Qualcomm Puts In $100 Million For “SnapDragon Metaverse”

Microchip and multinational software behemoth, Qualcomm Incorporated has released a $100 Million fund for Metaverse to back AR, XR, and AI.
Through this fund, the organization is aiming towards a “ticket to metaverse” through its XR, 5G, and AI technology which are vital according to them.
As of this writing, Qualcomm stocks were trading at a market value of $157.61, bullish by 1.3% in the previous 24 hours.

The SnapDragon Metaverse Fund

Qualcomm, a microchip and multinational software mammoth, who also owns make system suites, SnapDragon processors, for mobile phones, basically android phones which majority of folks are using today, have released a $100 million fund for Metaverse to offer support to AR, XR, and AI technology firms.

XR or extended reality is a blend of virtual as well as augmented reality techs like glasses and headsets.

This investment project is titled as “SnapDragon Metaverse Fund” in reference to the organization’s Snapdragon chips which are customized for a long queue of devices involving smartbooks, smartwatches, computers, and smartphones.

As per the announcement made on 21st March, funding will also go towards a grant project for devs developing extended reality-focused gaming, entertainment, media, wellness, and health experiences.

Cristiano Amon, CEO, and president of Qualcomm Incorporated stated that, Via this SnapDragon Metaverse Fund, the organization is putting organizations and devs of all sizes in the middle as they go beyond possibilities as they step into this latest generation of spatial gaming.

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A Ticket To Metaverse

Organization said that they are eyeballing “ticket to metaverse” through its artificial intelligence, extended reality, and 5G techs, which the company considers as vital to Metaverse.

While Qualcomm’s official website shows that they are working towards integrating AR, VR, and smartphone techs into a single device in the upcoming future.

Organization states that extended reality is capable of replacing all other screens folks witness during day-to-day life. Mobile XR has prospects to become one of the globe’s most disruptive as well as ubiquitous computing platforms — just like present-day’s smartphones.

Organization also mentions that grant recipients will have perks like early accessibility to state-of-the-art hardware kits, an international network of investors, XR platform technology and co-marketing, as well as promotion opportunities.

While cryptocurrency has snatched limelight in association to present Russian invasion of Ukraine, it seems that folks are again showing their interest in metaverse space.

Over the previous 7 days, values of indigenous assets from top-tiered metaverse projects have increased.

In another report, BAYC founders Yuga Labs jacked up $450 during a seed funding round, marking their valuation to $4 Billion, with some element of funding set apart for development of “Otherside” metaverse supported by its recently released ApeCoin.

Interest in Metaverse is increasing day by day, as many organizations and other entities are attracted towards this space and are making investments, an example is this article in front of you.

Celebrities like Snoop Dogg have already set up their virtual world in Sandbox, and now heavy metal band A7X have shown their interest for creating their metaverse associated with their NFT collection Deathbats Club in Sandbox, as tweeted by its lead vocalist Matt Shadows.

Source: https://www.thecoinrepublic.com/2022/03/23/qualcomm-puts-in-100-million-for-snapdragon-metaverse/