Qualcomm starts $100 million Metaverse Fund

Qualcomm Incorporated recently launched the Metaverse Fund with $100 million to invest in extended reality (XR), artificial intelligence (AI), and augmented reality (AR) tech companies.

Qualcomm starts $100 million Metaverse Fund

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Qualcomm Incorporated recently launched the Metaverse Fund with $100 million to invest in extended reality (XR), artificial intelligence (AI), and augmented reality (AR) tech companies.

The concept of extended reality, or XR, refers to the blending of AR and VR via headsets and glasses, as well as smartphones.

"SnapDragon Metaverse Fund" takes its name from the chip maker's Snapdragon processors, which are used in a long list of products, such as smartphones, tablets, computers, smart watches, and smartbooks.

A March 21 announcement states that the funding will also support a grant program for developers creating XR-related experiences in the gaming, health, wellness, media, and entertainment sectors.

Qualcomm CEO Cristiano Amon said, "We are excited to empower developers and companies so that they can push the boundaries of what's possible as we enter a new age of spatial computing with the Snapdragon Metaverse Fund."

By implementing 5G, artificial intelligence, and augmented reality technologies, the company plans to be the "ticket to the metaverse." Additionally, Qualcomm's website suggests that the company intends to combine smartphones, VR headsets, and augmented reality devices into a single XR device in the future.

A large screen like that in your living room could be replaced with XR. A platform like Mobile XR could become one of the world's most ubiquitous and disruptive computing platforms, similar to what smartphones do today.

Moreover, recipients of the grants will have early access to cutting-edge XR platform technology, hardware kits, a global investor network, and opportunities for co-marketing and promotion