Here is a real life video of IBM executives in Japan, as well as gifted engineers, embracing the Sword Art Online VR project. According to our esteemed fearless leader Niero, the tech is fairly rudimentary, with cheap VR headsets and an updated Leap controller strapped to cardboard. It looks cool in theory though!
In the video below you can basically see how it works, with VR stations, a headset, and in-game commands for things like wave emotes and sword-based combat. Sadly, this is still just a tech demo at the moment.