Extended reality is the umbrella term for all variations of spatial computer interactions, including VR, AR, and MR. XR is often interchangeably used with immersive media or spatial computing.
Virtual reality creates an artificial three-dimensional environment for interaction. Virtual reality is as unlimited as the human imagination and has been the subject of sci-fi pop culture.
Augmented reality is an information layer over the existing physical world. AR is used with mobile phones or tablets as handheld AR or via headsets as AR headsets or glasses, to assist in a real-world context. AR typically uses cameras for environment tracking, to enable interaction with overlaid or embedded digital objects in the users' surroundings.
MR can be used interchangeably with AR
MR can describe the merging of the two technologies VR and AR on a device basis
MR is also the name of a capture technique using a green screen and virtual cameras (e.g., with the Unreal engine)