Video provides a comprehensive visual record of environment activity over time. Thus, video data is an attractive source of information for the creation of virtual worlds which require some real-world fidelity. This paper describes the use of multiple streams of video data for the creation of immersive virtual environments. We outline our multiple perspective interactive video (MPI-Video) architecture which provides the infrastructure for the processing and analysis of multiple streams of video data. Our MPI-Video system performs automated analysis of the raw video and constructs a model of the environment and object activity within this environment. This model provides a comprehensive representation of the world monitored by the cameras which, in turn, can be used in the construction of a virtual world. In addition, using the information produced and maintained by the MPI-Video system; our immersive video system generates virtual video sequences. These are sequences of the dynamic environment from an arbitrary view point generated using the real camera data. Such sequences allow a user to navigate through the environment and provide a sense of immersion in the scene. We discuss results from our MPI-Video prototype, outline algorithms for the construction of virtual views and provide examples of a variety of such immersive video sequences.