Time Magazine’s annual list of best inventions of the year is now out, and Sony’s PlayStation VR headset has managed to make the cut due to its affordability.

With positive reviews and good sales numbers in the month or so it has been out, it goes without saying that thelaunch of Sony’s PlayStation VR headsethas been nothing short of a big success for the company. Not only has theheadset managed to meet sales targets, its relative affordability compared to the HTC Vive and theOculus Rifthas managed to set it apart from its rivals. Needless to say, the affordability of a piece of tech like thePlayStation VRis quite impressive, and it is for this reason that Time Magazine has named it one of the best inventions of 2016.

In its recently-released annual list of best inventions, Time Magazine stated that"to access the most cutting-edge virtual reality, people typically have to shell out thousands of dollars" not only for a headset, but also for a computer powerful enough to support it. However, this is where the PlayStation VR shines as not only is it cheaper than the HTC Vive and Oculus Rift, but it is “designed to work with a console that millions of people already own: the PlayStation 4”.

Given that thePlayStation 4 has sold over 40 million consoles, this means there is already a large and established customer base that can easily access and use the PlayStation VR, something that the HTC Vive and Oculus Rift can’t quite compete with at the moment.

While the PlayStation VR itself may be cheaper than its rivals, it will still require a significant investment as users will also have to invest in aPlayStation Eye Camerain order to use the headset. Furthermore, with the recent release of theupgraded - and more expensive - PlayStation 4 Proconsole, consumers may find that cheaper does not necessarily mean cheap.

Having said that, this doesn’t take away the fact that Sony’s headset is an impressive price of tech that’s here to stay, a sentiment that was echoed inGame Rant’s own review of the PlayStation VR. With virtual reality starting to make its way into areas beyond gaming, such asThe Games Awards 2016next month, it certainly appears that not only is the PlayStation VR’s recognition by Time Magazine is not only a win for Sony, but also a win for the future of virtual reality.