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Qualcomm announces a new, up-to-US$100 million Snapdragon Metaverse Fund alongside a new XR partnership with Square Enix

Qualcomm will help Square Enix will work on new XR projects. (Source: Qualcomm)
Qualcomm will help Square Enix will work on new XR projects. (Source: Qualcomm)
Qualcomm has unveiled a new program by which it will invest as much as US$100 million in developers or companies involved in the metaverse industry. The new fund is associated with other projects including Snapdragon XR Platforms, XR Labs Europe and the Snapdragon Spaces developer platform, the latter of which has also just been taken up by Square Enix as the studio works on its extended-reality (XR) portfolio.

Square Enix has now indicated that it intends to extend what might become the next generation of its "engaging gameplay that [has] pushed the potential of new...platforms over each console generation" to the emerging fields of mixed, augmented and extended reality.

To this end, the studio has partnered with Qualcomm to start building for these disciplines using the Snapdragon Spaces XR developer's platform. It is one way in which Qualcomm has already started to establish its "ecosystem" for all things metaverse-related.

Qualcomm has also now announced that it intends to stay ahead of this game with the new Snapdragon Metaverse Fund, by which it might identify companies or developers with an output worth funneling into its existing XR resources or labs. It is geared at the creation of XR for business, healthcare and entertainment as well as gaming.

The fund might also be applied to those in the underlying augmented reality (AR) tech necessary for these "unique, immersive" products or services, not to mention the AI as necessary. The Snapdragon Metaverse Fund apparently consists of venture capital from Qualcomm Ventures and new Qualcomm Technologies grants for developers.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2022 03 > Qualcomm announces a new, up-to-US$100 million Snapdragon Metaverse Fund alongside a new XR partnership with Square Enix
Deirdre O'Donnell, 2022-03-21 (Update: 2022-03-21)