Snapchat Supports Augmented Reality- Builds $3.5 Million Funds

Snapchat declared its decision today to invest funds in order to promote its Augmented Reality capabilities further. With an estimated investment of a whopping $3.5 million, the funds will be instrumental in supporting Lens developers and creators on the platform. 

Snapchat declares its support to Augmented Reality developers and creators

The investment by the photo-messaging platform will aid with opportunities for Lens Creators. It will help the creators to connect passions with Lens and work on sponsored projects. The fund will also assist creators to partake in programs like AR Creator Residency Programme. Furthermore, the company will also upgrade to one of the most sought-after AR tools in the world, Lens Studio. 

The latest 3.3 release of Snap Inc. aims to enrich creator workflows. The company plans on achieving this by offering features that will elevate the quality of Lenses as well as save time. Moreover, it will offer the required resources and tools to professional creators. 

The daily active user-base of the app stands at 249 million. This is a jump from nearly 238 million in the last quarter. At $679 million, the company also saw a 52% increase in its revenue in its third quarter.

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