LED Pico projectors are extremely affordable, usually ranging between $40 - 60.
They typically are functional with CRACKSHOT. One of the challenges with the pico projectors is that they typically are not the same aspect ratio of most phones (many are 4:3 aspect ratio, while most phones are 16:9). CRACKSHOT attempts to account for this but sometimes this can mean tweaking the calibration.
The biggest advantage of this type of projector is its affordability and its portability. They are extremely light weight and can be easily transported anywhere, unlike more expensive large home entertainment projectors.
The biggest drawback of these projectors is they are typically a fixed size (meaning they need to be a fixed length from the wall typically and usually can only be blown up to around 60") and they aren't very sharp resolution.