Virtual reality is becoming the most modern social media platform and Google has been tapping the virtual reality market heavily. Samsung is keen on tapping that market as well.

Google's Cardboard Virtual Reality Headset is currently available for most smartphones and is practically built from cardboard. Now, Samsung has created a consumer friendly product for only $99. 

The Gear VR is a popular product in the Samsung world and can only be used with select Samsung products. Compared with the Oculus Rift's $599 price tag, consumers have not only a handy device but friendly to the wallet too. Though the device is only locked to Samsung Galaxy devices, it's still affordable for those that have a compatible device. 

But there is one thing that developers and designers have not tapped fully yet. Virtual reality headsets do not have enough content available for viewing and Samsung wants to do something about that.

During the Sundance Film Festival this year, Samsung announced that it has plans on opening a dedicated studio in New York for virtual reality content. The company released a content from Funny or Die and enticed the crowd to use the Gear VR headsets. The little gig drew in quite a crowd.

Marc Mathieu, South Korea Company Samsung's Chief Marketing Officer for United States, announced that Samsung is interested in telling stories. And telling it in the virtual world may not be a bad idea:

At Samsung we love stories, and we love to help people tell stories.

The studio, Mathieu explained, will start with the company's own offices with a marketing team included and there are future plans to make the studio larger.

While major companies are investing in the new virtual reality venture, for now, content and price are the last two things that the virtual industry needs to tackle.