The Sandbox gets ready for startup accelerator program with $50M fund
The Sandbox, a sandbox game for mobile phones and Microsoft Windows developed by Pixowl, has announced a $50 million fund that aims at developing metaverse-based startups with great potential. The goal of the virtual world-based gaming project is to accelerate the growth of about 30-40 startups.
The Sandbox accelerator program
The Sandbox is gearing up for this journey and has partnered with venture accelerator firm Brinc for the same. The two firms are targeting about 30-40 metaverse-based projects and aim to accelerate their growth. Moreover, The Sandbox Metaverse Accelerator Program will distribute the entire sum in every project, with each project getting up to a quarter of a million dollars.The top-performing projects from The Sandbox Metaverse Accelerator Program will be getting additional incentives as well, driving the competition levels among the projects and bringing out the best in them. High-profile mentors will be backing these top-performing projects.
As per The Sandbox Co-Founder Sebastien Borget, the Animoca Brands subsidiary aims to support a new wave of projects based on the metaverse and expand the technology. Borget added in a statement:
"We're especially eager to support underrepresented founders in their ambitions as they explore the infinite possibilities offered into The Sandbox ecosystem."
Applications
The applications for the first batch of applicants are now open, and the first batch will be finalized by the second quarter of 2022. Furthermore, the program will be running in Launchpad Luna, which is the result of the collaboration between The Sandbox and Brinc.It is also a notable fact that the program aims to promote the project, which aims at building an open metaverse. Animoca Brands Co-Founder and Executive Chairman Yat Siu sees the open metaverse as a huge opportunity and said it "presents an incredible opportunity to create a participatory and collaborative nonzero-sum environment based on openness, equitability, user governance, and digital property rights."
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