Immersive multimodal media increasingly offer virtually realistic experiences, which can be harnessed for a wide variety of industrial, medical/psychological and recreational purposes. With special attention to notions of “reality” being a perceived and experienced world informed by our senses and actions across the lifespan, we review the fundamental scientific evolution of this multidisciplinary field. Using neuroscientific principles, in this panel we debate inherent value added and challenges of differing paradigms to consider in future health-care and educational endeavours.