Source: http://www.wired.com/underwire/2014/01/o...

But in reality, no one — not even Oculus — knows what filmmakers will do with so powerful a tool. “Rule Number One: There are no rules yet,” Chen says. What is known is that the ways that perspectives can change thanks to virtual reality are remarkable. Movies, as Roger Ebert said, are “like a machine that generates empathy.” If a person in a VR headset can experience a protagonist’s or antihero’s life first-hand, then the Rift actually becomes that machine. (The possibilities for documentaries seems particularly appealing; Oculus Rift is already being used by artists to “gender swap.”)

“Most of the material that’s being developed for Oculus is gaming, which is very easy because it’s obviously a gaming engine,” says Milk, who worked on Arcade Fire’s interactive video “The Wilderness Downtown.” “A videogame system is set up to render any direction in realtime. In film, we are shooting one angle, one direction, and we’re editing it with intent. What this gives you is a whole other dimension of emotional connection.”