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Qualcomm Launches $100 Million Metaverse Fund

Plus partnership with Square Enix to explore extended reality

Mobile device chip firm Qualcomm Technologies has revealed that it has launched its Snapdragon Metaverse Fund, a $100 million fund to invest in developers and firms that are creating “unique, immersive XR experiences”.

The Snapdragon Metaverse Fund will combine venture investments from Qualcomm Ventures and a grant programme from Qualcomm Technologies.

The fund will be used to explore extended reality experiences in gaming, health and wellness, media, and more.

“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 Inc. president and CEO Cristiano Amon.

Furthermore, funded creators may gain early access to new XR platform tech, dev kits, co-marketing opportunities, and more.

Exploring XR

In addition to the new funding, Qualcomm has revealed a partnership with Square Enix to explore extended reality experiences.

The two companies will collaborate on Snapdragon Spaces, Qualcomm’s XR platform, in a bid to “push the boundaries” of immersive gaming. Square Enix’s Advanced Technology Division will be the company’s division involved in the collaboration.

“We have been investing in XR and look forward to building on Snapdragon Spaces,” said Square Enix technical director Ben Taylor. “In particular, we think the time is right with XR to innovate on games of a classic genre we are especially known for and look forward to sharing them with the world to further our mission to help spread happiness across the globe.”

In the past, Qualcomm has partnered with Niantic to explore AR games, as well as Tencent to explore other mobile technologies.

Earlier this month, Qualcomm announced a partnership with German esports organisation ESL Gaming with the companies aiming to “revolutionise the trajectory of mobile esports”.

This article was first published on PocketGamer.biz.

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