Sorry if a repost, I ran a quick search and yielded no results.
If you happen to own a Vita, like myself, and have been living under a rock for the past 10 days or so then rejoice! For we now have - Henkaku!
What is Henkaku? Why should you care?
(copied from Google)
"Henkaku is the first ever homebrew enabler for PS Vita and PSTV. It is akin to jailbreaking your iPhone or rooting your Android device. Homebrew are games and other software not officially approved. For example, VitaDoom is a port of the classic game DOOM and mGBA lets you play Game Boy Advance ROMs."
Why should you care?
Well, it means in the near future native emulators and homebrew are going to explode, there is already a ton of buzz and people going bananas over on the subreddit.
Note: A few emulators as of this post are already up and running, but most of them still suffer performance issues such as fps drops or audio stutters.
Vita hacking has been a thing for a while now, why the sudden interest?
The short answer to this is Henkaku makes it much easier than before and also opens the door to further exploits and possible developments. In a nutshell, it's exciting to own a vita - for once!
Another side note for those new to this sort of thing, you can also change your theme and BGM. You can check the subreddit I linked earlier for help/make a request or check this guide. Wololo has a lot of useful resources and updates often, so you can browse around if you're interested.
I just wanted to make this post so people were aware, who may not follow the homebrew scene. Don't be intimidated, it is incredibly easy and there is virtually zero drawbacks (unless you actually care about your warranty) but you must also remember it's still in it's infancy.
The horizon is golden my friends.