With $100 million in iFund money up for grabs the iPhone tom-foolery abounds including this 3D Virtual Reality Head mount from Box Fab.

Taking advantage of the iPhone’s accelerometers to interpret head movement into the Virutal world, and using “special close-view depixelization flat optics turn the iPhone screen into a 3 dimensional window into another world” the idea definitely has its attractions.

With a tentative price set at $200 for the concept device this may well be a keeper if not for the difficulty of manipulating the multitouch functions in such a device, otherwise it’d be virtually unstoppable.