Agora's guide outlines the process of setting up real-time engagement experiences using Agora Engine and Magic Leap 2, allowing for video chat and live video streaming. It begins with setting up the development environment by downloading ML Hub and installing necessary SDKs for Unity, as well as configuring Unity Editor with Android Build Support. Developers need to follow Magic Leap's official guide to set up a Unity project and enable specific options for using the Agora SDK, such as Magic Leap in XR Plug-in Management and permissions for camera and audio recording. The Agora Engine package must be downloaded and added to the Unity project, and developers are advised to test the setup using the AgoraMLDemo scene by inputting their Agora project's APP_ID and CHANNEL_NAME. Once the demo is built and run, both ML2 and Web users should be able to see each other's camera streams and initiate voice conversations, ensuring the setup is correctly implemented.