One limitation of the Oculus Rift virtual reality platform was the lack of room-scale tracking, but that has changed with release 1.15 of the Oculus App. The new version introduces full room-scale capability and improves tracking for setups with three sensors, which is required for a room-scale experience.
Full 360-degree tracking was available in 1.14 as long as you had three Oculus sensors setup, but was essentially in an experimental phase. Two-sensor 360-degree tracking is still an the experimental phase and doesn't allow full room-scale, however.
Room-scale allows those in VR to walk around their space and have movements fully recognized in all directions within the VR application. A few notable games on Oculus that benefit from room-scale are Rec Room, Onward, and Arizona Sunshine. The HTC Vive launched with room-scale capability with the tracking of its lighthouse sensors, but remains the most costly consumer VR solution.