Facebook Launches $100 Million Creator Fund for VR

Facebook now focuses on virtual reality (VR). The platform started innovating new VR business tools such as the “Horizon Workrooms.” They are virtual rooms where members of a team can collaborate in real-time. A new Oculus 2 VR Headset is also coming that allows VR ads. Today, Facebook launches a $100 million Creator Fund for VR.

Last year, Facebook beta-tested Horizon. It is an invite-only social experience where VR creators can create, explore, and play. Today, Facebook is giving it a new name – Horizon Worlds. Together with the new name, Facebook launches a $100 million Creator Fund for VR. It aims to encourage creators to innovate using virtual reality. The $100 million Creator Fund for VR will be divided into three major areas.

  • Facebook’s Accelerator Program. It is the 3rd Facebook Creator training to kick off by early 2022. 
  • Facebook Community Competitions. It is a program that will reward $10k cash for the top 3 virtual reality innovators. 
  • Facebook Developer’s Fund. It is a grant for Facebook creators and developers who want to enter into partnership for a particular Horizon World experience. 

Interested creators and developers can sign up here to get notified about any updates.

Facebook launches a $100 million Creator Fund for VR on 07 October 2021.

Implications for Marketers: 

Facebook’s $100 million Creator Fund for VR is Facebook’s next shift to an innovative social experience. For marketers, such innovations can expand opportunities for eCommerce and online shopping.

Reference: https://about.fb.com/news/2021/10/expanding-horizon-new-funding-to-support-creators/

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