The virtual world is becoming a reality, with VR-enabled products hitting stores in the US and around the world in the coming months.
Virtual reality has been touted as a way to escape reality and find new ways to connect with others, but there is a price tag attached.
With consumers increasingly buying products online and for less than $10 a pop, the potential to make a huge profit is very real.
As virtual reality becomes more mainstream, companies are looking to tap into this opportunity to create a revenue stream for their virtual products.
“It’s a very big business,” says Brian Wiese, senior director of business development at the VR company VRWorks.
“And it’s a huge opportunity to be able to bring new products to market.
If we can be able do that, it’s just an added revenue stream.”
Wiese and his colleagues at VRWorks believe that the $5 billion to $7 billion in annual sales they see for VR in 2020 will be the first of many.
But while VR is a relatively new technology, it has already captured the imagination of millions.
VRWorks recently unveiled its first-ever virtual reality product: the Virtual Reality Headsets.
The headsets are a virtual reality headset that lets you experience a 360-degree 360-video panorama of your living room.
While these headsets are not yet ready for sale, they are a step in the right direction, according to Wieses.
VR Works is not alone in its ambition.
Several major VR startups are working on similar products.
One is called Leap Motion, which uses a 3D camera to record 360-degrees and then uses that data to create virtual 3D images.
Leap Motion also developed a 360 video panorama for a game called VRJoint.
Another VR startup, Virtual Reality Labs, is working on an “artificial” 360-screen TV that allows you to interact with virtual objects in the real world, rather than with a computer in a virtual space.
The companies say that by 2020, virtual reality will be worth more than $7 trillion, according the Financial Times.
That’s a lot of money for a product that has not yet even been on the market.
“Virtual reality is going to become the next big thing in consumer electronics, the future of entertainment, and it’s the new norm,” says Wieser.
“If you think about how much more consumers will be able and willing to spend on things like video games, video games will be an increasingly important part of their lives.”
To reach their goal, VRWorks is using VRWorks’ own technology to produce a new, more immersive VR headset.
The company is using the Leap Motion SDK to develop its own virtual reality headsets.
The Leap Motion headset is a 3-D camera that captures 360-dots of the real space, then converts them into 3D models that can be projected into a virtual world.
The Leap Motion headsets are currently being developed for use with the Leapmotion 3D Camera for 360-eye VR headsets.
LeapMotion says the new Leap Motion 3D Cameras will be used in consumer virtual reality devices, such as the Leap-Motion 3D Eye, and in medical applications for use in MRI scanners and MRI machines.
The cameras are expected to be released in 2020, and then used by other VR headsets, such the Oculus Rift.
While the Leap motion camera is being developed as a 3d camera, it also has other uses, such being used in real-time to help surgeons and doctors diagnose brain injuries.
“This is an important milestone for Leap Motion because it is a device that can record 360 degrees of the eye and also be used for virtual reality in real time,” says Leap Motion CEO Chris Hodge.
“The Leap motion is a real-world, 3D video camera, and we’re using it to record a 360 panorama in realtime, and when you look at the video, it will show the depth of your vision in 360 degrees.”
“We are in the midst of a revolution in VR,” says Vive CEO John Carmack.
“We have seen VR technology reach into so many areas, from augmented reality and virtual reality to 3D movies, virtual environments and much more.
But we’re just scratching the surface.”
The Leap-motion 3d Camera is already being used to record virtual reality scenes, such a panorama that shows the virtual world as it is at the end of the day.
In one demo, an elderly woman is sitting on a couch, and her glasses are turned up to a 360 degree angle.
A VR viewer then takes the viewer’s head and puts it in front of the viewer.
The VR viewer has a VR camera on her face, which captures 360 degrees, so the viewer can see the real-life world from her point of view.
The VR viewer is able to view the virtual reality world from a very different angle, as well.
This is a technique known as