Facebook working on new standalone video app that will support 360-degree footage: Report

After acquiring the Oculus VR last year for $2 billion, Facebook is said to be working on a mobile app for viewing virtual reality videos, which are filmed in 360-degrees.According to The Wall Street Journal, the format will be typically compiled from multiple cameras, which will allow users to change their viewing perspective by tilting their phones. The new app is said to work on Android as well as iOS platforms.The report points out that the development of the app is in early stages and it is unclear when or if the app will launch, said the people, who declined to be named discussing the confidential project.This new app will  help extend Facebook’s presence in virtual reality beyond Oculus and open up the technology to a wider audience. Facebook CEO Mark Zuckerberg has reportedly called virtual reality the next 'computing platform' after mobile devices multiple times in the past.According to the report, Oculus is expected to ship a consumer version of its Rift headset in the first quarter of next year. The CEO hopes the Oculus headset will power a host of new “immersive” experiences, from virtual doctor appointments to live concerts to courtside seats at a basketball game.