Qualcomm Bets on Prolonged Actuality 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 expertise that mixes augmented actuality (AR) and digital actuality (VR) that may be packed in {hardware} similar to smartphones, headsets, and sensible 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 expertise with 5G and synthetic intelligence (AI).

“By way of the Snapdragon Metaverse Fund, we stay up for empowering builders and firms of all sizes as they push boundaries of what’s doable as we enter into this new era of spatial computing,” said Qualcomm President and CEO Cristiano Amon.

The corporate has known as AI, XR, and 5G “crucial” to the metaverse. In a nutshell, metaverse may be defined as a totally useful digital universe. It’s 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 brand new period of spatial computing, the Snapdragon Metaverse Fund will assist allow and foster innovation throughout your entire ecosystem. Recipients might have the chance to achieve early entry to cutting-edge XR platform expertise, {hardware} kits, a worldwide community of buyers, and co-marketing and promotion alternatives,” Qualcomm’s assertion added.

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

In current occasions, a number of tech giants together with Meta, Microsoft, Apple, and Google have joined the race to the subsequent section of digital actuality.

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