Microsoft has exciting plans for virtual reality and holograms. Thanks to the RoomAlive Toolkit, developers can work on their own virtual experiences. The RoomAlive Toolkit enables developers to network Kinect sensors and projectors to project interactive experiences across the surfaces of a room. The below video just gives you a taste of what you can do with this toolkit:
The most basic setup for the toolkit needs one projector linked to one Kinect sensor. Of course, you can do more with a more sophisticated setup. You can find out more about the toolkit here.