Oculus Rift CV1 (Consumer Version 1) is the first consumer virtual reality headset from Oculus, released in March 2016. It requires a powerful gaming computer to run, and as of December 2016, uses the Touch hand controllers for input, or optionally uses an Xbox controller.
It is in every way an improved product from the Oculus Rift DK2 (Developer Kit 2), with improved optics and ergonomics, integrated headphones, a wider tracking area, and easier-to-use software.
It currently uses the Oculus Remote for non-game experiences, the Xbox One controller for seated games, or Touch for standing or room-scale games. The Touch controllers are the most advanced VR input devices we have at The Garage. They allow for hand presence, meaning they model your hand in VR. This is possible because its buttons have capacitive sensors, so it knows if you are simply touching the buttons or actually pressing them. In VR, you can easily give a thumbs up, point, or make other gestures with Touch.
Compared to the HTC Vive, it has a smaller play space in the VR Lab. The Vive has about 14 by 14 feet of dedicated space, while the Rift has around 9 by 9 feet to move around in. Still, it is capable of running all the room-scale games that the Vive can run through SteamVR, and it also has many exclusive games through Oculus Home.