The leading global technology giant, Qualcomm, has launched its Snapdragon Metaverse Fund to invest up to $100 million for development for XR technologies.
The fund aims to provide developers and companies with the necessary resources to build unique, immersive XR experiences. The initiative will foster the development of augmented reality and related artificial intelligence technologies across a range of applications.
The company will deploy the funds through a mix of venture investments in promising XR companies by Qualcomm Ventures and a grant program by Qualcomm Technologies. The focus would be on ramping up the developer ecosystem for XR experiences centered around gaming, health and wellness, media, entertainment, education, and enterprise.
“We deliver the groundbreaking platform technology and experiences that will enable both the consumer and the enterprise to build and engage in the metaverse and allow the physical and digital worlds to be connected. Qualcomm is the ticket to the metaverse,” said Cristiano Amon, President and CEO of Qualcomm.
The company has taken a significant step forward to empower developers and companies with this initiative. The capital infusion within such innovative entities will help the company stay at the forefront of the next generation of spatial computing.
The Snapdragon Metaverse Fund will indeed accelerate innovation across a variety of emerging technologies through venture investment and suitable grants for content projects. Moreover, the developers and companies will not only get the capital, but they can benefit from opportunities arising out of Qualcomm’s ecosystem. They could gain early access to cutting-edge XR platform technology, hardware kits, a global network of investors, and co-marketing and promotion opportunities.
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