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[Others]On pitfalls in VR venturing

More Posted time:Mar 3, 2017 13:28 PM
54 years has passed since the birth of Sensorama, the first virtual reality (VR) device, in 1962. Alibaba's investment in Magic Leap at the beginning of 2016, amounting to nearly 800 million US dollars, pulled back the curtain on China's “wave of VR start-ups”. The year 2016 is also hailed as the Year One of China VR during which period start-ups emerged in large numbers, with some strong performers who have been on the path to leading worldwide VR development.

The footprints of entrepreneurs are all over various fields, including education, medical care, games, motion tracking, and tactile feedback. Some companies have combined VR with brainwave reading technology to break through the bottleneck of traditional brainwave technology which achieves interactions by determining the strength of specific brain waves (you don’t need to keep doing addition, subtraction, multiplication and division in your mind to enhance brain waves). With the incorporation of VR technology, the brain waves are read directly to identify the user’s intentions, facial expressions and so on, as a new way of VR interaction. In the next year, the upgraded version of the technology is expected to foster a completely independent accessory blended into the currently popular VR head-mounted displays, and significantly reduce production costs through mass production. A few days ago, Unity released a VR authoring tool that allows developers to directly develop VR products in the VR, greatly increasing the creative control of VR developers. We cooperate with NASA to utilize satellite data and achieve instant 3D reconstruction for any location around the globe using unique algorithms. The technology is applied to the tourism industry to help visitors preview scenery at a destination in advance.

With the broad foray into the VR sector by industry giants, the advent of 5G technology, and more and more high-quality entrepreneurial companies joining the march, the springtime of VR start-ups is around the corner. Prior to this however, the problems faced by entrepreneurship in the VR field cannot be underestimated, such as the underdeveloped hardware infrastructure, the inflated cost of high-end head-mounted displays, and the much-criticized and long-plaguing vertigo problem in low-cost VR head-mounted displays. In addition, there is an acute shortage of VR content which currently has serious homogenization issues. A large number of low-grade or pseudo-VR content companies riddle the market, corrupting the industry reputation.

At this point, we want to know your ideas about the difficulties and problems for VR venturing. What are your opinions on this industry? Let’s discuss with, inspire and help each other here to contribute your share for promoting human progress.