Quick take:
- Digital land project The Sandbox has invested $50 million in its metaverse accelerator program.
- The Animoca Brands subsidiary has partnered with startup Accelerator Brinc in a project targeting 100 startups.
- The program will back 30-40 startups per year, investing $250,000 in each startup.
Popular virtual land project The Sandbox has pumped $50 million into a metaverse startup accelerator program targeting 100 startups. The Animoca Brands subsidiary has partnered with Brinc a startup incubator based in Hong Kong.
The Sandbox’s accelerator program plans to invest in 30-40 blockchain startups a year, with each startup receiving $250,000. The program is part of Sandbox’s goals of developing an open metaverse.
Those selected for the program will have access to expert advice from various leaders in the blockchain industry, including Cathy Hackl from Futures Intelligence Group, The Sandbox’s Holly Atkinson, and Holly Liu from Kabam, among others.
Additional incentives for the top-performing projects in the program include $150,00 given in SAND token bonuses, as well as LAND grants, digital real estate within The Sandbox’s metaverse.
Commenting on the launch of the startup accelerator fund, Sebastien Borget, co-founder of The Sandbox and chairman of the Blockchain Gamer Alliance, said the program will help startups from all over the world to realize their vision and drive social impact by creating opportunities for everyone.
“We’re especially eager to support underrepresented founders in their ambitions as they explore the infinite possibilities offered into The Sandbox ecosystem,” he added.
Animoca Brands founder Yat Siu said “the open metaverse will not be owned by a single entity,” adding that it is an exciting opportunity to create an environment that encourages collaboration and participation.
On the other hand, Brinc founder and CEO, Manav Gupta issued a more practical view, highlighting the possibility that people may not need to travel to work, which could result in a significant reduction in carbon emissions.
“We may even reduce purchases of physical world products (art, collectibles, merchandise, etc.) that usually have highly unsustainable means of production and are major contributors to climate change,” he added.
The Sandbox is a digital universe created to revolutionize how the world works including how users interact socially, shop, or consume entertainment.
By launching the open metaverse startup accelerator program, it increases the possibility of realizing its goal by enabling more metaverse projects to find their place in the new virtual world.
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