The Oculus Rift is an upcoming high field of view (FOV), low-latency, consumer-priced virtual reality (VR) head-mounted display (HMD). It is being developed by Oculus VR, who have raised $2.4 million from a Kickstarter campaign. [4] The dev/consumer forums can be found at: Oculus Rift Consumer & Developer Forum
- The company was founded by Palmer Luckey and the co-founders of Scaleform.[5] The Oculus Rift has been endorsed by John Carmack, Gabe Newell, Cliff Bleszinski, Michael Abrash, Tim Sweeney, Chris Roberts, David Helgason, and others.
I'm pretty sure I heard that it ended up as a failure.
I'm sure it will take plenty more development but thats the most functional I've seen soemthing like this, and as long as funding holds up, they will be able to further develop and improve it.