My friend told me a while ago about a kind of glasses that use blinking LED to induce relaxation, treat insomnia, boost creativity, etc. So I looked it up and, finally, I went to give it a try there. That was great! The glasses are from the company Psio based in Belgium. You can actually order them from Amazon for the same price than the Oculus. The thing is that it seems you can totally reproduce the concept within the rift. Right? I tried this out lately and the results are pretty impressive. It (the light and the sound) really induces the player into a meditative state. Note that the player should close his eyes to fully enjoy the trip but can also keep them opened. Because it doesn't deliver pictures, images, video, etc, but only color pattern (LED simulated strobe lights), the brain seems to create all kind of noisy artifacts, which is not without reminding the psychedelic experience.
If you are into it, there is a bunch of scientific articles on the subject here.
Stay tuned, download links will pop-up pretty soon (see update below)!
UPDATE: Are you ready for a journey into your psyché? Here is the download link! (You can find versions for Mac Os & Linux on the downloads page)
Note that the Oculus Rift experience is NOT recommended to people suffering from photosensitivity and/or epilepsy.