Virtual and augmented reality were the highlights of Facebook’s F8 developer conference. Among the several important updates coming from CEO Mark Zuckerberg and his team were Facebook’s first VR social platform, open-source codebase for WebVR developers, and new tools to create augmented reality content, among several other announcements.

Alexis Macklin, a Greenlight Insights analyst who covers Facebook, Oculus, and VR/AR trends, created a special Flash Note dissecting the announcements and the long-term implications for the VR/AR industry.

For example, Facebook's new Surround 360 VR cameras - x24 and x6 - are very important advances for storytelling in VR. "This year, Hype VR showcased their photorealistic volumetric video and it was impressive, but the camera system used was complicated and isn't available commercially," says Macklin. "Facebook's cameras are a more realistic option for professional VR filmmakers."

"Facebook has redoubled its efforts in the VR market. React VR and React Fiber will ensure that Oculus' developer base grows significantly in the coming years," says Colin McMahon, an analyst with Greenlight Insights.

In the Flash Note, Macklin provides analysis on:

• Facebook’s first VR social app for Oculus Rift and Touch
• A new, free AR creator tool for Facebook Stories
• Specifications on Facebook’s first volumetric cameras, and the partnership fueling the innovative camera
• React VR, Facebook's open-source code base for WebVR

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