Virtual reality is a relatively new idea that has just recently been acted upon. The idea is to create a seemingly three-dimensional environment for the user, eventually getting to the point where the user can not distinguish between reality and this electronic illusion. At the moment, commercial creation and distribution of virtual reality devices is at its infancy, but it has laid the seeds of hyper-realistic devices that were once only a dream to a clever mind.
The leading company selling virtual reality gear is Oculus VR. Their key product is the Oculus Rift, which is a hefty $600. This company was started by a man named Palmer Luckey. As a young man, Luckey was interested in the idea of creating a virtual world. In order to gain knowledge and learn from the mistakes of others, Luckey began collecting the virtual reality models of others, taking into account the good and the bad properties of each. In order to fund his ambitious inventions, Luckey began to buy broken electronics and sell them at a higher price. Luckey's business became so successful that he is estimated to have a net worth of 2 billion dollars at the age of 23.More Info
I believe that the Oculus Rift is a great first step towards hyper-realistic virtual reality. However, at a price of $600 dollars for a product that will most likely be outdated in five to ten years, the Oculus Rift is more of an expensive luxury than an efficient virtual reality machine. Besides the current primitiveness in the virtual reality industry, the Oculus Rift has sparked up much competition, which will push entrepreneurs, inventors, and dreamers to create a device that would forever change that way that we view our entertainment.