Friday, July 19, 2024

Sandbox NFT Launches $50 mn Accelerator Program

The Sandbox has partnered with Brinc, a leading global venture accelerator, for a $50 million Metaverse Accelerator Program. It aims to target 100 startups to enhance the open metaverse.

The Sandbox Metaverse Accelerator Program, according to a press release, is a dedicated track within Launchpad Luna which was launched in mid-2021 as a collaboration between Brinc and Animoca Brands. It will invest in, mentor, educate and support the development of promising startups and projects. The program will provide access to potential partnerships and business development opportunities across networks.

Sebastien Borget, the co-founder of The Sandbox and chairman of the Blockchain Gamer Alliance, said this is a major expansion of the company’s ongoing commitment to support the next generation of metaverse entrepreneurs. He highlighted that with imagination, ideas, and hard work, startups can realize their visions and drive societal impact. This will create more opportunities.

Yat Siu, executive chairman and co-founder of Animoca Brands, believes the open metaverse presents an incredible opportunity to create a participatory collaborative nonzero-sum environment. It can be based on equitability, openness, digital property rights and user governance, etc.

Manav Gupta, the founder, and CEO of Brinc, highlighted that the metaverse is a new way of talking about an equitable and more sustainable future. He explained that as digital experiences develop, there will be fewer reasons to emit carbon to travel for work or play. Gupta says that new metaverse startups and Web3 technologies have the potential to develop these new ways as well as democratize access to financial services, education, and entertainment.

The program wants to work with startups to enhance the open metaverse. As such, the startups will be evaluated on their traction, technical expertise, and capacity to deliver unique experiences. They will receive an initial investment – up to USD 250,000 each. Moreover, Sandbox will provide additional grants of up to USD 150,000 in SAND tokens and LAND grants to the best participants.

Sandbox, through this ambitious program, will support the launch of new startups that can contribute to the growth and expansion of The Sandbox ecosystem. It wants to build new experiences, populate the platform with fresh creativity and new content. Startups, particularly, in the field of collectibles, culture, art, gaming, entertainment, media, content, and streaming, have been encouraged to apply. These startups will be empowered to help The Sandbox grow its ecosystem and engage with its existing and growing user base.

Together, the company will work towards revolutionizing how people interact in their daily lives. Some of the noted recent partnerships include Snoop Dogg, Atari, and Skybound Entertainment.

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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