Chipmaker Qualcomm to start investing in metaverses
The company will fund promising projects and successful developers
24.03.2022 - 08:00
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What’s new? Qualcomm, a US chipmaker company, has announced the creation of the Snapdragon Metaverse fund to make investments in technologies related to metaverses. There is $100 million earmarked for this direction.
What else is known about the fund? Qualcomm CEO Cristiano Amon stated that the fund’s capital will be raised through venture capital investments and Qualcomm’s grant program. The companies and developers will be able to apply for funding in June 2022.
Amon stressed that the fund plans to expand developers’ resources and support them in expanding the boundaries of possible reality.
Previously, the analysts at Grand View Research predicted the growth of the metaverse market to $600 billion by 2030. In their view, metaverses will become a major part of the entertainment industry in the future.
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