Qualcomm Launches $100 Million Fund for Giant Metaverse Investment

As Facebook directs its attention towards the metaverse, major companies are making substantial investments in augmented reality (AR) and virtual reality (VR) technologies. Notably, Qualcomm has unveiled the $100 million Snapdragon Metaverse Fund.

Adding to the ongoing momentum of metaverse investments, Qualcomm, which had introduced the Snapdragon Spaces platform for AR content development in recent months, is now inaugurating the $100 million Snapdragon Metaverse Fund.

It will offer new opportunities to developers

With the establishment of the new fund, Qualcomm aims to provide support to developers and companies engaged in the development of augmented reality (AR) and artificial intelligence (AI) technologies.

The company’s plan is to enhance expertise across various sectors, including gaming, health and wellness, media, entertainment, education, and business.

Set to kick off its first applications in July, Qualcomm’s initiative will grant developers access to cutting-edge extended reality (XR) platform technology, hardware kits, a global investor network, and co-marketing and promotional opportunities.

Cristiano Amon, the President and CEO of Qualcomm Incorporated, expressed enthusiasm for empowering developers and companies of all sizes as they explore the boundaries of spatial computing in this new era. He emphasized that Qualcomm is positioned as the gateway to the metaverse.

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