A local company with ties to Lockheed Martin thinks it has “the” game changer in virtual reality technology, with a high-end product that’s both portable and affordable enough to market to the general public.

Wearality, located in Cary, has developed SKY, a handheld device resembling a pair of reading glasses that works with a user’s smartphone to view 3D software, games and movies, and the company appears to have the resources and industry connections to make a major splash in VR (virtual reality) this year.

Wearality has also been buying up local talent, and recently purchased VR video gaming company Frag, which produces the popular app VR Roller Coaster.

While there is no product release date for SKY, Smith is confident the product will be out “within months” and definitely “by the end of the year.” The crowdfunding campaign promises the product by October.

Meanwhile, a major VR competitor, Facebook’s Oculus Rift, is set to go on sale in 2016.

“The molding and lens are complete, so it won’t be long before we’re selling them everywhere,” Smith says.

*The Oculus Rift is slated to go on sale in 2016, not mid-2015