Virtual Reality (VR)

VR is a computer-simulated environment created in virtual 3D. In most cases, a VR set will be required to view and interact in such an environment. Today most people use VR for gaming via hard sets such as Oculus Quest 2. However, we are starting to see more and more VR applications being used for social

interactions in the metaverse (this will be discussed in more detail later). As hardware and computer designs advance, the VR experience has become more expansive and immersive.

Important VR Statistics

• There are 171 million VR users worldwide

• 78% of Americans are familiar with VR technology

• Global VR gaming revenue will reach $24 billion in 2024.

• China is the largest VR spender at over $5 billion

• 28% of VR owners use their set daily