I've been working a lot lately on VR 360° scenes and animations.
The big problem with this kind of stuff is about the huge resolution needed to achieve a good user experience and consequently very long render times using path-tracing engines, acceptable for a single frame, problematic for entire animations.
Blender comes with a real time render engine called Eevee with blazing fast render times and indeed a good quality though not photorealism (it's an SSR render engine). Unfortunately this engine does not support panoramic equirectangular render (180° or 360°) at the moment so I managed to get around this limitation with an addon.
All the scenes and animations in this page are rendered with my addon in Blender Eevee, with a big saving in render times obviously sacrificing a little photorealism.
Depending on the need and the type of application it can be a real deal.