Usually associated with video games, FPV or first-person view is a perspective through the eyes of the in-game character; as opposed to third-person, which is an over-the-shoulder view. Playing in first-person view can provide for a more immersive gameplay experience. The image below shows the difference between the two viewpoints.
As seen in the picture, first-person view gives you the feeling of being the character in the game and third-person view gives you an overhead view of the environment around the character.
Tip: Many video games offer both third and first-person views, selectable in an options menu or by scrolling up and down on the mouse wheel.
Note: FPV may also be used in the real world. For example, you may have a drone with a camera and use a VR headset to get a first person view as you fly the drone.