Wednesday, June 12, 2024

With a $50 million incubator programme, The Sandbox hopes to boost Metaverse startups.

The Sandbox is a game for MS Windows and mobiles (Android and iOS). After its acquisition by Animoca Brands in 2018, users could buy virtual land in the blockchain version of the game. In collaboration with entrepreneurial developer Brinc, they are creating a 50 million dollar incubation program.

The initiative would fund upwards of 250,000 dollars into thirty or forty metaverse firms every year for 3 years, according to the firm. LAND and SAND coin prizes worth approximately 150,000 dollars would be granted to the project’s best participants.

The initial intake of the program will be revealed at the start of Q2 2022. The program would last for three months. Registrations are presently being accepted. This arrives during a crucial juncture in the development of useful metaverse interactions.

In a media statement, the Sandbox co-founder Sebastien Borget remarked, “Our metaverse acceleration represents a substantial augmentation of a continuous effort to help the upcoming era of metaverse startups.”

Animoca Brands, which owns the Sandbox, is among the more prominent investors in the metaverse. It completed a 360 million dollar investment phase recently, putting the company at 5.5 billion dollars, doubling its capitalization of $2.2 billion in October 2021.

In December 2021, the company sponsored a 130 million dollar B Series round. This was done for Brinc to help the firm expand towards Web 3 entertainment. On 27th January, the SAND coin has risen roughly six percent in the last twenty-four hours, reaching 3.50 dollars, exhibiting an ascending trend beginning at 4:00 GMT.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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