Crytek and AMD collaborated to create this gem of a tech demo.
This is a leak because it was shown closed doors at GDC, and hence the video quality is low since it’s off screen but the slides show how they’ve created it.
In one of the slides you can see how they created the hair and it’s a bit reminiscent of AMD’s tech as well.
The three things that make the hair looks good are anti-aliasing, volumetric self shadowing, and transparency. All of these are pretty straightforward and no tessellation is required as well.
There are about 50 slides in the pdf Crytek has published on their site, and it mainly shows the “intricate technical and authoring details about AMD’s “Project Phoenix” developed in collaboration with Illfonic and Crytek. This project is a showcase of real-time next-generation graphics running on AMD Graphics Core Next architecture.”
Here are some slides that give an idea of how this demo was made.