Virtual Reality

Virtual Reality – Is it the Future?

As technological advances are made every year the access to virtual and augmented reality (VR) is increasing, as is its quality, features, and potential. The concept for VR was invented in 1957 by Morton Heilig. Morton was a cinematographer whose work pioneered the advancement in virtual reality technology. Working with his unknown partner he created the Sensorama which provided the experience of riding a motorcycle through the streets of New York. It was a gaming device that allowed the player to feel the wind, the vibration of the engine, a 3D perspective and scents of the city. It wasn’t until 1987 when scientist Jarod Lanier coined the term “virtual reality”.

Today VR is a huge part of the way we experience the online world. Consider video games, methods of communication, and social media. Using modern technology we see 3D and interactive photos of sites like Instagram and Facebook. It has also been utilized to train employees, hold work meetings, and classes amidst the quarantine.  Facebook has developed and released an Oculus device specifically for business and commercial use. According to CNBC, “virtual reality used within businesses is forecasted to grow from $829 million in 2018 to $4.26 billion in 2023, according to ARtillery Intelligence.”

Virtual reality is also a huge player in the world of gaming, and virtual gaming has changed the way eSports is experienced and how the bookies create the betting lines. In nature, VR is a simulated experience that is similar to that of reality. There is an entire genre of virtual reality in the gaming industry, and it will only expand inaccessibility and breadth of experience as time moves forward. The Oculus Rift is the number one developer for VR tech and games and are continually paving the path for other companies to participate in the business. Current generation gaming has already integrated VR into their experiences. This includes but is not limited to: PlayStation, Xbox, HTC and Windows Mixed Reality.

Let’s talk for a moment about E-Sports and virtual reality. We can say that both are the perfect marriage because they complement each other. Currently E-Sports have had an impressive growth and we can see a new trend in sports betting where Sportsbooks offer different odds, like the one above:

Odds Provided by: sportsbookreview.com

As we mentioned earlier, VR can and is definitely used for business purposes. That being said, the area with the greatest potential for growth and creativity is in the application for video games. With the ability to connect people from all over the world, and draw in social experiences the players have the power to market and innovate in third party modifications that will lend themselves to future innovations and breakthroughs in the world of virtual reality.

There have been many iterations and prototypes of VR products, from treadmill like devices to basically a pair of goggles. What has proved to be the most effective and practical, are headsets. This is because the size of headsets allow it to decrease its cost and increase its usability. Along its development there have been large computers and chairs used to create simulated experiences for users. These proved somewhat successful, but the price to create these devices was immense and does not allow many people access.

Previously, we talked about the Oculus Rift and their impact on the world of modern VR technology. It was launched on Kickstarter by Luckey in 2012, which raised over $2 million. Two years later in 2014, Facebook purchased the Oculus Rift and its VR company for $2 billion. This is a milestone in the timeline of virtual reality, because starting then there was a major player in the game. This brought about competition from Sony and Google, not to mention Samsung and HTC. Historically we know that competition lowers prices for users and heightens the quality of the products. This means that more and more people will be able to use VR technology. All in all, VR is some of the most incredible technology available to humanity. It’s still in its infancy and where it will take us is anyone’s guess, but the possibilities are endless. The main issues the world is facing in terms of virtual reality development are concerned with hardware and software. The price of hardware is still significantly high and finding a way to reduce that organically will be difficult. In addition, the limitations of current software do not allow users to

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Christophe Rude

Christophe Rude

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