For the second time this year, Facebook is hoping to jumpstart sales of its Oculus Rift VR headset with a price reduction. Facebook’s Oculus VR unit will offer the Rift, Oculus Touch motion controllers, seven VR games and more as a $399 bundle over the next six weeks. The bundle was earlier offered for $598, which was $200 less than the combined launch prices. According to Jason Rubin, head of content at Oculus, the new bundle price is meant to leverage the increased number of apps and games available for the Rift (700+ today, compared to 400 in March). Continue reading Facebook Offers New Price Reduction for Oculus Rift Bundle

CrossVR’s campaign on crowdfunding site Patreon intends to raise money to fund the ongoing development of Revive, a so-called hack that allows HTC Vive users to play content that is exclusive to Oculus and not released on Steam. Now, Oculus Rift inventor and co-founder of Oculus VR Palmer Luckey reportedly pledged $2,000 per month to support the CrossVR effort. Luckey left Facebook (which acquired Oculus) in March, the aftermath of a legal battle over the VR technology. The PR team for Oculus has already stated that it doesn’t condone Revive. Continue reading Palmer Luckey Backs VR Tool to Run Oculus Games on Vive

In its Q4 earnings report, Facebook revealed that sales rose 51 percent to $8.81 billion, above the $8.51 billion average analyst prediction. The bump in revenue is largely attributed to advertising on mobile phones. Also, within the space of a year, monthly active Facebook users increased 17 percent to 1.86 billion people, with 1.23 billion checking daily and 1.74 billion accessing the social network via their smartphones. Facebook has now cemented its No. 2 position in the mobile advertising market behind Google. The company is also making a major move into video content. Continue reading Facebook Eyes Success with Mobile Ads and Focus on Video

Facebook lost its intellectual property lawsuit with video game publisher ZeniMax Media yesterday and was ordered to pay $500 million in damages. ZeniMax had contended that a former employee helped develop the Oculus Rift VR headset with knowledge that he gained while working for the game publisher, and that the company had developed a prototype prior to Facebook acquiring Oculus VR for $2 billion. While Oculus was not found guilty of stealing trade secrets, the jury determined the company was guilty of copyright infringement and violating a confidentiality agreement. An appeal is expected. Continue reading Facebook Loses Oculus IP Lawsuit in $500 Million Jury Verdict

Research out of the University of Pennsylvania’s Wharton School, led by Professor Ethan Mollick, revealed that, since its 2009 founding, Kickstarter has been used to raise $5.3 billion, leading to the creation of 8,800 new companies and non-profit organizations and generating 29,600 full-time and 283,000 part-time jobs. The study, funded in part by the Kauffman Foundation, relied on data from Kickstarter and only looked at successfully funded projects. Kickstarter had no involvement in the study. Continue reading Study Examines the Significant Impact of Kickstarter Projects

The 30th edition of the Game Developers Conference (GDC) set a record for event attendance, with more than 27,000 game industry professionals at last week’s conference in San Francisco’s Moscone Center. One of the major draws this year was the debut of the Virtual Reality Developers Conference (VRDC), an event dedicated to the creation of new video games, entertainment and technology around virtual and augmented reality (AR), which was held alongside GDC 2016. VRDC brought greater focus to the nascent field of virtual reality development. Continue reading GDC 2016 Tops Attendance Record, Celebrates Past & Future

Despite a sticker price of $599 for its new Rift VR headset, Oculus VR has already sold out its preorders, resulting in an extension of its shipping date. The headset, over $100 more expensive than originally predicted, also requires the processing power of a PC that costs in the vicinity of $1,000. Starting in February, Oculus will sell a bundled headset/PC for $1,499. The expense of the Rift is justified, say observers, since its quality needs to sell VR to a public that has, in the main, never experienced virtual reality. Continue reading Oculus Aims for High-End Virtual Reality with $600 Headset

Oculus is joining with a number of hardware partners — including Alienware, AMD, Asus, Dell, Intel and Nvidia — to introduce “Oculus Ready” PC systems optimized for the Rift. Starting at price points under $1,000, PCs featuring the certification are expected to hit the market next year and could be a major step toward the consumer adoption of virtual reality. Oculus CEO Brendan Iribe previously hinted that a complete Rift system, including a PC, would run about $1,500. Founder Palmer Luckey recently added that the Rift headset alone will cost more than the $350 developer kit. Continue reading Hardware Partners to Introduce “Oculus Ready” Certified PCs

Oculus chief executive Palmer Luckey and Facebook chief executive Mark Zuckerberg are “ground zero” for the 3D immersive technology, but the big-name fan base is growing, including SpaceX/Tesla chief executive Elon Musk and Facebook board member Mark Andreessen, who not long ago was skeptical about funding a virtual reality company. What they all believe is that VR will be a truly paradigm-shifting technology that will connect everyone in the world, for a growing range of activities from video games to business meetings. Continue reading Tech Leaders Envision a Globally Connected Future with VR

Oculus Story Studio premiered “Henry,” its second virtual reality movie, at an event in Beverly Hills yesterday. The San Francisco-based company is attempting to define the parameters of VR content by making short movies. The studio’s first movie, “Lost,” which was shown at the Sundance Film Festival, focused on immersing the viewer in an environment. “Henry,” however, focuses on creating a character — a hedgehog with a problem — and figuring out how to use that character’s presence in virtual reality. Continue reading VR Storytelling: Oculus Story Studio Debuts Animated Short

Oculus VR announced yesterday that the company plans to ship its Oculus Rift headset by Q1 2016. Pricing and tech details have yet to be released, but consumers will be able to place pre-orders during the 2015 holidays. The virtual reality device, which has only been available for developers thus far, will need to be used with a PC. Both Palmer Luckey, the founder of Oculus, and Facebook, which acquired the company last year, expected to launch the headset earlier. However, the team has faced challenges regarding some of the system’s requirements. Continue reading Oculus Rift VR Headsets Will Begin Shipping Early Next Year

After acquiring virtual reality startup Oculus for $2 billion last year, Facebook will finally release the much anticipated Oculus Rift VR headset. Mike Schroepfer, vice president of engineering for Facebook announced that the company would start shipping the device this year. The consumer release of the Gear VR, also by Oculus, is also scheduled for this fall. Facebook’s next challenge is to make VR more social. It recently introduced 360-degree spherical videos for its social network’s News Feeds. Continue reading Oculus Rift VR Headset Expected to Hit the Market This Year

During a Sunday session at the SIGGRAPH computer graphics conference, panelists discussed virtual reality, its technical hurdles, and the need for compelling content. Palmer Luckey, co-founder of Oculus VR, described the adoption of augmented and virtual reality as inevitable, but suggested we’re not quite there yet. While innovation will likely be led by hardware from multiple manufacturers, he also believes that content and software will drive the industry in the long term. Continue reading SIGGRAPH 2014: Panel Discusses VR Content, Tech Hurdles

Two virtual reality headsets are generating the most attention at the E3 confab in Los Angeles this week — Facebook’s Oculus Rift and Sony’s Project Morpheus. Both are expected to launch commercially during 2015, and may represent a significant business opportunity for producers of immersive entertainment. In addition to the gaming community, Hollywood is expressing strong interest. In fact, many media producers see VR as the next big revolution in entertainment. Continue reading E3 2014: Oculus Rift and Project Morpheus Lead VR Revolution