PlayStation has announced it is working on a virtual reality headset of its very own, entering what is quickly developing into a competitive marketplace. 

The video game giant unveiled a prototype of its new Project Morpheus headset at the annual Game Developers Conference in San Francisco earlier this week (March 18, local time).

Although still in the development phase, the headset currently boasts 1080p resolution and a 90 degree field of view, as well as 3D audio technology to deliver a fully immersive gaming experience.

Project Morpheus is also currently compatible with a range of PlayStation 4 peripherals, including the PlayStation Camera, DUALSHOCK 4 Wireless Controller and PlayStation Move, offering users a number of different options for how they use the device. 

In a blog post, President of Worldwide Studios for Sony Computer Entertainment Shu Yoshida predicted that virtual reality "will shape the future of games". 

"I have long dreamed about VR and the possibilities it brings in regards to game development. This new technology will deliver a sense of presence, where you as the player actually feel like you're inside the game and your emotions feel that much more real," wrote Mr Yoshida. 

"The prototype for Project Morpheus is the culmination of our work over the last 3+ years as we've refined our vision for VR."

Project Morpheus is the first serious competitor to the Oculus Rift – which is also currently available only as a development kit – that has cropped up. 

However, reports are now emerging that Microsoft is also working on a virtual reality headset for the Xbox One console. The Wall Street Journal (WSJ) is reporting that sources "familiar with the project" have confirmed Microsoft has "filed at least one patent for [3D virtual-reality devices] so far".

As the race to deliver a mass-marketed virtual reality device heats up, consumers will be eagerly awaiting their opportunity to get a first-hand look at what is likely the future of video game technology. 

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