Qualcomm bets on the metaverse with a $100-million investment fund

Snapdragon Metaverse Fund aims to jumpstart virtual reality and augmented reality outfits toward creating foundational technologies and content for the metaverse.\r\n•

In broad terms, it’s a virtual world where users can interact digitally as they would in the real world. Augmented and virtual reality are part of the metaverse. The most common application for now is gaming. But the potential uses span a range of fields and interests.

Using virtual reality, consumers could take lifelike virtual tours of homes for sale or wander through hotels virtually before booking. They could get multiple camera angles at sporting events. Augmented reality glasses could translate signs and menus as overseas travelers stroll through town, or they could overlay instructions on glasses for repair crews fixing equipment.

Qualcomm supplies core technologies critical to the metaverse, including 5G connectivity, artificial intelligence and virtual/augmented reality processors and software. It has supplied chips and software to top virtual reality headset makers for quite a while now. Expansion of this technology is key piece of Qualcomm’s efforts to diversify its business beyond smartphones. At January’s CES in Las Vegas,to expand mobile technologies beyond smartphones and deeper into cars.

“Through the Snapdragon Metaverse Fund, we look forward to empowering developers and companies of all sizes as they push boundaries of what’s possible as we enter into this new generation of spatial computing,” Qualcomm Chief Executive Cristiano Amon said in a statement.

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