View-Master – a popular children's toy since the 1960s – could be the next big step in affordable, commercial virtual reality following a tie-up between Mattel and Google to create a new iteration of the device based on VR using smartphones.

The original View-Master used a thin cardboard disk with seven small colour photographs on film. When looked at through a viewfinder, the stereoscopic image would create the illusion of a 3D scene.

The modern era version of the near 77-year-old technology does away with the original format, instead using a smartphone placed inside a plastic headset to create a virtual image, taking much inspiration from Google’s cardboard VR headset. The new View-Master still uses a reel, this time however with only a QR code in the centre. When inserted into the device, the smartphone recognises the code and produces the correct scene.

Paired with a View-Master app, users will be able to see 360-degree scenes, looking in any direction at the sights of various world landmarks. In addition to the 360º panoramas, the new version of the View-Master will be able to show 3D models, while users will also have access to VR mini-games.

The product’s commercial launch – targeted primarily at children – came on 1 December but beyond that the device offers many applications to the attractions industry, which is currently searching for its preferred choice in the increasingly competitive virtual reality market. The simpler version could provide a cheap alternative to more advanced headsets currently under development, such as Microsoft’s Hololens, Samsung’s Gear VR and the Oculus Rift. The established brand name could also prove a hit, with a Mattel tie-up likely to appeal to families and nostalgic older audiences.

The View-Master is available now, with current content on offer including scenes by National Geographic and NASA. The device retails at US$29.99 (€28, £20).