Snapchat invest $1billion in gaming and VR
Snapchat vs Instagram, who will win in the end? It’s no secret that Instagram has been taking more and more users away from Snapchat. Snapchat must have been asking themselves the questions ‘how can we change this and get ahead’.
Well, a $1billion investment into gaming and augmented reality couldn’t hurt right? Snapchat will be trying to raise $1billion as a short term debt to invest in better gaming and AR features on the app.
“We will continue to focus on developing our content, gaming, and augmented reality platforms to enhance the Snapchat experience for our community,” Snap CEO Evan Spiegel said in a memo obtained by Reuters.
Up to now, the Snapchat AR functionality has been restricted to limited face filters. However, with improvements in AR tech and people having access to smartphones that include the ‘World Lenses’, Snapchat are looking to broaden their horizons with what you will be able to do within the app.
There is nothing concrete yet, but this is an exciting time to be interested in the AR market. AR needs these large companies to invest large amounts of money to progress it to the next level. We could be seeing a tech war between Snapchat and Facebook, who have not been subtle about the fact that they are investing heavily in R&D around AR.
On top of Snapchat and Facebook in the race to advance AR, we have the likes of Apple, who keep hinting about new AR tech coming soon, and Google who are doing the same..
What are your thoughts on AR? Do you think it is the future or a technology that needs to evolve into something else? Let us know in the comments.
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