Chip giant Qualcomm launches $100M Metaverse fund

Multinational bundle and microchip elephantine Qualcomm Incorporated has launched a $100 cardinal Metaverse money to backmost extended world (XR), artificial quality (AI), and augmented world (AR) tech companies. 

Extended reality, oregon XR, refers to the operation of smartphones on with AR and VR exertion specified arsenic headsets and glasses.

The concern task is dubbed the “SnapDragon Metaverse Fund” successful notation to the firm’s Snapdragon chips that are designed for a agelong database of devices including smartphones, tablets, computers, smartwatches, and smartbooks.

According to a March 21 announcement, the backing volition besides spell towards a assistance programme for developers gathering XR-focused gaming, health, wellness, media, and amusement experiences.

“Through the Snapdragon Metaverse Fund, we look guardant to empowering developers and companies of each sizes arsenic they propulsion the boundaries of what’s imaginable arsenic we participate into this caller procreation of spatial computing,” said president and CEO of Qualcomm Incorporated, Cristiano Amon.

The steadfast stated that it is aiming to beryllium the “ticket to the metaverse” via its 5G, AI, and XR technologies which it describes arsenic being captious to the Metaverse. While Qualcomm’s website besides indicates that it is aiming to harvester a smartphone, VR headset, and AR glasses into a azygous XR instrumentality successful the future.

“XR could regenerate each the different screens successful your life, similar that large TV successful your surviving room. Mobile XR has the imaginable to go 1 of the world’s astir ubiquitous and disruptive computing platforms—similar to the smartphone today.”

The steadfast besides teased that recipients of the grants volition summation “early entree to cutting-edge XR level technology, hardware kits, a planetary web of investors, and co-marketing and promotion opportunities.”

Related: Metaverse for education: How virtual world tin assistance schools and colleges

While crypto has stolen the limelight of precocious successful narration to the ongoing Russian and Ukraine conflict, it appears that involvement is starting to heap backmost into Metaverse projects.

Over the past 7 days, the prices of autochthonal assets from apical metaverse projects specified arsenic Decentraland and The Sandbox person gained 7% and 14% apiece.

On March 18, Cointelegraph besides reported that the Bored Ape Yacht nine founders Yuga Labs had raised $450 cardinal successful a effect backing circular astatine a valuation of $4 billion, with portion of the backing acceptable to spell towards the improvement of the Apecoin-backed Otherside metaverse project.