Qualcomm Bets on Extended Reality as It Launches $100-Million Metaverse Fund

Qualcomm is the most recent tech big to have joined Apple, Google, and Microsoft in betting its cash on prolonged actuality (XR). The US-based chipmaker has launched a Snapdragon Metaverse Fund of $100 million (roughly Rs. 760 crore). XR is an rising know-how that mixes augmented actuality (AR) and digital actuality (VR) that may be packed in {hardware} such as smartphones, headsets, and good eyewear. The funding might be spent on a grant programme for builders contributing in XR-backed gaming, media, and well being reforms.

As a part of its future roadmap, Qualcomm plans to make its Snapdragon chipsets the “ticket to the metaverse” for smartphone gamers. The San Diego-headquartered firm might be powering XR know-how with 5G and synthetic intelligence (AI).

“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,” said Qualcomm President and CEO Cristiano Amon.

The corporate has referred to as AI, XR, and 5G “critical” to the metaverse. In a nutshell, metaverse might be defined as a totally purposeful digital universe. It is constructed on blockchain networks and is expected to achieve a market cap of $800 billion (roughly Rs. 59,58,719 crore) by 2024.

“As we enter the new era of spatial computing, the Snapdragon Metaverse Fund will help enable and foster innovation across the entire ecosystem. Recipients may have the opportunity to gain early access to cutting-edge XR platform technology, hardware kits, a global network of investors, and co-marketing and promotion opportunities,” Qualcomm’s assertion added.

In December 2021, the chipset maker unveiled its new prolonged actuality platform referred to as the Snapdragon XR2 platform. Qualcomm says it is the world’s first 5G-supported platform that may harness the capabilities of XR.

In latest occasions, a number of tech giants together with Meta, Microsoft, Apple, and Google have joined the race to the following part of digital actuality.

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