Oculus Rift: A Revolution in Virtual Reality
A new front-runner has emerged in IPO New technologies; Wall-Street.com spotlights this new exciting technology from MIT Technology Review.
Virtual Reality: The Next Frontier
Virtual reality technology has revolutionized, challenging everything humanity knows about virtual worlds. Imagine being able to find yourself in a beautiful and magical land simply by putting on a pair of goggles. This may sound far-fetched or like something in a Sci-Fi movie, but it is months away from being a reality.
Though virtual reality goggles were invented almost three decades ago, they did not take off because of exorbitant prices and poor technology. The first virtual reality goggles from thirty years ago cost $100,000 for a single pair! Furthermore, players of another virtual reality game in the 1990’s complained of nausea and disorientation while playing.
Now things have changed. Oculus VR is introducing the Oculus Rift in 2014, an affordable virtual reality headset that utilizes smartphone technology for an incredibly clear and realistic experience. As players lean in to look at a flower, the simulation follows their movement in real time.
Palmer Luckey, the 21 year-old founder of Oculus VR, has dreamed of virtual worlds since his video games day as a child. From a young age he worked towards his dream; he designed a working prototype that would evolve into Oculus Rift at the age of 16.
At the moment, Oculus Rift cost around $300, which makes it affordable for the general gaming public.
Not Just for Gamers
Although currently aimed at video games, virtual reality could have many uses in other fields such as phobia therapy, emergency response training, and architecture.
Oculus Rift has already gained $91 billion in funding and much media attention. Facebook recently bought the company for the large sum of $2 billion. Therefore, it may seem as if there are no IPO investment opportunities.
However, Oculus Rift has inspired many other companies to start their own virtual reality development. Large companies such as Sony and smaller, more specialized video game companies need investors to take on this challenge.
This revolution in virtual reality is by no means the only exciting development in IPO new technologies. There are hundreds more articles about possible investment opportunities here at Wall-Street.com, each one archived and easily accessible through the search bar in the upper right hand corner of the site.
Sources: Tech Review