The makers of one of this year's hottest Christmas presents have formed a new association to represent the burgeoning technology of virtual reality.

Facebook, Google and Sony Entertainment are among the founding members of the Global Virtual Reality Association, a nonprofit that will develop and share best practices for industry and foster dialogue between public and private stakeholders around the world, according to the group's website.

The one thing many of the founding companies have in common is they have released virtual reality devices onto the market within the last year. Facebook manufactures Oculus VR headsets for video games and other software applications while Sony has released similar technology that runs with its popular Playstation 4 game system.

Virtual reality has been around for a long time, but recent advances have put the technology within the price range of most consumers.

"VR has the potential to be the next great computing platform, improving sectors ranging from education to healthcare, and contribute significantly to the global economy," the association said in a statement. "Through research, international engagement, and the development of best practices, the founding companies of the Global Virtual Reality Association will work to unlock and maximize VR's potential and ensure those gains are shared as broadly around the world as possible."

The association has not announced any staff hires. www.gvra.com

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