Kiwis at the forefront of multi-billion dollar virtual reality revolution

Watching someone absorbed in a virtual reality (VR) headset is always amusing. In their mind, they're battling space aliens, or teetering along a plank between two skyscrapers. In reality, they're just flailing around an empty room.

The inherent goofiness makes it easy to write off VR as  a gimmick. But those that are paying attention to the burgeoning industry know not to be so dismissive.

Pioneers and enthusiasts descended upon Auckland for the inaugural Magnify conference on Thursday and Friday. The buzz was such that most tickets were snapped up even before the speakers were announced. Founder Matt Coleman put the event together in just six weeks, and had no trouble finding sponsors.

"We only planned this for about 100 people a day, and we've got over 1000."

READ MORE:
* Weta Workshop partners with Google-backed Magic Leap
* Kiwi house hunters may soon swap open homes for virtual reality
* Virtual reality sex is coming soon to a headset near you
* Review: Oculus Rift virtual reality headset

Coleman says the industry is so new that participants are happy to share, with competitors speaking on the same panels. Plenty of those who aren't directly involved with VR came along too, if only to see what all the fuss is about.

"They're really curious to see how this will affect their particular industry."

Lots of startups were in attendance, as were investors, including some of New Zealand's wealthiest individuals.

"They're really trying to work out what sectors are best, moneywise."

The opportunities are huge, and it's not all about the novelty of playing a round of golf on Mars. Besides movies, pornography and gaming, VR is expected to have major applications in education, healthcare, and news media. Police are interested, as is the defence force. Goldman Sachs forecasts the hardware and software market could be worth as much as US$182 billion (NZ$269 billion) by 2025.

from
http://www.stuff.co.nz/business/better-business/80171398/Kiwis-at-the-forefront-of-multi-billion-dollar-virtual-reality-revolution