If there's one major craze in gaming technology right now, it's virtual reality. Stereoscopic 3D headsets have become immensely popular since the Oculus Rift was successfully Kickstarted back in 2012. Thanks to the fact that the headsets are worn and not held, the tech solved the problems caused by 3D televisions' and Nintendo 3DS' narrow viewing angle, which is the most common complaint associated with VR displays.

Sony quickly took notice, and began developing its own VR headset dubbed 'Project Morpheus.' Over the past six months, the headset has been demoed numerous times, most recently at Gamescom back in August. However, during the Tokyo Game Show, President of Sony Worldwide Studios Shuhei Yoshida wasn't satisfied with just another demonstration: Yoshida had a major announcement to make.

According to Yoshida, Project Morpheus is 85 percent complete.

What exactly this means is unknown. It could mean that the software inside the machine isn't quite done, or that Sony needs more time designing the headset itself. It could mean many things, and without more clarification, it's impossible to tell what the last 15% of development entails.

One thing that has helped speed development along is how Sony is dealing with the headset's hardware. Sony has emphasized on numerous occasions that many of the parts inside Project Morpheus can also be found in everyday cell phones. This means that the hardware is more common than something made specifically for the project, which will keep the cost of the Project Morpheus headset down.

The price isn't the only aspect of the project Sony is keeping accessible. Yoshida believes that Project Morpheus can be used for far more than the Playstation 4, and the Sony executive expressed hope that Project Morpheus could make its way into the classroom, opening up options for teachers and students in order to teach in a way that textbooks cannot. That doesn't mean Project Morpheus won't be used for gaming, though (via GameSpot):

"We are hoping that once we introduce Project Morpheus to the market, the attractiveness of PS4 will increase and the PS4 could be received by many more people who are not necessarily core gamers."

The Oculus Rift, Project Morpheus' main competition, has been in the hands of developers for some time now. A retail release is quickly approaching, with rumors spreading that the headset could be released as soon as summer 2015. While Project Morpheus seems close to completion, given what Yoshida said, he expressed a desire to wait until there was a library of software in place that took advantage of the virtual reality effects.

One thing that Yoshida has confirmed is that Project Morpheus won't be ready for a 2014 release. Here's hoping that Playstation owners won't have to wait until 2016 to get their hands on Sony's headset.

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