Animoca Brand’s The Sandbox commits US$50m to help startups build in the open metaverse
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Animoca Brand’s The Sandbox has committed to investing US$50 million to help 100 startups that’ll help grow its virtual world.
The Sandbox Metaverse Accelerator Program will invest up to US$250,000 in each startup, as well as coaching and support from high-profile mentors such as Animoca Brand’s Yat Siu, World of Women’s Yam Karkai and The Sandbox’s Sebastien Borget and Holly Atkinson.
Animoca Brands’ The Sandbox subsidiary has committed the funding to Brinc, a Hong Kong-based global venture accelerator, which aims to accelrate 30 to 40 startups a year over a three-year period.
The initiative is to fund projects that’ll contribute to the growth of The Sandbox ecosystem with new content and unique experiences.
They’re particularly looking to fund blockchain startups in the fields of art, collectibles, culture, entertainment, gaming, media, content and streaming.
“The Sandbox’s Metaverse Accelerator is a major expansion of our ongoing commitment to support the next generation of metaverse entrepreneurs,” said Sebastien Borget, co-founder of The Sandbox and the chairman of the Blockchain Gamer Alliance.
“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 as they explore the infinite possibilities offered into The Sandbox ecosystem.”
Siu, Animoca Brand’s executive chairman and co-founder, said that the open metaverse won’t 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.”
“We’re proud that our partnership with Brinc is powering accelerator programs that support founders to innovate in and scale up the creator economy,” Siu said.
The best-performing projects will receive further grants of up to US$150,000 in SAND tokens as well as LAND grants.
Other mentors who’ll be offering advice to projects accepted into the project include Cathy Hackl, chief executive of Futures Intelligence Group; Holly Liu, co-founder of Kabam; Janine Yorio, chief executive of Republic Realm; Leah Callon-Butler, director of Emfarsis and columnist at CoinDesk; Pavel Bains, co-founder of Bluzell); Serena Tabacchi, director and co-founder of Museum of Contemporary Digital Art; Susan Cummings, CEO of Petaverse Network; and Yingzi Yuan, founder and builder of Metaverse Summit