Leading metaverse platform The Sandbox has committed US$50M in funding to venture accelerator Brinc towards the launch of ‘The Sandbox Metaverse Accelerator Program’.
The program is aimed at supporting 100 start-ups in enhancing the metaverse experience for users and contributing towards the growth and expansion of The Sandbox ecosystem through “unique experiences, fresh creativity and new content”.
With growth and development in mind, the program also aims to invest in, mentor, educate and support the most promising start-ups whilst opening the doors for potential partnerships and development opportunities through The Sandbox and Animoca Brands’ global networks.
The 100 start-ups accepted into the program will receive an initial investment of up to US$250,000 each, with further grants of up to US$150,000 in SAND tokens and LAND grants awarded to the best performers.
Other high performers can also apply for additional investment opportunities from The Sandbox, parent company Animoca Brands – which recently raised $358m to expand on the metaverse – and Brinc.
The Sandbox is a virtual Metaverse where players can play, build, own, and monetize their virtual experiences. Image – The Sandbox
The first cohort is scheduled to start in Q2 2022, with the program aiming to accelerate and support some 30 to 40 start-ups a year over a three-year period. Online applications are now open at Brinc.
Sandbox co-founder Sebastien Borget spoke of the accelerator’s ability to build upon shared values and encourage creativity and innovation in the industry.
“We’ve launched this accelerator to fuel the next wave of innovation, supporting a diverse array of entrepreneurs as they create jobs and build new tools, platforms and services for the metaverse,” he said.
“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.”
Alongside Borget, Yat Siu, CEO of Animoca Brands, and Manav Gupta from Brinc will support the start-ups alongside an array of leaders from the industry. Influential Web3 leaders from Binance and Dragonfly Capital will also provide mentorship.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.