The Oculus Rift virtual reality headset is due for launch in the first quarter of 2016, and one of the games that is being made exclusively for the device is Rock Band VR. The game is based on Harmonix's long running music game franchise.
Rock Band VR was announced via a tongue-in-cheek trailer where Oculus founder Palmer Luckey and Harmonix team members got lessons on how to be a rock star from members of the metal band DragonForce. The end of the trailer showed a little bit of gameplay which would indicate that players will indeed feel like they are on stage. There's no word on when the game will be released.
Source: Harmonix (YouTube)