The new VR headset has several features such as Avatars, Parties and Rooms.
Facebook owned virtual reality company Oculus has unveiled a prototype standalone headset which will not require connection to a computer of mobile phone.
One of the features of the new VR headset was that users could create a virtual identity using Oculus Avatar, a platform feature that lets users customise VR identity.
Over 1 billion permutations have been incorporated into this feature so that one can customise the Avatar with little details including clothing and accessories.
Another new feature in the VR platform is its ability to share and experience games with people who are physically not there.
At Oculus Connect 3 (OC3), Facebook CEO Mark Zuckerburg also revealed Touch controllers. Touch controllers can be pre-ordered from October 10, for $199 and they will be shipped starting from December 6. These come bundled with VR Sports Challenge and The Unspoken. The Touch controllers also include an additional sensor and a Rock Band VR connector.
In a bid to expand VR content, Facebook is planning to invest $250m apart from the $250m it has already invested.
It is expanding the number of apps available for Gear VR to attract more users.
Currently there are 400 VR apps and the company is looking to expand it. It noted that the mobile VR plays an important role in the broader ecosystem.
The company also announced many additions to the Mobile SDK, which make it easier for developers to bring many more apps to Gear VR.
Oculus has also introduced new earphones which will be compatible with the previous Rift headset as well. Oculus claims that the earphone offers solid bass response with high levels of well-balanced sound signature. This earphone can also be pre-ordered for $49.
At the presentation event, Mark Zuckerberg noted that the price of the Rift headset was high and the new headset was an attempt to make it more affordable.
Currently, Oculus VR headsets are facing competition from Google, HTC and Sony.