The internet community has been buzzing about Sony's virtual reality headset for awhile now, and even though it didn't come out last year as originally expected, the company has finally unveiled a near-finished version of the product on Tuesday, and according to Mashable, it will be available to consumers by the first half of 2016.

Currently named Project Morpheus, the headset has already undergone several upgrades since its announcement at the Game Developers Conference last year in San Francisco.

In an official post by President of SCE Worldwide Studios, Shuhei Yoshida, it has been stated that the virtual reality gaming system for the PS4 will shape the future of the gaming industry. He also said that the goal of the company is to "deliver a sense of presence, making the player feel as though they've stepped inside the world of a game."

Yoshida also added, "The new Project Morpheus prototype brings us closer to that goal, as it improves the visual experience and tracking accuracy, both of which are critical to achieving sense of presence."

The specs already include a 1920 x 1080 OLED display, which is definitely tons better than the original 1080p. It also has a refresh rate of 120hx that allows games to run about 120 frames per second, which is twice the offer from the previous version.

Project Morpheus is said to have a 5.7-inch display with a 100-degree field of view. The display can be slid in and out as the gamer is wearing the headset, which Yoshida explained can be useful during breaks.

The headset now features nine blue LED lights around the faceplate and headband, which the PlayStation camera will use for positional tracking.

Sony has also insisted in the past that it wants Project Morpheus to be a "plug and play" accessory to the PS4 console, and the DualShock 4 controller already has the optional camera ready to integrate Morpheus into the system.

With all this technology, you may think that Morpheus would rip a hole in your pants, however, a projection from Game Spot last year said that it is very unlikely that the device will reach a $1,000 price ceiling, however it was noted that Yoshida indicated that the Morpheus will be priced in a way that there will be profits for the company for each unit sold - something of a rarity in game hardware, considering that most of them are sold below production costs.

The exact price, however, is yet to be announced by Sony.