such as QuickTime will be even more popular.
Example of Cubic VR (360° Navigation)
Paris Hotel, Las Vegas