The release of the rebranded "Project Morpheus" is finally looking more solid as recent reports say that the PlayStation VR system will be presented at an event later this month.

According to Mirror, Sony recently announced that it will be present at the upcoming Game Developers Conference 2016. The Japanese tech giant also said that it will be showcasing the PlayStation VR at the said event, so fans may expect details such as how the system works, its pricing, and global release dates.

The Game Developers Conference will be held on March 15 in San Francisco.

The upcoming announcement will put to rest speculations about the upcoming VR system, since Sony itself will be the one to provide details about the new virtual reality headgear. Some of the previous speculations touched on how the system itself will work, as well as the pricing, particularly now that HTC has announced the pricing and purchase details of its upcoming Vive VR headset. Another competitor, the Oculus Rift, also has its price already revealed.

Meanwhile, since the announcement was made, observers have found leaks about the PlayStation VR. According to Digital Trends, one interesting feature that the upcoming PlayStation VR may provide is Cloud gaming. Reportedly, a patent application filed by Sony for the PlayStation VR system talks of a digital glove to be used with the VR system, and the patent mentions cloud gaming.

Forbes added that the patent looks to be Sony's own take on an already existing accessory, Nintendo's PowerGlove. According to the industry follower, while the PowerGlove unfortunately didn't make it as a popular controller, Sony's reported "digital glove" may be a good controller for the Playstation VR.