Join us live from GDC 2016 in San Francisco as Sony reveals key details on PlayStation VR!
We've heard pricing and release details on Oculus Rift and HTC Vive - now it's Sony's turn. After the eye-watering prices of those virtual reality headsets, all eyes are now on Sony to provide a more affordable alternative.
Hopefully we'll also get a better glimpse at some of the games headed to PlayStation VR, and announcements from some of the other developers supporting the technology.
Could a few fan favourite PlayStation franchises also be shown?
The show is due to start at 9pm UK time, and Oli is on the ground to report the announcements as they happen.
Our live coverage of this event has finished.
Welcome to our live reporting from tonight's PlayStation VR event in San Francisco! There's no livestream, but Oli is in the audience for us.
每 Tom Phillips
_LarZen_: Don't you think it's strange that it's behind "closed doors?". If they are going to show some new content and finally say the date and price wouldn't it be beneficial for Sony and PlayStation for fans around the world to see it?
GDC is primarily a developer event but we're still expecting the news we're all waiting for - and Sony still has E3 for a more public showing.
每 Tom Phillips
Smart money would put the price at or around the same RRP as the PS4 itself - although Sony will want to aim as low as possible to avoid another "$599" moment.
每 Tom Phillips
We're one hour away! (Although Sony press conferences have a time-honoured tradition of starting late).
每 Tom Phillips
Games we're expecting see demoed today include Until Dawn's PlayStation VR follow-up Rush of Blood, and hopefully more of VR exclusives Rez Infinite and Psychonauts: In the Rhombus of Ruin.
每 Tom Phillips
Ubisoft also has a trio of VR projects - aerial flying sim Eagle Flight, some kind of Assassin's Creed movie tie-in experience and today's just-announced multiplayer VR game Werewolves Within.
每 Tom Phillips
每 Tom Phillips
Hi everybody! I'm in!
每 Oli Welsh
I say in. I'm sat outside on the roof of a mall next door to the Moscone conference hall. It's a typically crips sunny San Francisco day. We'll be filing in to the presentation in 10 minutes or so.
每 Oli Welsh
I reckon this will be a fairly short presentation - I believe it'll come straight from PlayStation's boss of bosses, Andrew "big fish little fish cardboard box" House.
每 Oli Welsh
I'm definitely expecting price and date, or at least a release window. All eyes will be on that price after the eye-watering cost of Rift and Vive - but can Sony really make their VR headsets any cheaper? The hardware's similar, and Sony are shipping an extra processor box too.
每 Oli Welsh
Of course, a PS4 is a good deal cheaper than a VR-ready PC.
每 Oli Welsh
I don't know if we'll see any new game announcements today, but I hope so. We've got hands-on demos after the presentation.
每 Oli Welsh
Rez Infinite is a dead cert - Tetsuya Mizuguchi is just over there, looking cool in black today.
每 Oli Welsh
The real question, you're me, is how much more time in virtual reality I can take. I've come straight from a morning of back-to-back Rift demos. It was fine - until it wasn't.
每 Oli Welsh
Anyway I'm going to queue to get a good seat now. Wish me luck!
每 Oli Welsh
Kables: Anything less than £500 and i'm in. The me of 30 years ago would be squealing in delight about now.
We're betting on £399 here.
每 Oli Welsh
$499 dollars or Euros. There, I can't take it back now.
每 Oli Welsh
I'm sat down. This is a pretty intimate gathering as these things go - maybe 300 press here.
每 Oli Welsh
I can confirm that Sony are still keeping the manufacturers of intensely blue spotlights in business.
每 Oli Welsh
busta.rhymes: ok now how about release date? what you people predict?
I'm going.... September.
每 Oli Welsh
Today's mood music is acid jazz. GDC doesn't do dubstep. It's too chill.
每 Oli Welsh
It's gone a bit more ambient now. The sort of music you'd expect to play in the reception of an LA oxygen bar, with 4K screens showing slow-motion video of porpoises.
每 Oli Welsh
Here comes Andrew House!
每 Oli Welsh
Awkward pause - his mic's not working.
每 Oli Welsh
And we're back. Andy's bragging about PS4 sales.
每 Oli Welsh
It's been a long road for virtual reality, he's saying. PSVR started in 2010 as individual passion projects for a few teams throughout the world.
每 Oli Welsh
House says it reminds him now of the anticipation they all had when building the first PlayStation.
每 Oli Welsh
"We've always used technology to push the boundaries"... oh god he mentioned the Emotion Engine, didn't he get the memo
每 Oli Welsh
More emotions from VR: fear, exhilaration, curiosity, power and joy.
每 Oli Welsh
Sony has more than 230 devs building content for PSVR.
每 Oli Welsh
There's a common thread that connects them all, Andy says: a wide-eyed enthusiasm for a new medium. "VR is a big part of the future of games."
每 Oli Welsh
It;s a game showreel. There's something caled VR Worlds which seems to be a demo compilation. Harmonix Music VR, is that new?
每 Oli Welsh
每 Tom Phillips
A few names I didn't recognise there, but nothing major.
每 Oli Welsh
Andy showed a side of the final hardware - it looks very much like the prototype. Processor box confirmed. Bunch of other pack-ins, mostly cables and headphones and the like.
每 Oli Welsh
每 Tom Phillips
Andy's talking tech specs now, but as far as I can tell it's all the same as the specs of the prototype hardware.
每 Oli Welsh
October. $399, 399 Euros, £349
每 Oli Welsh
Round of applause for that. Way lower than I expected.
每 Oli Welsh
44,980 Yen, as well.
每 Oli Welsh
This is huge. A very aggressive move against the PC headsets.
每 Oli Welsh
They've targeted October, House says, to ensure there are enough games and that they can manufacture enough hardware to meet demand.
每 Oli Welsh
Cinematic mode: you can play standard PS4 games or enjoy Netflix on a virtual big screen at three different zoom levels.
每 Oli Welsh
More details about "entertainment content" in the coming months.
每 Oli Welsh
每 Tom Phillips
There'll be a new media viewer app for VR photo and video support.
每 Oli Welsh
The Playroom VR will also be a free download for all owners.
每 Oli Welsh
Star Wars Battlefront
每 Oli Welsh
There'll be a special version produced by EA, LucasArts and DICE exclusively for PSVR. Big.
每 Oli Welsh
Also, Sony's tracking 50 PSVR games for release between October and the end of the year.
每 Oli Welsh
Thanks, he says. I think we all thank him back, no?
每 Oli Welsh
Very impressive. Sony's electronics production might - and perhaps, its willingness to take a loss on hardware - brings a pretty attractive price. They said it would be around the cost of a new console, and it turns out they meant it.
每 Oli Welsh
As a lot of you are pointing out, this means a potential PSVR vs Nintendo NX clash at retail this Christmas.
每 Oli Welsh
Lots of questions still. How much for a bundle with Move and a camera? And where are the massive first-party PlayStation games?
每 Oli Welsh
Though bringing Battlefront in answers the AAA question to a great degree - and leaves Sony free to concentrate on the really important part, innovation.
每 Oli Welsh
Sony's record with PlayStation add-ons and alternative platforms isn't great, though. And the mass market appetite for VR is completely untested.
每 Oli Welsh
fredrikpj: @Oli Welsh, give Keighley a hug from us!
If I can do it without getting arrested, I will.
每 Oli Welsh
Sorry, pulled away for a brief chat with the PR. Right, I'm going to go play some demos. Huge stuff from Sony tonight - a really big win. I'm interviewing Shu Yoshida tomorrow, so if you have any questions for him, ping me with an @Oli here, private message me on the site, or tweet me @oliwelsh.