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Qualcomm Sets Up $100M Fund for Metaverse Investments

The fund will target developers building immersive extended reality (XR) experiences in areas such as gaming, health, education and entertainment.

By Jamie Crawley
AccessTimeIconMar 24, 2022 at 12:40 p.m. UTC
Updated May 11, 2023 at 4:10 p.m. UTC
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Technology giant Qualcomm (QCOM) has set up a $100 million fund to invest in developers and companies building metaverse infrastructure.

  • The Snapdragon Metaverse Fund is designed to help unlock the next generation of spatial computing, Qualcomm announced on Monday.
  • The fund will target developers building immersive extended reality (XR) experiences in areas such as gaming, health, education and entertainment.
  • Capital will be deployed via a combination of grants and investments from Qualcomm Ventures, the firm's venture capital arm.
  • Metaverse infrastructure development crosses paths with the crypto industry due to the involvement of blockchain and decentralized applications and the use of digital currencies as a means of payment within it.
  • The metaverse is a conceptualized world of immersive and augmented reality where the internet is used as virtual space for work, play and socializing. It has received significant interest since Facebook changed its name to Meta (FB) in October last year to reflect its growing focus on this area.
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    Jamie Crawley
    Jamie Crawley

    Jamie Crawley is a CoinDesk news reporter based in London.

    Follow @JamieCrawleyCD on Twitter

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