The latest hope for virtual reality gaming has nearly quadrulpled its funding goal on Kickstarter less than 24 hours after starting its pledge drive.

The Oculus Rift headset has been designed specifically for video games, and features an incredibly wide field of view, high resolution display, and ultra-low latency head tracking, according to developers Oculus Virtual Reality Inc.

With 29 days to go, the project has attracted US$959,820 (NZD$1,185,207), easily surpassing its $250,000 (NZD$308,705) target.

“There are a number of VR headsets out there, but none that deliver a truly immersive gaming experience. Most products either lack the technical features required for believable immersion or sit at a very high price-point, reserved for the military or scientific community,” said the company.

“We set out to change all that with the Rift, which is designed to maximize immersion, comfort, and pure, uninhibited fun, at a price everyone can afford.”

The VR headset was Kickstarted to get kits in the hands of developers as soon as possible, and some big names appear to be clamouring to get their hands on the device.

"What I've got now, is, I honestly think the best VR demo probably the world has ever seen," said id Software's John Carmack.

"Needless to say, I'm a believer... We're extremely excited here at Epic Games to get the Unreal Engine integrated with Oculus," - said Epic's Cliff Bleszinski.

"I’m really looking forward to getting a chance to program with it and see what we can do,” said Valve's Michael Abrash.

"It looks incredibly exciting, if anybody’s going to tackle this set of hard problems, we think that Palmer’s going to do it," said Valve owner Gabe Newell.

The technical specifications of the dev kit are:

Head tracking: 6 degrees of freedom, ultra low latency
Field of view: 110 degrees diagonal / 90 degrees horizontal
Resolution: 1280x800 (640x800 per eye)
Inputs: DVI/HDMI and USB
Platforms: PC and mobile
Weight: ~0.22 kilograms