The Rise and Fall of VR Hype: 10 Years After Facebook's Oculus Acquisition

The gaming industry's past can provide valuable lessons for its future, and one notable event from 10 years ago was Facebook's acquisition of Oculus, a company that played a significant role in popularizing virtual reality. At the time, the deal seemed like a major vote of confidence in the technology, but a decade later, the VR industry remains in a state of uncertainty. Despite significant investments from companies like Meta, Sony, and Apple, VR has yet to achieve mainstream success. The industry has made progress in addressing technical hurdles, but the lack of a killer app and high prices have limited adoption. Meanwhile, key figures like Palmer Luckey and Markus 'Notch' Persson, who were once seen as champions of the technology, have seen their reputations tarnished by controversies. As the industry looks to the future, it must confront the challenges that have held VR back and find a way to fulfill its promise.