2D cut out in 3D space


Hello, im trying to recreate this:


Anyone know what technique is used, or to point me on some tutorials for this?

I tried using img+alpha on plain in c4d but for some reason i cant match it so perfectly like in video above, i cant even put it close to it :confused:

Anyone can explain this, or point me to some tutorial or read about how its done similer as in video.