With the PSVR launching this week, and plenty of Oculus Rifts, HTC Vives and Gear VRs already in the wild, people's VR options are growing, but not everybody has the space or cash for a decent setup.

So Nolan Bushnell, the founder of Atari and Chuck E. Cheese, is launching a new virtual reality company called Modal VR, along with Jason Crawford (who invented the Modal tech and serves as the ...