This unusual contraption is called the Avegant Glyph. It is not a VR headset. Instead it simply places a large (perceived) display in front of your eyes for your favorite multimedia including games, movies etc. It pairs this concept with a full-fledged set of over-ear headphones to create a very unique experience.
From the manufacturer –
Glyph is the world’s first personal theater designed with lightweight portability, rich audio, and amazingly clear video. Stop watching—start seeing and experiencing your content in vivid detail. You’ll feel like you’re watching a 60-inch TV, wherever you are.