1991 – Arcade Machines. More specifically, they were group arcade machines. A range of virtual arcade games and machines were released during this time, as household products were pretty far out of reach at the time. Players would get these VR goggles and big round chairs to sit in. Players were fully immersed in a stereoscopic 3D environment, with some game units even being connected with neighboring units, encouraging multiplayer.
1993 – SEGA annoucnes VR Glasses… and never releases them. The device was an LCD headset goggle device that even had stereo sound. For whatever reason, however, SEGA never released the product; it never left prototype stage so they dropped it altogether. The implication that technology had advanced far enough to even consider and partially develop a household VR gaming accessory for a home console is astounding, especially by 1993's standards. Technology was evolving, and it was doing so quickly. Though this was a huge flop for SEGA, it was a big step forward for VR.
1995 – Nintendo's Virtual Boy. Again, this was a huge flop. The Virtual Boy did not sell well, for a great number of reasons. It was hyped up to be the first portable gaming device that rendered fully 3D games; so you can travel and VR anytime you want. However, there were a few problems. Given how big the headset was, it wasn't too practical to carry around. It was also uncomfortable; not just for the head, but for the eyes. The device only had two colors: red and black. A very scary and annoying thing to look at while playing games, especially if they're flashing or exploding and whatnot. Because of this commercial failure, games were not made for it, so it even had a low number of software to be used. The following year, production was stopped, and Nintendo moved on.
And thus, the reign of Virutal Reality ended, for a long time. The technology just wasn't cooperating. Companies were not able to create what they had envisioned… not yet. So, for a time, virtual reality became (unofficially) immersing oneself into a world. It wasn't until 2012, when a company called Occulus VR started a "Kickstarter" campaign to get their technology up and running. For the first time in a long time, a legitimate VR device was being developed for home usage. And this time, it works.