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Sunday, May 22, 2022

Sandbox Has Announced A Fund Of $50 Million

The Sandbox, a virtual world project, recently announced its metaverse accelerator program that would push the development of the open metaverse. The project would soon be investing around $50 million in startups, it has been reported that the Animoca Brands subsidiary will be partnering with the venture accelerator firm Brinc to target close to 30 to 40 blockchain startups a year for this special program. 

Sandbox Is Gearing Up To Help Other Startups Develop

The Sandbox Metaverse Accelerator Program will see itself allocating close to $250,000 in investment to every single potential project and will also provide additional incentives to top-performing projects. The bonuses will include the digital asset of SAND and LAND, the digital real estate within the metaverse of this virtual project. Apart from this, the best-performing startups will also have major access to most of the additional investment grants and high-profile mentors. 

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According to Sebastien Borget, the co-founder of The Sandbox, the program is definitely an expansion of its goal to bring about a new wave of metaverse entrepreneurs. Through this, startups across the entire world would be able to make most of their ideas come to life. He further mentioned that the team was quite eager to support most of the underrepresented founders in their ambitions as they went ahead and explored the infinite possibilities that were offered into the ecosystem of this project. 

Applications have been declared open, and the first round of investments will be scheduled to proceed from The Sandbox by the second quarter of 2022. The program will be running within the Launchpad Luna, a collaboration effort by Brinc and Animoca Brands that aims at supporting the development of a whole host of startups. 

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