The Snapdragon Metaverse Fund is expected to be a launchpad for XR developers and companies building the foundational technologies and content ecosystem for enabling the metaverse; it has been designed by Qualcomm to facilitate and promote innovation across the complete ecosystem
Through the Snapdragon Metaverse Fund, Qualcomm will invest up to $100m in XR developers. (Credit: Qualcomm Technologies, Inc.)
Qualcomm has launched the Snapdragon Metaverse Fund for investing up to $100m in extended reality (XR) developers and companies with an objective to help unlock the next generation of spatial computing.
The funding will also be available for building associated core augmented reality (AR) and related artificial intelligence (AI) technologies, said the US semiconductor company.
The Snapdragon Metaverse Fund is expected to serve as a launchpad for XR developers and companies developing the foundational technologies and content ecosystem for enabling the metaverse.
It is said to be aligned with the company’s efforts in developing a portfolio of Snapdragon XR Platforms, Snapdragon Spaces XR Developer Platform, and XR Labs Europe.
The capital from the new fund is intended to be deployed via a mix of venture investments in major XR firms by Qualcomm Ventures. It will also be injected through a grant programme by Qualcomm Technologies for developer ecosystem funding in XR experiences that include gaming, media, health and wellness, entertainment, enterprise, and education.
Qualcomm president and CEO Cristiano Amon said: “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.
“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.”
The Snapdragon Metaverse Fund is expected to facilitate and promote innovation across the complete ecosystem.
Additionally, recipients of the funding could have the scope to get early access to cutting-edge XR platform technology, a global network of investors, hardware kits, and opportunities in co-marketing and promotion, said Qualcomm.
The chip manufacturer will officially open applications for the Snapdragon Metaverse Fund in June.
Separately, Qualcomm Technologies has entered into a collaboration with Japanese entertainment conglomerate Square Enix for exploring extended reality (XR) experiences for the latter’s global network of development studios and intellectual property.
Qualcomm said that Qualcomm’s advanced technology division (ATD) will work on the Snapdragon Spaces XR Developer Platform with an aim to boost immersive gaming experiences.