The first think you end to know about Virtual Realty, is that it's actually quite an old concept. One of the earliest implementation of VR was actually done by Nintendo back in the early 90's with their console named Virtual Boy. Unfortunately the Virtual boy didn't receive great reviews with many consumers reporting Nausea rather than fun. The failures following Nintendo regarding Virtual Reality, dissuaded many others form even attempting to enter the Virtual Reality spectrum of gaming. That is up until the Oculus Rift.
The Oculus Rift began back in 2012 when Oculus started a Kickstarter campaign that raised over $2.5 million dollars. The overwhelming support for Virtual Reality made it clear the at Virtual Reality was something that the consumer market wanted. After the Oculus Rift came many other imitations of practical Virtual Reality. Microsoft Holonens, Sony Project Morpheus, Valve and HTC's Vive, Smamsung Gear VR, Razer OSVR, are all some of the many Virtual Reality machines out there today.
Virtual Reality can only grow from here. Virtual Reality isn't just for gaming but has also seen implications in many other fields. Medicine for example, has used it to help train and teach future and current doctors. Virtual Reality provides a life-like simulation of what a surgeon or Nurse might experience out on the field. Virtual Reality has also made an experience int eh field of Engineering. Prospective Engineering students can build real-time prototypes and test them out on the spot. Flexibility such as that, can help speed up and even advance future technological advancement.
Virtual Reality is in its primitive state, but once thing is for certain -- it is here to stay.