Next to full body sensor suits, one of the main components missing from virtual reality experiences is the ability to share experiences with others.

Now a new app called vTime hopes to bridge that gap by giving users full VR character avatars that can interact with each other in virtual environments in real-time.

See also: How virtual reality will grow in 2016

All you need to engage in a vTime VR chat is a smartphone and the Samsung Gear VR headset or a Google Cardboard device.

The environments shown are fairly simplistic in terms of what we're used to from some VR experiences, but as a mobile app for virtual meetings, the demonstration video is impressive.

Among the environments shown, where up to four users can meet in VR, are an arctic campfire, a dinner party in Paris, a forest setting, a private jet in transit, a mountain climbing rig, a tropical beach and even an outside space station meeting.

Although we haven't reviewed it yet, if the demo video is anything close to the actual VR experience, the possibilities of such an app are pretty major. Imagine being able to visit with your parents in VR from the comfort of your dorm room, or take a mini vacation in Paris with a few friends from around the globe, all just a VR headset away.

Sure, the graphics aren't hyper realistic, but these are early days. It won't be long before someone develops a massive Second Life-style version of this VR construct, and then things will really get wild.

The Gear VR version of the app was launched in December, but now the company is welcoming in limited users for early access to the Google Cardboard version of the app.

Although the best way to use the app is via one of the aforementioned VR devices, you can also use it with your smartphone alone, as long as it's one of a select list, including Nexus, Samsung, LG or HTC smartphones.