Qualcomm made two announcements on Monday morning, one launching a $100 million metaverse developer fund and the other revealing a gaming collaboration with Japanese publisher Square Enix. Considered in tandem, the moves show Qualcomm putting its money where its mouth has been—first expanding its focus to include software and developer tools for AR, VR and the metaverse, and now investing in and incentivizing their use.
The $100 million for what will formally be known as the Snapdragon Metaverse Fund is split between venture investments and grants targeting opportunities across “gaming, health and wellness, media, entertainment, education, and enterprise,” according to a company release. Companies building out “core” AR tech and relevant AI tech will be able to get in on the funding too, according to the announcement, meaning we’ll likely see the money go to apps and experiences built atop Qualcomm’s Snapdragon Spaces software, as well as to tools that can extend that program’s capabilities.
