Sandbox Launches Metaverse Accelerator Program, Offering $50M for 100 Startups
Virtual Metaverse gaming platform Sandbox has launched the Metaverse accelerator program, which will provide 100 startups with $50 million in start-up capital to promote the development of the Metaverse field.
Sandbox, a subsidiary of Animoca Brands, said the plan would invest in about 30 to 40 blockchain startups each year. It will launch in the second quarter of 2022.
Investments will be up to $250,000 per startup. And will give top-performing businesses up to $150,000 in grants from SAND and LAND, digital real estate in the virtual world of The Sandbox, as well as follow-on investments.
The Sandbox Metaverse Accelerator Program, a mid-2021 collaboration between leading global venture capital accelerators Brinc and Animoca Brands, is incorporated into a dedicated track within Launchpad Luna.
The project aims to support startups, helping them to build unique experiences and creating new content to expand the sandbox ecosystem.
The co-founder of The Sandbox and chairman of the Blockchain Gamer Alliance, Sebastien Borget, said:
"The Sandbox's Metaverse Accelerator is a major expansion of our ongoing commitment to support the next generation of metaverse entrepreneurs. With imagination, ideas and hard work, startups from all over the world can realize their visions and drive social impact by creating more opportunities for everyone."
Blockchain.News reported on January 19, Animoca Brands, has raised $358.88 million from investors led by Liberty City Ventures.
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