On January 27, Animoca Brands-owned metaverse gaming project The Sandbox announced a $50 million Metaverse Accelerator Program to expedite the growth of more than 100 metaverse projects. The company has partnered with global venture capital Brinc to boost business development opportunities across the crypto ecosystem.
Details of the program include The Sandbox investing about $250,000 each on 30-40 Metaverse startups per year over the next three-year period. In addition, SAND tokens and virtual lands worth up to US$150,000 will be provided to the highest-performing companies.
In addition to funding the projects, the incubator program will also mentor, educate, and support the development of the startups. Startups will also be able to leverage The Sandbox, Animoca Brands, and Brinc’s access to potential partnerships and business development opportunities in the area.
The program has onboarded some of the well-known industry players as mentors for the startups. Some of them are Cathy Hackl (CEO of Futures Intelligence Group), Holly Atkinson (lead blockchain developer at The Sandbox), Holly Liu (co-founder of Kabam), Janine Yorio (CEO of Republic Realm), and more.
Sebastien Borget, the co-founder of The Sandbox and chairman of the Blockchain Gamer Alliance, said in the press release:
“With imagination, ideas and hard work, startups from all over the world can realize their visions and drive societal impact by creating more 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.”