Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

Metaverse

Qualcomm Creates $100 Million Metaverse Investment Fund

San Diego-based chip supplier Qualcomm is launching a $100 million investment fund intended to support companies building out the metaverse using augmented reality, mixed reality or virtual reality.

Qualcomm hopes to broaden the market for its chips through this new Snapdragon Metaverse Fund, according to the Qualcomm Chief Financial Officer in an interview with the Wall Street Journal. The fund will begin accepting applications in June. 

Qualcomm already provides chips for virtual reality head sets and has secured a partnership with Microsoft for creating chips designed for augmented reality, generating 17% of its $10.7 billion revenue from selling chips related to the metaverse. 

An increasing number of startups have gotten funding to build out virtual world initiatives, such as firm Space Runner raising $10 million to create fashion and other wearables as digital assets. 

Prominent companies like entertainment conglomerate Disney have made moves to grow their metaverse reach, and an increasing number of firms filing trademarks related to selling items in virtual spaces.

Featured

Bitcoin Mining

Despite a $72 million rescue offer from creditors, concerns have been raised about the general viability of the Bitcoin trading community amid a protracted...

Altcoin

Ripple is attempting an upside break above the $0.365 resistance zone against the US Dollar. XRP price could fail to gain pace if it...

Bitcoin

Bitcoin price is facing resistance near $17,000. BTC could start another decline unless there is a strong move above the $17,000 resistance zone. Bitcoin...

Ethereum

Ethereum started a fresh decline from the $1,320 resistance against the US Dollar. ETH is struggling and remains at a risk of a move...