You might want to start saving those pennies and investing in a larger piggy bank, because the Oculus RIft's price range has been revealed.

According to IGN, Oculus VR co-founder Nate Mitchell revealed to Eurogamer that the device could sell for $200-$400. That's quite a pretty penny, but co-founder Palmer Luckey said, "It's going to be as cheap as possible."

The company has been redesigning the headset for consumers, taking care to make it more functional and aesthetically pleasing while also keeping it an affordable price upon release. According to Mitchell, there are currently plans to raise the refresh rate from 75Hz to 90Hz, which would reduce the size and weight of the product, which would also mean a decrease in material cost.

Time will tell how many other improvements and cost cuts can be made to the Oculus Rift before its release. But it seems we'll have quite some time to go before these headsets can be wrapped around our craniums since there's still no release date set for the Rift's official release. Stay tuned as we provide more information about the Oculus Rift as it's made available.