Virtual reality has so many applications beyond just games and boob-grabbing simulators -- you can also use it to make wonderful 3D art.
Above is the trailer for Tiltbrush -- a prototype VR painting simulator made by Skillman & Hackett. Not only does it let you paint virtually in 3D, it even lets you paint with giant swaths of light and smoke. It's like a weird fusion of Rez and The Joy of Painting with Bob Ross. I'm not sure what's more impressive: the concept, the fact it's VR or the cool-as-heck floating interface.
The creators also say you'll be able to export your creations as GIFs like this:
You can get more info about Tiltbrush over at their site.