The CEO believes it will take a lot of patience until VR tech becomes a lucrative market like the mobile one

May 5, 2015 08:35 GMT  ·  By

Developer CCP Games is currently hammering away at one of the Oculus Rift's launch lineup projects, EVE Valkyrie.

Based on the hugely successful massively multiplayer online role-playing game EVE Online, Valkyrie aims to provide a more immersive experience where you step inside the cockpit of a ship and engage in thrilling dogfights all around the galaxy.

The exciting project is one that people are expecting to be at the forefront of the VR gaming revolution, but it seems that not everyone thinks that virtual reality technology will have as big an impact as expected.

CCP Games Chief Executive Officer Hilmar Veigar Pétursson himself, while talking at a panel at SlushPlay in Iceland, expressed his opinion that VR wasn't going to take off as dramatically as some people might say.

"People tend to overestimate what we will accomplish in five years. But they tend to underestimate where we'll be in 10 years. 3D cards took six years to catch on, and phones took 10 years."

"I used to go to GDC, and they would say that mobile phones are the future, and it was nothing. Ringtones were a bigger business than games back then. And we sit here and say VR is going to be big next year, and it's not going to be big," the executive told VentureBeat.

CCP Games' CEO thinks it's going to take a lot of patience

Pétursson compared the emerging technology with the iPhone, stating that it took around two years for Angry Birds to prove that the platform was real, and another three for Clash of Clans and Candy Crush to emerge and become truly popular, raking in insane profits.

For the time being, the world is torn between those who expect the technology to flop, showing reticence when it comes to evaluating its potential impact on the way we play.

While some see a near future where VR will become an integral part of our everyday lives, there are still plenty who are opposed to the idea of wearing clunky, dorky technological gadgets, and who see it more as a niche or fad.

The market has the potential to grow, and VR technology is truly exciting, it's just that it's going to take much longer than people are currently expecting for it to achieve mass appeal and become commercially successful.