Sony has revealed the release date of its virtual reality gear "Playstation VR" at this year's Electronic Entertainment Expo, or E3. It looks like a great addition to a gamer's growing collection of consoles and gaming peripherals, but how much would it cost to get one?

"Playstation VR" is codenamed Project Morpheus. (Sony is clearly a "Matrix" fan, with the Playstation 4.5 being nicknamed Neo). The new device is Sony's way of getting into the VR arena, competing with other virtual reality devices such as Oculus Rift, IT Pro reported.

Sony's VR headset will be priced at $399 when it launches in October. The device is notably cheaper than the $599 Oculus Rift, and the even more expensive $799 HTC Vive.

The games for the Playstation VR will have a general price range of $20-40, CNBC reported. Sony Interactive Entertainment President and Group CEO Andrew House said, however, that there might be a few titles at higher or lower price points.

According to the Playstation website, the Playstation VR requires a Playstation Camera to be connected to the PS4 unit. So players who don't have the camera yet would have to shell out between $40 - $60.

Sony announced another PS4 VR accessory, the PS VR Aim Controller. A descendant of the old Playstation Move SharpShooter, the Aim Controller promises direct 1:1 tracking, so the virtual gun will point at wherever you point it at in real life.

The VR Aim controller is not available yet, and is completely optional. The original SharpShooter controller costs around $20 on Amazon now, so it could be around a $30 - $40 price range for the Aim.

Speaking of requirements, some VR games will require the use of the PlayStation Move controller, and some would even require two. According to Playstation Lifestyle, players can get the Playstation Move Bundle, which consists of two Move controllers, at $99.99.

There was a Preorder Launch Bundle made available in March, which includes the VR headset and all its add-ons (headphones, cables, demo disc), the Playstation Camera, two Move Controllers and a game called "Playstation VR Worlds". It was offered at $499 at the time.

Preorders are no longer open at the moment, according to the website, but will open up again this Summer. It is not stated whether the Preorder Launch Bundle will still be available.

If purchased separately, the whole set can cost players almost $550, and this does not include the games yet. Still, compared to the competition, the Playstation VR is still coming out as the cheapest among the rest.

Whether it's worth the price, however, is yet to be known.

The Playstation VR will be available on October 13, 2016.