Reading is inherently time consuming because your eyes have to move from word to word and line to line. Traditional reading also consumes huge amounts of physical space on a page or screen, which limits reading effectiveness on small displays. Scrolling, pinching, and resizing a reading area doesn’t fix the problem and only frustrates people. Now, with compact text streaming from Spritz, content can be streamed one word at a time, without forcing your eyes to spend time moving around the page. Spritz makes streaming your content easy and more comfortable, especially on small displays. Our “Redicle” technology enhances readability even more by using horizontal lines and hash marks to direct your eyes to the red letter in each word, so you can focus on the content that interests you. Best of all, Spritz’s patent-pending technology can integrate into photos, maps, videos, and websites to promote more effective communication.
You can just throw up whatever imagery you want, then have that at the bottom/top of the screen. It can pretty much just replace the old, tired text box system. Granted, this doesn't really make sense for dialog accompanied by voiceovers, but I just remember reading walls of unvoiced text in the Ace Attorney and Zero Escape series. I could've gone through those games much faster if they used this system.
Edit: An open-source implementation is available on Github, and a Chrome extension is also available.