Now that the Oculus Quest 2 has been released and is selling well, there is a good chance that a third generation Quest is on the horizon. However, Facebook, which owns the Oculus brand, is unlikely to release the Oculus Quest 3 anytime soon.

However, Facebook CEO Mark Zuckerberg said during a recent earnings call that the company "continues to work on new hardware. New hardware is something that will fit into the same platform," he said. Zuckerberg further stated that Facebook wants "content that runs on Quest 2 should be forward compatible," which suggests that the social networking giant plans to make more Quest headsets in the near future.

Given that the Oculus Quest 2 is our pick for the best VR headset you can buy right now, we're eager to see the Oculus Quest 3. Information is thin here, so much of what lies ahead is speculation for the time being. But here's what we know and hope for with Oculus Quest 3 so far.

Given that Quest 2 came out in the fall of 2020, we don't expect Oculus Quest 3 to arrive in 2021. 2022 at the earliest could be the target for release. However, we would not be surprised to see it appear in 2023.

The Quest 2 still has plenty of life left in it and appears to have a 120Hz refresh rate upgrade available. So it should still have enough features to remain relevant for a year or two.

The Quest 2 is priced at $299 for the 64GB model and $399 for the 256GB model. Both sell very well. For more information, check out our article on where to buy the Oculus Quest 2. As such, the Oculus Quest 3 will likely be a direct replacement for the previous model while maintaining the same price point.

Ideally, we would like to see it come in at a slightly lower price to open up the world of virtual reality to others. However, it is unlikely that Quest 3 will ever go below $250.

The most obvious spec that the Oculus Quest 3 will have is a 120Hz display by default. The current Quest 2 can support a 120 Hz refresh rate, but it requires an app to upscale content to do so. The ability to get a fast refresh rate right out of the box will be very appreciated, especially by those who may suffer from motion sickness when using VR headsets.

Aside from that, we can expect an upgraded chipset, probably from Qualcomm. This could be a custom silicon rather than an off-the-shelf chipset.

Improved battery life would also be an advantage. Also on our wish list is a cable included in the box to connect the Quest 3 to a gaming PC, rather than an expensive optional item.

We were very impressed with the Oculus Quest 2, but there is still room for improvement in Quest 3. Here is what we would like to see.

Rechargeable controllers: each of the Quest 2 controllers relied on a single AA battery and could run for about 30 hours. Not bad, but a USB-C rechargeable battery pack would be more environmentally friendly and beneficial.

Enhanced hand tracking: The hand tracking on the Quest2 was a bit finicky and not intuitive, so improved hand tracking would be appreciated on the Quest3.

Higher refresh rate: 120Hz refresh rate is great, but I would like to see a refresh rate of 144Hz or higher for super smooth VR games and experiences.

More Oculus apps: The Oculus store has no shortage of VR apps and games, but we always want to see more. Games that offer a truly immersive VR experience, rather than arcade-like action, would make Quest 3 stand out from its predecessors.

The success of Quest 2 means that Facebook can be a winner simply by improving Oculus Quest 3. Ideally, we would like to see Facebook push things further on both the hardware and software fronts.

By offering an all-in-one VR system that can provide a truly immersive virtual experience, the still reasonably niche world of virtual reality could become increasingly mainstream, with more apps and games to feed our greedy eyes and hands.