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Virtual reality industry 'in need of a jump-start,' Imax CEO says at new VR center

Virtual reality industry 'in need of a jump-start,' Imax CEO says at new VR center

Richard Gelfond, chief executive of big-screen company Imax Corp., unveiled his new virtual reality center Tuesday with a bullish plan to turn the nascent VR industry into a mainstream art form just like movies and video games.

It won’t be easy. The VR business, Gelfond said, remains stuck in its early stages for now and badly needs a “jump-start.”

Though Hollywood and Silicon Valley have been touting virtual reality as the next big thing for several years, there are huge hurdles to its adoption in the entertainment industry. A major one is that  the headsets  and computing equipment the games require  can cost thousands of dollars. Another problem:...

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