The third-person perspective, as it relates to video games, provides a first-person perspective, such as the advantages of a broader field of vision, while the first person has a deeper immersion interest. If you can take this step back to your own life and see it all, just like you just stood behind yourself. We may soon see this picture, thanks to the Polish 3D high-tech education company called MEPI. MEPI has created a prototype device that allows wearers to view the Third Person Perspective (TPP) world through an Oculus Rift headset - as if they were playing a game. The rig itself acts as an arm that is worn as a backpack and extends with the wearer's head. In this arm, two cameras are mounted behind the top of the wearer's head and video is sent directly to the Oculus Rift in real time, allowing the wearer to look at the surrounding controls through the joystick - although we can imagine that future iterations could make the devil Ring's motion sensor using Rift. 
Before this point it may need a little streamlined. At the moment, it needs a backpack to carry the equipment it is running on, but it is certainly an interesting concept, because virtual reality is usually used to provide a first-person perspective in a virtual world, rather than a third-person in reality.