Meta has announced a new initiative aimed at bolstering the virtual reality (VR) development ecosystem by launching a "multi-million dollar" XR Development Fund. This fund is designed to support newly formed studios working on VR projects, providing them with the necessary financial backing to bring their innovative ideas to life. The announcement has sparked interest among the VR development community, with many seeing it as a significant opportunity for growth and exposure. Additionally, Oculus Publishing's Ignition program is specifically targeting teams building for the upcoming Quest 3, further highlighting Meta's commitment to advancing VR technology and content.