Metaverse coin project The Sandbox (SAND) has announced its metaverse accelerator program, which will accelerate the development of the metaverse by investing $50 million in startups. The Animoca Brands subsidiary is partnering with venture accelerator firm Brinc to target 30 to 40 blockchain startups per year for the program.
Fund move from popular metaverse coin project
The Te Sandbox Metaverse Accelerator Program will allocate investments of up to $250,000 to each potential project and provide additional incentives to top performing projects. Bonuses include The Sandbox (SAND) coin and the digital real estate LAND in The Sandbox’s metaverse. Apart from that, top performing startups will also have access to additional investment grants and high-profile advisors.
According to Sebastien Borget, Co-Founder of The Sandbox, the program is an extension of the goal of supporting a new wave of metaverse entrepreneurs. In this way, startups around the world can bring their ideas to life. Applications have started and the first batch of investments is scheduled to continue until the second quarter of 2022. The program is run on Launchpad Luna, a collaborative effort between Animoca Brands and Brinc to support the development of startups.
The program supports metaverses that do not belong to any single entity. According to Yat Siu, Co-Founder and Chairman of Animoca Brands, the open metaverse “offers an incredible opportunity to create a participatory and collaborative zero-sum environment based on openness, equality, user management and digital property rights.” At the time of writing, The Sandbox (SAND) is changing hands at $3.32, up 1.3 percent.