Virtual reality technologies have been developed over several decades, including advances and contributions by researchers working in academia, aerospace, and the military, all trying to create alternative realities and experiences through digital technology. The potential for economic growth in hardware, software, and content is impressive by 2025, the market for virtual reality content could be $5.4 billion, and virtual reality hardware could be worth $62 billion. While Facebook’s announcement made big news, they are far from the only player in the space, as Google ( Cardboard, Daydream), Samsung ( Gear VR), HTC ( Vive), Sony ( Playstation VR), and others have introduced platforms and hardware for virtual reality. In March of 2014, Facebook’s Mark Zuckerberg announced the acquisition of Oculus, a startup that had launched a crowdfunding campaign for their Rift headset resulting in over $2.5 million raised, noting in a Facebook post “Imagine enjoying a courtside seat at a game, studying in a classroom of students and teachers all over the world, or consulting with a doctor face-to-face-just by putting on goggles in your home.”
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