The Sandbox metaverse and global venture accelerator, Brinc, have partnered to launch The Sandbox Metaverse Accelerator Program. The Sandbox has committed $50 million to Brinc for the program which will fund 100 startups to develop the open metaverse. The first cohort will start in Q2 of 2022.
“The Sandbox’s Metaverse Accelerator is a major expansion of our ongoing commitment to support the next generation of metaverse entrepreneurs,” said Sebastien Borget, The Sandbox co-founder. “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.”
What is The Sandbox Metaverse Accelerator Program?
Every year, The Sandbox Metaverse Accelerator Program will support 30 to 40 startups over a three-year period. Particularly, the program targets startups that can enhance the open metaverse. Essentially, an open metaverse is created on shared values and has an open, transparent, and decentralized governance.
“The open metaverse will not be owned by any single entity and thus presents an incredible opportunity to create a participatory and collaborative nonzero-sum environment based on openness, equitability, user governance, and digital property rights,” said Yat Siu, executive chairman and co-founder of Animoca Brands.
The core aim of The Sandbox Metaverse Accelerator Program is to support startups that can help in the “growth and expansion” of The Sandbox ecosystem. So, the program will evaluate each startup based on its “traction, technical expertise, and ability to deliver unique experiences.”
Essentially, the program will invest in, mentor, educate, and support promising startups and projects. Moreover, it will provide potential partnership opportunities across the networks of The Sandbox, Animoca Brands, and Brinc. The best part is a chance to be mentored by some of the most high-profile mentors in the industry. This includes Holly Atkinson, lead blockchain developer at The Sandbox, Janine Yorio, CEO of Republic Realm, Leah Callon-Butler, director of Emfarsis, Yam Karkai, co-founder of World of Women, and many more.
Startups in the domains of art, collectibles, culture, entertainment, gaming, media, content, and streaming can apply. Once selected, each startup will receive an initial investment of up to $250,000. In addition, The Sandbox will provide grants of up to $150,000 in SAND tokens to the best startups. They will also receive LAND grants.
Animoca Brands x Brinc
Animoca Brands, which owns The Sandbox, had previously partnered with Brinc to launch Launchpad Luna, an NFT accelerator in July 2021. The accelerator mentored and invested in blockchain and NFT startups. In the first cohort, the program supported 27 startups across culture, art, entertainment, media, gaming, streaming, collectibles, insurance, finance, data management, and DeFi sectors.
This month, Animoca Brands also raised $358,888,888 to build the open metaverse. Liberty City Ventures led the round with participation from 10T Holdings, C Ventures, Delta Fund, Gemini Frontier Fund, and more.