The Oculus Rift consumer version is ready to take the world by storm when it hits gaming stores when Q1 of 2016 arrives.

However, they won't be the only one to make a lot of noise next year as HTC Vive will also make its debut and both VR devices are expected to rival one another for supremacy.

Nevertheless, Oculus Rift founder Palmer Luckey said that he is not worried about the competition at all. In fact, he is happy that many are exploring the VR market which signifies that there is indeed a future in the industry.

"We're still at the forefront," Luckey said in an interview with Eurogamer. "Other people getting into the industry: that's great. It shows that it's not just one crazy company that thinks VR is going to take off. It would be a bad sign if other people didn't think VR was something they should copy and get into. But we're currently in the best technological position in terms of bringing VR to a lot of people.

"It's worth noting that it's not like we developed Touch in a few months as a response to [Vive]."

And for those who are wondering how much will Oculus Rift consumer version will cost, Luckey said it might be priced at around $350.

"We're not trying to make a big profit on hardware," he said. "And as a guide, the most recent Oculus Rift development kit costs $350. For us it's about getting it out there and growing the VR industry, and then we have a lot of VR software that we've been investing in that we think people will want to buy, so it's not a matter of making a profit on hardware alone."

"We'll announce the price when we launch pre-orders later in the year," he adds. "We're selling it as affordably as we possibly can. People are going to get really good value for what they're paying."