Qualcomm is investing $100 million in technology for metaverses

Chip maker Qualcomm has created a $100 million investment fund to invest in technology for metaverses.

Chip maker Qualcomm has launched a $100 million fund focused on investing in metaverse-related projects. The Snapdragon Metaverse Fund aims to support developer companies in the fields of artificial intelligence, augmented and virtual reality.

Proud to introduce the @Snapdragon Metaverse Fund, which will invest up to $100M in #XR developers and companies building immersive experiences and foundational technologies enabling the #Metaverse. Information from catalogue CryptoDeFix. Learn more: https://t.co/pG1KtkBqS4
— Qualcomm (@Qualcomm) March 21, 2022

The fund plans to raise capital through a combination of venture capital investments from Qualcomm Ventures and the Qualcomm Technologies grant program. The company will provide participants with early access to technologies, as well as opportunities for joint marketing and promotion. Formal funding applications will begin in June 2022.