Facebook’s Oculus VR is one of the most iconic companies in the VR industry. It helped kickstart the revolution and is doing its part to continue pushing the industry forward. Today at Oculus Connect 3, Facebook CEO Mark Zuckerberg announced on stage that the company had invested $250 million in funding Oculus content.
The topic of exclusivity is still a hot button issue in the industry, with the debate between Oculus Home and the Steam marketplace. Whether or not you agree with the concept of VR software exclusives, there’s no doubt that Oculus’ commitment to funding projects is helping spur VR’s rapid rise as of late.
Following this announcement, Zuckerberg also announced that they are planning to inject at least another $250 million in funding for Oculus content creators as well. The VR company also announced a new education section will be added to Oculus Home for better sorting and emphasis on content.
Oculus’ Nate Mitchell then also announced that the company will cover Unreal Engine licensing fees for developers that earn up to $5 million in revenue. And finally, they company also announced that $10 million would be dedicated to diversity-based projects.
Stay tuned at UploadVR for all of the latest news and updates from Oculus Connect 3. You can read more about their upcoming Social VR plans here.