The writing is on the wall thanks to Oculus, virtual reality is a technology that will find some semblance of use in the future. Chances are it'll go far beyond gaming, but even if it's just for ultra-immersive visual experiences, we're going to play with it. Which is why it's not surprising that Microsoft and Sony are both looking to develop their own VR hardware.
Sony was always a likely candidate for VR development, since it's been internally developing 3D movie watching headsets for years now. However, we also got wind recently that it was working on a virtual reality gaming headset in line with the Rift. In-fact, the rumour is that it's even better than Oculus' Crystal Cove headset it showed off at CES this year.
This headset would of course be compatible with the PS4, giving Sony a massive leg up against its main competitors in the home console game.
Microsoft of course would be foolish not to get in on this development too and either allow Oculus to bring its Rift to the Xbox One, or develop its own gear, which seems the most likely at this point.
Some rumours have been circulating over the past 24 hours that Microsoft is indeed developing its own mix of augmented and virtual reality technology. Combining both would give the Microsoft hardware an edge, but it would look very different, since it would require either cameras mounted to the front of the headset, or a translucent display more akin to Google Glass than the Oculus Rift.
It looks like the next great format war may not be physical media, but VR headsets. If given the choice, which company would you guys support?