Apple CEO Tim Cook has called AR the “next big thing” and the iPhone maker is reportedly working on a headset. Facebook, Microsoft, Google and other technology companies are all investing in augmented reality too.

Xu said he welcomes the competition from these titans. “I think the best product will win,” he said.

Nreal has its own operating system called Nebula that runs on its headsets. Like Apple with iOS on iPhones, developers can make apps for Nebula which people can then use via Nreal headsets.

Having compelling apps on AR headsets will be key to their success and Nreal is trying to lure developers onto Nebula. The company currently has 8,000 developers on the platform.