American multinational corporation and microchip giant Qualcomm launches funding in Metaverse worth $100 million to support tech companies related to artificial intelligence, augmented reality and extended reality. As per the sources the Qualcomm plans to use this funding toward programs for developing reality based gaming, health, media and entertainment experience.
Extended reality or XR can be defined as an alliance of smartphones along with AR and VR technology like headset and glasses.
Qualcomm named “SnapDragon Metaverse Fund” related to the firm’s Snapdragon microchips which are created for lots of devices which include smartphones, tablet PCs and smartbooks.
The Chip giant also announces to use the funding toward program developers, building XR based games, health, wellness, media and entertainment According to a March 21 announcement, the funding will also go towards a grant program for developers building XR-focused gaming, health, wellness, media, and entertainment factor.
Chip giant company Qualcomm’s CEO clears the plan of investment and says “Through the Snapdragon Metaverse Fund, we look forward to empowering developers and companies of all sizes as they push the boundaries of what’s possible as we enter into this new generation of spatial computing”.
In addition to this he also says that the company is planning to become the “ticket to the metaverse”with the help of its 5G, AI and XR technology.
Company website also says that it is planning to include a smartphone, VR headset, and AR glasses into XR in the future.
With the currently ongoing Russia and Ukraine conflict, Crypto gains lots of attraction and now that trend moves to the Metaverse project with so many ongoing investments.