Chip giant Qualcomm launches $100M Metaverse fund

Multinational software program and microchip big Qualcomm Included has launched a $100 million Metaverse fund to again prolonged actuality (XR), synthetic intelligence (AI), and augmented actuality (AR) tech firms. 

Prolonged actuality, or XR, refers back to the mixture of smartphones together with AR and VR expertise resembling headsets and glasses.

The funding venture is dubbed the “SnapDragon Metaverse Fund” in reference to the agency’s Snapdragon chips which might be designed for a protracted record of gadgets together with smartphones, tablets, computer systems, smartwatches, and smartbooks.

In accordance with a March 21 announcement, the funding will even go in direction of a grant program for builders constructing XR-focused gaming, well being, wellness, media, and leisure experiences.

“By means of the Snapdragon Metaverse Fund, we look ahead to empowering builders and corporations of all sizes as they push the boundaries of what’s potential as we enter into this new era of spatial computing,” stated president and CEO of Qualcomm Included, Cristiano Amon.

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The agency said that it’s aiming to be the “ticket to the metaverse” through its 5G, AI, and XR applied sciences which it describes as being vital to the Metaverse. Whereas Qualcomm’s web site additionally signifies that it’s aiming to mix a smartphone, VR headset, and AR glasses right into a single XR gadget sooner or later.

“XR might substitute all the opposite screens in your life, like that massive TV in your front room. Cell XR has the potential to change into one of many world’s most ubiquitous and disruptive computing platforms—much like the smartphone immediately.”

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The agency additionally teased that recipients of the grants will achieve “early entry to cutting-edge XR platform expertise, {hardware} kits, a worldwide community of traders, and co-marketing and promotion alternatives.”

Associated: Metaverse for training: How digital actuality may also help colleges and faculties

Whereas crypto has stolen the limelight of late in relation to the continuing Russian and Ukraine battle, it seems that curiosity is beginning to pile again into Metaverse tasks.

Over the previous seven days, the costs of native belongings from high metaverse tasks resembling Decentraland and The Sandbox have gained 7% and 14% apiece.

On March 18, Cointelegraph additionally reported that the Bored Ape Yacht membership founders Yuga Labs had raised $450 million in a seed funding spherical at a valuation of $4 billion, with a part of the funding set to go in direction of the event of the Apecoin-backed Otherside metaverse venture.

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