UPDATE 3/5 5:24 p.m.: Funny or Die confirmed that the HUVr board hype was, indeed, a hoax. In a video clip on the site, Christopher Lloyd jokingly claims that he, too, was hoodwinked, flimflammed and horn-swallowed into thinking that the anti-gravity gear was real. He did, however, get all the famous faces in the videos to sign the bright pink board. Users can like the Funny or Die Facebook page for a chance to win the autographed board.

Imagine that while you’re waiting impatiently at the crosswalk of State and Congress Streets, overheated from the tepid recycled air of the Red Line, a besuited bloke streams past in the traffic lane on what appears to be a plank of plastic floating inches above the ground.

The Web was buzzing that the aforementioned scenario might become reality thanks to HUVr, a mysterious band of engineering graduate students from MIT.

But it won’t be.

Comedy site Funny or Die cooked up the fake company – complete with a fake crew of local students – for this viral hoax.

Basically, HUVr’s “tech” is a Back to the Future-inspired, skateboard-esque tech that magically hovers in thin air due to a mean mix of magnetism, materials science and electricity. The company claims that their anti-gravity board is “one of the most exciting independent products to be developed out of MIT since the high-powered lithium-ion batteries developed by Yet-Ming Chiang in 2001.”

It’s easy to be fooled. The website claims that HUVr began as a 2010 MIT Physics Graduate Program project, and that the team “ultimately aims to improve the efficiency, speed and sustainability of mass transportation.” Continues the site:

Yet rather than spend several more years closed off from the world while investing in research and development, the team and our world-class investors have worked to change the economics R&D by marketing this exciting consumer product in order to fund ongoing R&D.

The site also features a number of highly dramatized – and now that the reports are out, hilarious – videos featuring many a celebrity, including the likes of Christopher Lloyd, the actor who placed Doc Brown in the Back to the Future franchise, NFL player Terrell Owens, professional skateboarder Tony Hawk and singer Moby (see above).

HUVr’s story seemed legitimate enough, right? Because only this sort of earth-shaking innovation could be born from the busy brains at MIT.

Image via RealmCast