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That is pretty amazing. I watched the Ball-Bearing one after that and it explains the process a bit better.
It's basically just using a bonding agent instead of ink to draw the object, then it brushes a thin layer of powder on top, then another layer of bonding agent, etc... after enough passes, it dries and solidifies into the object.
I think it's also cool that the powder is re-usable so there really isn't any waste.