Sony has announced that its virtual reality headset, PlayStation VR, will launch in   October for $549.95.
The announcement was made at the Game Developers Conference in San Francisco, two years after the headset was first revealed at the same event in 2014.
PSVR differs from other headsets on the market in that it is powered by a PlayStation 4 console rather than a smartphone or high-end PC. This makes it lighter and cheaper than headsets like Facebook's Oculus Rift, and more powerful and versatile than Samsung's Gear VR. 
The PSVR connects to a PS4 with a long USB cable, and a separate processing unit sits between the PS4 and the TV to help process the 3D audio and to power a feature called 'Social Screen'.
Social Screen allows the TV and PSVR to show two perspectives on the same game at all times. When the PSVR player is playing alone the TV will show a flat 2D version of what she's seeing. In multiplayer games the PSVR player and those using the TV could see two entirely different perspectives to play with or against each other.
The processing unit also powers something called 'Cinematic mode', which lets you see any PlayStation 4 content you'd usually see through your TV on a giant virtual screen in VR.
Some 360 degree videos can also be viewed on PSVR if you load them onto your PS4.
The $549.95 price includes the headset, earphones and everything you need to get virtual reality experiences from your PlayStation 4 - except for the $90 PlayStation Camera (which is required for tracking).
It also does not include the motion-sensing Move controller, which many PSVR games will support, although the standard DualShock 4 controller can be used in its place.
The PS Camera has been hard to find at retailers since the console's launch, as droves of players snapped them up as an easy way to record or broadcast themselves over the PlayStation Network, YouTube and Twitch. PlayStation Australia's Michael Ephraim assured Fairfax Media there would be plenty on the shelves come   November.
"There will be enough cameras for every PlayStation VR set," he said, stressing that while the camera is necessary for PSVR, the Move controller is not.
"The Move controller might enhance your experience in certain circumstances [...] but the DualShock 4 will be fine for most games," he said.
This means the minimum you'll pay for PSVR if you don't already have a camera will likely be around $640, which is pricey for a game console peripheral (and indeed the PlayStation 4 itself retails for less, which could be why the camera is being left separate). 
But if you're just looking for a good quality VR headset for games and media, the PSVR is practically a steal.
Both the Oculus Rift and HTC's Vive will set you back around $1100 - and that's after you've built or purchased a PC rig powerful enough to run the headset (another $1000 at least).
On the other hand, the games available on PSVR will be much more tightly curated than on the Wild West of PC.
Mr Ephraim said that while the nature of VR meant the PSVR games would offer something very different than traditional TV games, they'd run the gamut from small experimental games to big-budget blockbusters.
"The games for PlayStation VR will be every bit as diverse as the games for PlayStation 4," Mr Ephraim said.
"There are more than 160 titles currently under development, and 50 expected to launch by the end of 2015."
The Playroom VR, a collection of small games designed to introduce players to the idea of playing in virtual reality, will be offered as a free download at launch.
PSVR KEY SPECS:
     610 grams (excluding cable)   5.7-inch OLED screen at 1920 x 1080   Display has 120Hz and 90Hz refresh rate modes   Field of view is approximately 100 degrees   Three-axis gyroscope, three-axis accelerometer for motion sensing    
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