Qualcomm has this week announced an investment of $100M in to a new Snapdragon Metaverse Fund which will be looking to invest the money into development companies building “unique, immersive XR experiences”. Together with companies developing core augmented reality (AR) and related artificial intelligence (AI) technologies.
The Snapdragon Metaverse Fund has been created to distribute 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.
Qualcomm Snapdragon Metaverse Fund
“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.”
Source : Qualcomm