Viable competition might be coming for the Oculus Quest.
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According to datamined information shared first by YouTuber SadlyItsBradley, Valve might be working on a standalone VR headset. This means that they are possibly working on a device that will allow you to play in VR without the need for wires or external tracking satellites.

SadlyItsBradley noticed several references to something called "Deckard" in the latest update for SteamVR. He says that information he found suggests there have been multiple iterations of the headset tested, including a "proof of concept" one. Datamined information also includes the phrase "standalone" and others that hint towards internal processing power. Hence, the idea of a standalone VR headset being in development at Valve was born.

Backing up SadlyItsBradley's claims is a new report from Ars Technica that cite their own sources for the existence of Deckard. Their report doubles down on some of SadlyItsBradley's claims but notes that just because Valve is internally working on something it doesn't mean the device will ever make it to retail.

Ars also notes that Deckard also includes updated optics. These updated optics are reportedly positioned closer to the user's face. They offer "better performance, better weight distribution, and more comfortable virtual movement."

In the here and now though is Valve's upcoming Steam Deck. This is a portable gaming machine that will natively run most all of your existing Steam library anywhere and at any time. Valve also released their own VR headset in 2019 named the Index. However, unlike standalone devices like the Oculus Quest 2, the Index requires external sensors and a PC to function.