While YouTuber bkraz333 claims this contact lens with an embedded LED he made was an attempt to add a rudimentary VR display to his eye, I think I know the real inspiration behind it — Terminator cosplay.
If the thought of sticking a regular contact lens in your eye makes you uncomfortable, you might want to be prepared to skip through a few bits in this video. Because bkraz333's mod features a coil of wire attached to a ridiculously small LED embedded between a couple of soft contact lenses. And since they couldn't be glued together, he had to fuse them by pinching the edges together with a hot pair of tweezers, with results that look particularly uncomfortable to wear.
Power is cleverly provided by an induction coil held near the eye, which could theoretically be built into a pair of glasses. Although, I guess that would negate the point of building a VR display into a contact lens in the first place. So scratch that idea. In fact, scratch all of this horribly disturbing, but admittedly cool looking, ocular awfulness. [YouTube via Ubergizmo]