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qualcomm metaverse 

Qualcomm Launches $100M Metaverse Fund

The metaverse can be defined as a simulated digital environment that uses augmented reality (AR), virtual reality (VR), and blockchain, along with concepts from social media, to create spaces for rich user interaction mimicking the real world. qualcomm metaverse 

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Qualcomm Incorporated announced the launch of the Snapdragon Metaverse Fund, established to invest up to $100 million in developers and companies building unique, immersive XR experiences, as well as associated core augmented reality (AR) and related artificial intelligence (AI) technologies. qualcomm metaverse 

The fund plans to deploy capital through a combination of venture investments in leading XR companies by Qualcomm Ventures and a grant program by Qualcomm Technologies, Inc. for developer ecosystem funding in XR experiences such as 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 Incorporated. “Through the Snapdragon Metaverse Fund, we look forward to empowering developers and companies of all sizes as they push boundaries of what’s possible as we enter into this new generation of spatial computing.”

Qualcomm Technologies has been a key contributor in every major computing evolution and is a leader in core technologies such as 5G, AI and XR – all of which are critical to the metaverse. As we enter the new era of spatial computing, the Snapdragon Metaverse Fund will help enable and foster innovation across the entire ecosystem through venture investment and developer ecosystem grants for content projects.  In addition, recipients may have the opportunity to gain early access to cutting-edge XR platform technology, hardware kits, a global network of investors, and co-marketing and promotion opportunities.

However, the chip giant’s work on the metaverse and XR doesn’t stop there. Just last month, it unveiled ambitions to open six XR labs in Europe before broadening the push to more facilities, and at the time it shared a vision to turn XR into the “future of mobile computing.”

It also started 2022 with a partnership with Microsoft on accelerating the adoption of AR as a means to create the metaverse. The two will jointly work on developing custom AR chips for “power efficient, lightweight AR glasses to deliver rich and immersive experiences.”

In its most recent move, Qualcomm described 5G, AI and XR as “critical to the metaverse”:  Now all of these elements need to come together and be widely available if the increasingly hyped, immersive and experience-heavy world is to become a reality for the many and not just the few.

Companies and developers who are interested to learn more can visit qualcomm.com/metaverse-fund. Applications for the Snapdragon Metaverse Fund will officially open in June. qualcomm metaverse 

 

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