The Sandbox announces $50 million Open Metaverse Accelerator with Brinc
As a metaverse project and a subsidiary of Animoca Brands, The Sandbox has joined Brinc by committing $50 million to create a new accelerator program. Operating as a venture accelerator, The Sandbox Metaverse Accelerator Program will be seeking out 100+ startups to enhance the metaverse.
“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 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.”Sebastien Borget, Co-Founder – The Sandbox
The Sandbox Metaverse will operate as a dedicated track within Launchpad Luna, the accelerator program established between Brinc and Animoca Brands, in July 2021. This new program aims to support and accelerate 30-40 startups annually over three years. To do so, The Sandbox, Animoca Brands and Brinc will all provide financial, educational and industrial support, including networking partnerships and business development opportunities.
Applications are currently open for those interested in The Accelerator, and its first cohort is scheduled to start in the second quarter of 2022.
Specifically, the new program is interested in startup companies looking to enhance the open metaverse. As a result, they will be evaluated on their traction, technical skills and ability to deliver on unique experiences. Projects that are accepted will receive an initial investment of up to $250,000. 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-program can also apply for follow-on investment from The Sandbox, Animoca Brands, and Brinc.
For The Sandbox Metaverse Accelerator Program, its core directive is to support the launch of new startups that can contribute to the growth and expansion of The Sandbox ecosystem by building unique experiences and populating the platform with fresh creativity and new content.
Find out more about Brinc by visiting the website right here.