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Cryptoknowmics 2022-01-27 08:00:47

The Sandbox Launches $50M Metaverse Accelerator Program

The Sandbox, a decentralized gaming metaverse and a subsidiary of Animoca Brands is launching a $50 million accelerator program to support the development of open metaverse in partnership with venture accelerator Brinc. According to a press release, The Sandbox Metaverse Accelerator Program will allocate up to $250,000 in 30–40 metaverse startups each year for over a three-year period. Top-performing projects will also be awarded up to $150,000 in SAND and LAND token grants. Startups that demonstrate ‘meaningful traction post-program’ can also apply for follow-on investment from The Sandbox, Animoca Brands, and Brinc. Applications are now open with the first batch of investments commencing by the second quarter of 2022. Blockchain startups in the fields of art, collectibles, culture, entertainment, gaming, media, content, and streaming have been encouraged to apply. Performance of the startups within the program will be judged based on their traction, technical expertise, and their ability to ‘deliver unique experiences’ according to the release. Furthermore, the program will be running in Launchpad Luna, a blockchain accelerator that was created by Brinc and Animoca Brands in October last year. “New metaverse startups and Web 3.0 technologies have the potential to not only develop new ways to work and play, but also to democratize access to financial services, education and entertainment. We believe that for the metaverse to ...

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