Shark Tank investors kind of ripped apart Oculus Rift accessory Virtuix Omni

So.... are the Sharks right? They are not video gamers. The Sharks are investors and business Moguls. Are they Short-sided of the Future.... or can they see a loser product? I can see one of these systems in my game room at the right price... and if it's quality. At least... I can see me buying the Oculus Rift and a motion control gun accessory on day one if it works with the PS4!


Shark Tank investors kind of ripped apart Oculus Rift accessory Virtuix Omni
Authored by Zarmena Khan
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This past Saturday, venture capital investors on the panel of reality TV show, Shark Tank, were not that impressed by the Oculus Rift accessory Virtuix Omni. The panel consisted of Mark Cuban and Daymond John among others.

As you can see in the video, the investors were a little harsh in addressing an idea that got a pretty good backing on Kickstarter, but they have a point. The guys at Virtuix were seeking $2 million in exchange for a 10% stake in the company, but they didn’t have the right answers to some legitimate questions.

The Omni alone is an expensive treadmill without the Oculus Rift (which is a requirement) and the gun peripheral. It’s also pretty massive and you have to wear special shoes to hop on. While the panel at Shark Tank thought it was a cool idea, they pointed out quite a lot of flaws with the concept as well as the business model. Check out the video above to understand their argument.


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SOME COMMENTS


2-Bit Arcade
1 day ago

Fools. If I had 2mil I'd buy in. VR is the future of entertainment, not just video games. Not every game is running and gunning and not every VR Experience is full of action. I'd be willing to bet most VR "games" would be about exploring environments both real and fantasy and interacting with characters both real and artificial.
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danmobile
20 hours ago

+huldu Clearly you have not tried the Oculus rift.
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danmobile
19 hours ago

+huldu But I agree this device is not the future / and will flop. Oculus rift however is the future (this concept), it's immediately clear why when you slap it on your head for the first time. It's much evolved since the 90s @ a price point that will make sense. The next 12 months will be massive for VR.
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Rebel DeW
21 hours ago

Reality Show Investors Rip Oculus Accessory, but They Have a Point
When we first saw it used in games like Minecraft and Team Fortress 2, the reaction was, more or less, "Cool!" And it is cool, to go running around in Skyrim on the Virtuix Omni. Unfortunately, it's got to be a lot more than cool to get even $2 million in investor money.

This is Saturday's edition of "The Shark Tank," which as a concept—reality show meets venture capital investors—sounds a lot less cool than an omnidirectional treadmill. The panel, which includes Mark Cuban (the Dallas Mavericks of the NBA), Daymond John (FUBU) and others, has some snide things to say about gamers' lifestyles as Robert Herjavec flails around on the Virtuix's low-friction pad.

Continue Reading Here:
http://kotaku.com/reality-show-investors-rip-oculus-accessory-but-they-h-1479625996


Logain Ablar
1 day ago

I totally understand the perspective of the Shark Tank panel. Every single point made is legit and I wouldn't invest in the Omni either. It's a oversized, overpriced peripheral, catering to a niche market that asks too many gamers to be psychically active beyond their ability. Asking investors to invest tomorrow's estimated value, today, is a risk that many savvy investors wouldn't take and rightfully so. The idea is a good one, but the execution isn't there yet. Maybe in version 3.0.
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Aleks G
13 hours ago

To an extent I agree. However, I'm not so sure that VR will remain the niche market many thinks it will (i'm rather optimistic ). I agree that the execution "isn't there yet", but currently it's the only product (except Virtualizer) that allows for immersive VR movement -- and although I haven't tried the Omni, I believe they've got a great product. I think other companies would have to work hard to get to where they are now (if they wanted to make a copy/rival product). As a Rift-owner, I KNOW that once you get the Oculus Rift, you'll want positional body tracking, and the Omni.


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John Doe
1 day ago

Gamers have and will spend up to $600 for a limited edition console bundle from a console that they already own. They are willing to spend up to $150 for a video game bundle as well. I really do believe that gamers know the potential that this product has and as such this device would have definitely sold at $500. Anyone else agree?

I think eventually.... Crystal Cove(Oculus Rift) will be forced to bring a Oculus Rift to the PS4 and xBox One market place to bring in the most profit possible to get back the investment on the development of the Rift. Over the next few years, the PS4 and xBone market will be huge.  Only SONY & Microsoft could make the Rift not work on their consoles... to bring their own VR headsets to market.  That is likely.

I'm sure there are other platforms (U.S. Military for one) that could be looking at the Rift for training of soldiers in the field.  But limiting their market area to PCs and Smart Phones only... they will soon find the Rift will become a niche market device that the common user or gamer will pass by... and instead buy a large high end HDTV for the family and their gaming in the living room for all to enjoy.

I would buy a Rift for my PS4.  I'm sure xBone users would invest $300 into a Rift also.  But there isn't enough PC or Phone users that would jump on a Rift to make the Rift successful.  IMO.
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Sat, Jan 11, 2014 | 20:59 GMT
Oculus Rift ‘Crystal Cove’ prototype designed as “a seated experience,” says founder

Oculus VR showcased the latest version of its Rift headset, dubbed Crystal Cove, at CES 2014 in Las Vegas last week.

According to a Q&A with Reddit Games featuring Oculus VR founder Palmer Luckey and vice president of products Nate Mitchell (via Q&A in the video below.