You can now get a basic Oculus Rift setup at a price much more affordable than the HTC Vive VR package.

The company announced at GDC 2017 that it cut the price of its Rift headset and Touch motion controllers by $100 (about £80) each, making the cost of a complete system just $598. That makes the headset not only cheaper than the full HTC Vive setup but also only $100 more than the PlayStation VR. Keep in mind the Rift also requires a gaming PC that should cost around $1,000 or more.

Oculus said that anyone who purchased Touch at full price in the last 30 days will get a $50 Oculus Store credit. Previously, the Rift had a $599 (£499) price tag, while Touch was priced at $199 (£189). When combined with the cost of an extra $79 camera, the full platform was more expensive than the $799 HTC Vive, which comes with two Lighthouse tracking boxes and two handheld controllers. 

Oculus has started to officially support cheaper PCs, such as the $499 Cyberpower machine. So, with the new price drop, former CEO Brendan Iribe explained that the most robust Oculus package, which involves the Rift, Touch, a PC, and at least three USB cameras (they've also been dropped to $59), should costs a little more than $1,000. But price isn't the only thing preventing the Rift from full adoption.

The Oculus Rift tracking system still needs a dedicated virtual reality room in your home - and you're tethered to a PC. Iribe said Oculus is looking at the future, next-generation versions of VR being more wireless-oriented, with wireless tracking and all. Its all-in-one prototype, called Santa Cruz, which appeared at last year’s Oculus Connect event, is still not ready for commercial production, however.

• Oculus Touch controllers: When can you buy them and for how much?

Oculus is also apparently working toward bundling the Rift headset with the Touch controllers. “We suspect the majority of people getting in now are getting in on Rift plus Touch,” Iribe said.

We contacted Oculus for UK prices and will update when we know more.