Valve has updated its Steam beta client to support the Oculus Rift headset. A new mode called SteamVR reportedly consists of a "giant floating curved screen" showing the Big Picture interface that you can look around by moving your head. It's described as "experimental" and isn't fully functional, so it's not likely to replace the regular Steam interface for anyone right now. That said, it's the first step along the road to Valve fully integrating Oculus Rift and other VR headsets into its Steam experience.
The company is expected to announce a wider VR initiative at a developer event starting tomorrow. In addition to the new interface, Valve will show "what affordable virtual reality hardware will be capable of within a couple of years." That will come in the form of a software development kit providing a standardized set of tools to implement VR controls and support in their games. Some have speculated that Valve will launch its own VR hardware at the event; the company has said it will show off "a prototype which demonstrates that such VR hardware is capable of stunning experiences." If you've got an Oculus Rift and would like to try out the interface, you can follow the instructions over at the Steam Community forums.