In General XR News
March 21, 2022 – Qualcomma global provider of semiconductors and extended reality (XR) technology, today announced the launch of the Snapdragon Metaverse Backgroundscreated to invest up to US$100 million in developers and companies creating unique immersive XR experiences, along with associated augmented reality (AR) and artificial intelligence (AI) technologies.
Qualcomm said the Snapdragon Metaverse Fund is designed to be a launch pad for XR developers and companies building the foundational technologies and content ecosystem to enable the Metaverse. The fund is also aligned with a number of industry-defining efforts that Qualcomm has developed, including a Snapdragon XR platform portfolio, the Snapdragon Spaces XR development platform, and XR Labs Europe, all to help to strengthen the XR ecosystem.
The fund plans to deploy capital through a combination of venture capital investments in leading XR companies from Qualcomm Ventures and a grant program from Qualcomm Technologies, Inc. for developer ecosystem funding in XR experiences such as gaming, health and wellness, media, entertainment, education, and business. Qualcomm Technologies has been a key contributor in all major computing evolutions, with the company providing core technologies across 5G, AI and XR – all of which are essential for the metaverse.
Commenting on the launch of the fund, Cristiano Amon, President and CEO of Qualcomm Incorporated, said, “We provide the breakthrough technology and platform experiences that will enable the consumer and business to build and engage in the metaverse and allow physical and digital worlds to connect. Qualcomm is the ticket to the metaverse. Through the Snapdragon Metaverse Fund, we look forward to empowering developers and businesses of all sizes to push the boundaries of what’s possible as we enter this next generation of spatial computing.
The company added that its Snapdragon Metaverse fund will help enable and foster innovation across the ecosystem through venture capital investments and developer ecosystem grants for content projects. Additionally, grant recipients may have the opportunity to gain early access to state-of-the-art XR platform technology, hardware kits, a global network of investors, and co-marketing and promotional opportunities. .
Applications for the Snapdragon Metaverse Fund will officially open in June. Companies and developers interested in learning more can visit qualcomm.com/metaverse-fund. For more information about Qualcomm and its extended reality technology solutions to help build the metaverse, please visit website.
Image credit: Qualcomm