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Oculus takes virtual reality developer funding up to $500 million as it searches for the killer app

Oculus takes virtual reality developer funding up to $500 million as it searches for the killer app

Oculus will invest a further $250 million in developers to create games and apps for virtual reality.

The move was announced by Mark Zuckerberg during the Oculus Connect 3 conference.

It brings Oculus’ investment in virtual reality developers up to $500 million, having already invested $250 million in VR content.

That's a quarter of the $2 billion Facebook spent to acquire Oculus in 2014.

Finding VR's killer app

The large investment fund is part of Oculus and Facebook’s drive to ensure a plethora of apps and games for the Oculus marketplace.

Despite a number of apps and games available at launch, VR still lacks the ‘killer app’ to help further drive sales.

During the Oculus Connect 3 keynote, Mark Zuckerberg showcased his social ambitions for the tech which could entice the masses to adopt VR.

He appeared in a virtual world with two other people, and each were able to interact with each other through facial expressions, hand gestures and voice.

The trio visited various locations such as under the sea, on Mars and even Facebook’s offices – complete with moving footage around them.

Zuckerberg’s vision for social seems to be what he feels will be the key driver for VR sales, perhaps moreso than just ‘core’ gaming experiences.


Senior Editor

Craig Chapple is Senior Editor of PocketGamer.biz and InfluencerUpdate.biz. He was previously Deputy Editor at Develop and Online Editor at Nintendo of Europe.

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