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Qualcomm bets on Metaverse with a new $ 100 million investment fund

Qualcomm bets on Metaverse with a new $ 100 million investment fund


Qualcomm has set up a $ 100 million fund to invest in virtual and augmented reality technologies to help Metaverse jump start.

San Diego’s wireless technology company announced an initiative called the Snapdragon Metaverse Fund on Monday. This reflects other funds that Qualcomm has created over the years to advance emerging technologies that are leaving a mark. One example is the $ 100 million Qualcomm Ventures Artificial Intelligence Fund created in 2018.

The company plans to roll out the Snapdragon Metaverse Fund by investing in virtual and augmented reality companies through Qualcomm Ventures’ Corporate Venture Capital division.

We will also establish a funding program for software developers creating virtual and augmented reality content in areas such as gaming, health and wellness, media, entertainment, education, and business content. The application for the Snapdragon Metaverse Fund will officially begin in June.

What is the Metaverse? In general, it’s a virtual world where users can interact digitally as they would in the real world. Augmented reality and virtual reality are part of the Metaverse. The most common application so far is games. However, its potential uses span different disciplines and interests.

Virtual reality allows consumers to take a realistic virtual tour of their home for sale or virtually explore the hotel before booking. They may get multiple camera angles at sporting events. Augmented reality glasses allow foreign travelers to translate signs and menus as they walk around the city, and repair workers can superimpose instructions on the glasses to repair the equipment.

Qualcomm offers the core technologies essential to the Metaverse, including 5G connectivity, artificial intelligence, virtual / augmented reality processors and software. For quite some time, we have provided chips and software to top virtual reality headset manufacturers. This technology extension is an important part of Qualcomm’s efforts to diversify its business beyond smartphones.

Qualcomm CEO Cristiano Amon said in a statement, through the Snapdragon Metaverse Fund, the power to push the boundaries of what developers and businesses of all sizes can do to enter this new generation of spatial computing. I’m looking forward to giving.

Learn more about the Snapdragon Metaverse Fund.




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