Animoca Brands’ The Sandbox Invests US$50 Million in Metaverse Acceleratorby Fintech News Hong Kong January 27, 2022
The Sandbox, a decentralised gaming metaverse and a subsidiary of Animoca Brands, has committed US$50 million to global venture accelerator Brinc for The Sandbox Metaverse Accelerator Programme, which will target 100 startups to enhance the open metaverse.
With applications now open and the first cohort scheduled to start in Q2 2022, The Sandbox Metaverse Accelerator Programme is a dedicated track within Launchpad Luna, the accelerator launched in mid-2021 as a partnership between Brinc and Animoca Brands.
The new programme aims to accelerate 30 to 40 startups a year over a three-year period.
Blockchain startups in the fields of art, collectibles, culture, entertainment, gaming,media, content, and streaming are encouraged to apply.
The programme will invest in, mentor, educate, and support the development of promising startups and projects while also providing access to potential partnerships and business development opportunities across the growing networks of The Sandbox, Animoca Brands, and Brinc.
Startups accepted into the programme will receive an initial investment of up to US$250,000 each.
The Sandbox will also provide further grants of up to US$150,000 in SAND tokens to the best performers, as well as LAND grants.
Startups that demonstrate meaningful traction post programme will be able to also apply for follow-on investment from The Sandbox, Animoca Brands, and Brinc.
Sebastien Borget, Co-founder of The Sandbox and chairman of the Blockchain Gamer Alliance said,
“The Sandbox’s Metaverse Accelerator is a major expansion of our ongoing commitment to support the next generation of metaverse entrepreneurs.
We’re especially eager to support underrepresented founders in their ambitions as they explore the infinite possibilities offered into The Sandbox ecosystem.”