What’s up with Microsoft’s new $299 standalone VR headset?

Facebook’s Oculus, HTC, Sony, Samsung, and Google–time to get a little nervous.

At an event in New York today, the tech giant said it and its partners—Acer, HP, Dell, Lenovo, and Asus—will be releasing an as-yet unnamed line of standalone virtual reality headsets meant to leverage Windows 10’s VR and holographic features.

The headsets will have some of the features of high-end VR systems—including the ability to track users’ positions in physical space, and will do so without any external sensors, The Verge reports. In that sense, the headsets will be similar to Oculus’s Santa Cruz prototype, which can track users without wires, and without an attached smartphone or PC.