Qualcomm, the chip giant, has launched a 100 million Metaverse fund

Qualcomm, the multinational software and microchip giant company, has recently instigated a Metaverse fund of US 100 million dollars to help in the development of artificial intelligence (AI), extended reality (XR) and augmented reality (AR) tech companies.

The term extended reality can be new for you, but you may have already played a very popular game that applied extended reality, Pokémon Go. Extended reality refers to the amalgamation of augmented reality (AR), virtual reality (VR) and mixed reality (MR) that works with headsets and glasses.

The investment project has been dubbed as “Snapdragon Metaverse Fund” to link it to the company’s Snapdragon chips that have been designed for multiple devices, including smartphones, smartwatches, tablets, smartbooks etc.

As per the announcement delivered on Monday, the funds will be utilized to employ the developers who can build better health, media, wellness, entertainment and XR-focused gaming experiences. The CEO and President of Qualcomm, Cristiano Amon, has said that with the help of the Metaverse fund, the company is aiming to assist companies and developers of all sizes as the whole world is setting foot into a new era of spatial computing.

Through its AI, 5G and XR technologies, the company is trying to become the ticket to the Metaverse. The official website of Qualcomm is also hinting that in future, the company is trying to combine and create a device that will be the total combination of a VR headset, a smartphone and an AR glass turning it into a complete XR device.

The XR has the potential to replace all screening devices in a person’s life, including a TV. Similar to smartphones, XR Mobile has the ability to become the world’s most omnipresent and avant-garde computing platform. The company has also hinted that those who will be selected to receive this grant will be gaining early access to the cutting-edge XR platform technology as well as a global network of investors, hardware kits, promotion and co-marketing opportunities.

Because of the ongoing Russia and Ukraine conflict, the cryptocurrency had stolen the limelight for the time being, but slowly the metaverse project started gaining back the interest of the people. During the course of the last seven days, the prices of the native assets in the projects like The Sandbox and Decentraland have increased by 14 and 7 percent, respectively.

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