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Qualcomm Announces New Snapdragon Metaverse Fund

Qualcomm Announces New Snapdragon Metaverse Fund

Qualcomm has unveiled a new program in which it is investing US$100 million in developers and companies involved in the Metaverse industry.

The new fund is linked to other projects including the Snapdragon XR platforms, XR Labs Europe and the Snapdragon Spaces developer platform, the latter of which has also just been taken over by Square Enix as the studio works on its augmented reality (XR) portfolio. Square Enix has partnered with Qualcomm to begin development for these disciplines using the Snapdragon Spaces XR developer platform. This is one of the ways that Qualcomm has already begun building its “ecosystem” for everything related to the metaverse.

The fund can also be applied to those who use the underlying augmented reality (AR) technology needed for unique products or services, not to mention artificial intelligence if needed. The Snapdragon Metaverse Fund appears to be comprised of venture capital from Qualcomm Ventures and new Qualcomm Technologies developer grants.

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