Oculus Invests $500 million in VR to Accelerate Industry Development

Oculus is ready to spend over half a billion dollars to support developers of VR applications.

“We don’t want the development of the industry to be delayed for decades. The fastest way to make VR massive is to direct resources to creating high—quality content for virtual reality devices,” commented Jason Rubin, Vice president of Oculus Content Division.

Rubin clarified that Oculus does not claim the intellectual property of developers, does not require their projects to be released exclusively on the investor’s hardware platform and, in general, the company does not consider itself as a publisher.

Competitors have criticized Oculus for funding exclusives for the Oculus Rift. Vice President of HTC Joel Breton called this practice “problematic for achieving long-term success,” and Valve CEO Gabe Newell said that VR exclusives are “bad for everyone in the long, medium and short term.”

Facebook CEO Mark Zuckerberg has already announced in October last year that he invested $250 million in VR development and intends to invest the same amount. Oculus has been owned by Facebook since March 2014.

Source: Gamasutra