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.