The new standalone headset is called Quest and costs $399. It will ship in the Spring, and come with more than 50 game and experience titles available at launch.
Quest is the company's "first all-in-one VR system with six degrees of freedom that lets you look around in any direction and walk through virtual space just as you would in the physical world," Facebook said.
The wireless headset works with hand controllers to create experiences that rival the company's wired Rift VR system, Facebook CEO Mark Zuckerberg said during Oculus Connect, the company's annual conference for its virtual reality hardware division, in San Jose, California.
"It's got adjustable fit so it's comfortable to wear with glasses. It's got built in 360 audio," Zuckerberg said. "This thing is just wonderful."