American multinational company Qualcomm has unveiled a $100 million fund in investments and grants for artificial intelligence, extended reality, and augmented reality.
SnapDragon Metaverse Fund, which is named after the firm’s Snapdragon chips, will also focus on a developer grant program in multiple niches.
The firm has announced that the beneficiaries of the grant will get an opportunity to access the Extended Reality platform, investments, marketing and hardware devices.
The microchip company is reportedly planning to integrate smartphones, virtual reality headsets, and artificial reality glasses as one XR device in the long term.
Qualcomm’s Chief Executive Officer, Cristiano Amon, says that the fund is geared towards equipping developers and firms in the new metaverse space.
Metaverse has continued to gain traction in the blockchain space, with related tokens like MANA and SAND turning in 7% and 14% weekly gains.
Extended reality is a technology that integrates artificial intelligence and virtual reality into mobile devices.