Qualcomm, a microchip and multinational software giant, has recently launched a $100 Million metaverse fund to back artificial intelligence, extended reality, and augmented reality tech companies. For the uninformed, extended reality consists of the combination of smartphones along with several modern technologies such as AR and VR through glasses and headsets.
This project of investment has been dubbed the SnapDragon Metaverse Fund– in reference to the chips of the firm that have been designed for a vast majority of devices. The devices include computers, tablets, smartphones, and the like.
Qualcomm Has Decided To Spend $100 Million on Metaverse
According to an announcement that took place on Monday, the funding from Qualcomm will go a long way towards facilitating a grant program for most developers that have been focused on health, XR-focused gaming, wellness, media, and other purposes of entertainment. Through this Snapdragon Metaverse Fund, the company had been looking towards empowering developers around the world to start striving beyond the boundaries of what was deemed possible- as more and more individuals entered the new generation of spatial computing.
Qualcomm has been pretty clear that it has been aimed to be the main ticket that would pave the way towards the metaverse, through its AI, 5G, and XR technologies, which is usually described as being quite critical to the conception of the Metaverse. The website of the firm has also indicated that it had been aiming towards combining a VR headset, smartphone, and AR glasses into a single XR device for the future.
Qualcomm also mentioned that the recipients of this grant would definitely be gaining major access to cutting-edge XR platform technology, hardware kits, an investor base that was spread throughout the world, and promoting opportunities.