Qualcomm launches $100m Snapdragon Metaverse Fund - Main 1

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Described by Qualcomm as the “ticket to the metaverse”, the new $100 million fund encourages VR and AR developers to join the rush and get to work creating immersive content to serve a range of markets

Quick read

➨ Qualcomm has launched a new fund worth $100 million to invest in VR and AR developers creating immersive content for the Metaverse
➨ The Snapdragon Metaverse Fund will back VR and AR developers creating gaming, health and wellness, media, entertainment, education, and enterprise content, as well as associated core AR and AI technologies
➨ The fund opens to applications in June

The story

Qualcomm has launched a new fund worth $100 million to invest in virtual and augmented reality (VR and AR) developers creating immersive content for the Metaverse.

The Snapdragon Metaverse Fund will back VR and AR developers creating gaming, health and wellness, media, entertainment, education, and enterprise content, as well as associated core AR and artificial intelligence technologies.

The Snapdragon manufacturer will invest up to $100 million directly in developers via its Ventures business, while making grants available to the VR and AR developer ecosystem.

Recipients will also gain access to technology, hardware kits, a global network of investors, and co-marketing and promotion opportunities.

The Snapdragon Metaverse Fund opens to applications in June.

Cristiano Amon, president and chief executive officer of Qualcomm, 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.”

Qualcomm has also forged a partnership with video game company Square Enix to explore the development of AR content based on its intellectual property.

As part of the partnership, Square Enix will work on Snapdragon Spaces, a developer platform designed to give developers the tools they need to create immersive content for AR glasses.

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Image: Qualcomm

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