I started working with AR (augmented reality) somewhere back in 2011-12 and have tried a few different methods/apps. After some research I'd narrowed down which to work with between Layar and Aurasma. I found Aurasma's tools to be rather clunky and unintuitive, but most importantly I found their pricing to be absolutely out of the question ($5,000 per augmentation? Yikes!).
Not only are Layar's creation tools extremely intuitive, but their pricing models are the best. ...about $3 for 30 days or about $30 for a year. You can update the augmentations as many times as you want too! But I think I'm getting ahead of myself, if you haven't seen augmentations before then go ahead and look through some of my videos below!
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As for VR (virtual reality), this is more of a hobby for me (I've not yet produced any VR content).
Back in '95, I'd tried out VR at an arcade in the Fair Oaks Mall (Reston VA) and it was absolutely horrible! You had to wear this gigantic helmet (which weighed a ton), you couldn't wear your glasses and you couldn't focus the lenses of the helmet, and worst of all the frame rate was so slow that what little I could make out appeared to be a slide show.
And now here we are in the year 2015, on the poise of a VR explosion! You've probably already heard about Facebook buying Oculus Rift for $2 BILLION (and the Rift hasn't even come to the market yet)! There are going to be so many VR headsets soon that it'll make your head spin (in more ways than one). But pretty much none of them will be available until sometime next year.
Unless of course you have some extra cardboard sitting around. That's right, all you need is a smart phone, some cardboard, and then simply download the Google Cardboard app and you can experience VR right now!