Facebook’s new $10 million fund for VR creators

Facebook has introduced a $10 million Creator Fund to encourage individuals to create experiences for its Horizon VR platform, dubbed Horizon Worlds. Although Horizon Worlds is still in beta, the firm has made it plain that it wants more people to create content for the platform so that it can provide more unique experiences for consumers.

The money will be distributed in three categories “over the next year”:

Facebook’s New $10 Million Fund for VR Creators

A challenge for the community to create “the best worlds in Horizon.” The top three competitors in each competition will receive a cash prize of up to $10,000.

A Creator Accelerator Program “intended to give people from all backgrounds an advanced crash education in Horizon Worlds creation,” according to the website. In September, Facebook completed a trial of the programme and will begin accepting applications in November for the next edition, which will open in “early” 2022.

Developers that want to create “experiences for Horizon in a certain theme” will be able to apply for funding.

Facebook’s large bet on virtual worlds could be aided by the Creator Fund. Facebook has put a lot of money into its Oculus VR headsets and ecosystem, and CEO Mark Zuckerberg has stated that he wants people to think of Facebook as a “metaverse corporation” in the future. Facebook’s Horizons Workrooms programme, which is supposed to be a VR meeting room for work, is one illustration of what it could look like.

However, while Facebook rushes to complete Horizon Worlds and entice people to create content for it, it faces fierce competition from rival metaverse creators such as Epic Games (the maker of Fortnite) and Roblox, both of which rely largely on user-generated content.

While Facebook’s Creator Fund is an important step toward ensuring that creators get compensated for their work, I hope the business invests considerably more in creators in the future. I believe it can; the $10 million invested in the fund is a drop in the bucket when compared to Facebook’s second-quarter profit of more than $10 billion. Otherwise, Horizons risks becoming another another platform where creators compete for scraps while the platform’s owner reaps the benefits.

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