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Nikon KeyMission 360-Degree Action Cam only costs $500

| Sep 22, 2016 06:13 AM EDT

Nikon's KeyMission 360 camera is mounted on top of a helmet.

Nikon is now entering the virtual reality industry with their new KeyMission 360 camera aimed at capturing VR videos which are increasingly becoming more common today.

The Oculus Rift and the HTC Vive might have pushed VR to the consumers but the number of content, both in games and videos, is still quite small. Now, companies are trying to dip their feet in VR by giving aspiring film makers the right tools for 360-videos and such.

Nikon is releasing the KeyMission 360 and the KeyMission 170 for users who want to capture VR films for their own pleasure or to please others. The Nikon KeyMission 360 has several ultra-wide angle lenses that are powered by 20MP sensors which can capture footage in 4K, Engadget has learned.

It can even be used as a replacement for a GoPro camera as it is water proof up to 30 meters and shock proof up to two meters. Nikon's new VR camera does not even need a special case for the resistance but the company said that they will be selling silicone cases for users who want to further protect their precious camera.

The Nikon KeyMission 360-Degree Action Cam is priced at $500 and is bundled with a smartphone VR viewer, WIRED reported. Videos captured from the camera can be sent to a smartphone via the Wi-Fi function and users can also edit them through Nikon's own app.

Nokia has their own Ozo VR camera but the price is not mass consumer friendly. Nikon is a trusted name in the camera industry and their foray into the VR business could prove to be a profitable venture for the company.

For those who have fewer cash to burn, they can choose the Nikon KeyMission 170 for $400 or the KeyMission 80 for $280. They could be proxies for thrill seekers that still want to record their experiences without shelling too much for a GoPro Hero camera.

Nikon will be selling the KeyMission 360 and their other action cameras in October. On paper, the specs already look good but hands-on reviews are still needed to properly determine whether the cameras will be worth it.

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