The Sandbox has launched a Metaverse acceleration program to develop potential startups, and a 50 million dollar fund is part of it.
The Sandbox has announced a Metaverse acceleration program that will accelerate the development of this revolutionary technology. The project will invest up to $ 50 million in several startups to do this. Animoca Brands collaborates with Brinc to cover 30 to 40 companies per year.
Sandbox Metaverse Program will pay up to $250,000 for each possible initiative and additional incentives for the best-performing ones. Digital assets and virtual property in the Sandbox metaverse are included as a bonus for participants. In addition, the most successful startups will also have access to further investment grants and the expertise of well-known experts.
According to Sebastien Borget, co-founder of The Sandbox, the program extends the company’s fundamental purpose of assisting a new generation of metaverse entrepreneurs. This allows startups all across the world to realize their visions.
“We are incredibly excited to support underrepresented founders as they pursue their goals in The Sandbox,” he said.
The program is presently accepting applications. According to reports, the first round of investments will begin in the second quarter of 2022. The initiative is part of Launchpad Luna, a joint venture between Animoca Brands and Brinc to assist startups in their growth.