The Business of Virtual Reality
The history of virtual reality (VR) dates back to the 1960s when Ivan Sutherland developed the first head-mounted display (HMD) system called The Sword of Damocles. The device was so heavy that it had to be suspended from the ceiling. It provided users with a wireframe cube room that they could move around in. Although this device could not render images, it was a breakthrough in VR technology.
In the 1980s, Jaron Lanier founded VPL Research, which developed the first commercial VR products. These products were primarily used in the gaming industry. In 1991, the first VR arcade game was released, called Virtuality. It was a first-person shooter game that allowed players to move around in a virtual world using HMDs and data gloves.
The 1990s saw a decline in VR technology due to the high cost of development and lack of interest from consumers. However, in the early 2000s, the military began using VR technology for training simulations, which led to improvements in the technology.
The modern VR industry began in 2010, when Palmer Luckey developed the Oculus Rift, a VR headset that is still widely used today. The release of the Oculus Rift sparked a new era of VR development, with many other companies developing their own VR headsets and software. Today, VR technology is used in various industries, from gaming to healthcare and education.
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