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As the video game industry prepares for what could possibly be a massive shift in the medium, Time magazine revealed its cover story on virtual reality Aug. 6.

Unfortunately, many proponents of the new technology thought it disgraced the upcoming products and was counterproductive to get mainstream VR success.

The Internet just thought it was funny.

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Via: umeaenergi
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Using an Oculus Rift and Raspberry Pi, umeaenergi experimented with what would happen if there was real life lag.

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Via: Facebook
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In a statement today, Mark Zuckerberg announced Facebook's acquisition of VR development company Oculus, saying they plan to not only support Oculus' current efforts, but also to help them expand and make VR a platform for more than just games:

We're going to focus on helping Oculus build out their product and develop partnerships to support more games. Oculus will continue operating independently within Facebook to achieve this.

But this is just the start. After games, we're going to make Oculus a platform for many other experiences. Imagine enjoying a court side seat at a game, studying in a classroom of students and teachers all over the world or consulting with a doctor face-to-face -- just by putting on goggles in your home.

Read Zuckerberg's full statement here. Facebook's two billion dollar purchase includes $400 million in cash and 23.1 million shares of Facebook common stock.

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