Organizers of Open Source Virtual Reality, or OSVR for short, are announcing its latest Hacker Development Kit, the HDK 2, which features an upgraded display that allows it to perform as well as the Oculus Rift and HTC Vive, but for a fraction of the price.

The HDK 2 features a custom-designed lenses and an OLED dual-display that’s capable of a total resolution of 2160x1200 running at 90fps. The headset also includes Image Quality Enhancing technology that helps reduce the screen door effect and provide clear, vibrant visuals.

Because the HDK 2 is powered by the OSVR ecosystem, users are able to use a wide variety of controllers and offers unrestricted access to multiple realities. The headset offers native OSVR support with support for SteamVR and emulators, like Vireo perception, on the way. As far as developmental tools, the HDK 2 has native support for UE 4.12, Cryengine, and Unity.

The HDK 2 runs at the same display specifications as both the HTC Vive and Oculus Rift, although it’s much more affordable as it’ll retail for $399.99 when it ships in July. The HDK 2 is also open to evolution as both its software and hardware can continue to evolve. For example, if a new eye-tracking technology or a new controller are released, the HDK 2 will be able to support them.

In addition to announcing the HDK 2, OSVR has also announced a special developer fund, called the OSVR Developer Fund. The fund is a content accelerator program led by Razer which avails $5 million to the developer community and encourages developers to support the OSVR ecosystem. Doing so will allow their program to work across the board with all VR hardware, thus allowing VR fans and developers more choice.

The OSVR Developer Fund is available to both indie and major developers, and if there's interest, Razer will purchase game codes in bulk, or future contributions, for support on the platform. “We understand content developers have various development challenges and we’re committed to helping them get ahead of those barriers,” says Justin Cooney, OSVR director of developer relations, Razer. “The OSVR Developer Fund helps to support initial sales while enabling developers to contribute to the VR industry as a whole. Together, OSVR and its content partners enjoy the realization of a shared vision for the future of VR.”

Candidates will also receive marketing and promotional support, including the opportunity to be a part of OSVR hardware bundles or having their game showcased at major consumer events.