Connect with us

Search

News

Ethereum-Based Game The Sandbox Starts Metaverse Accelerator Worth $50M

The team behind The Sandbox wish to support and mentor 100 startups in an effort to work towards an open metaverse.

sandbox
The Sandbox

The Metaverse is the subject of a lot of ‘hype’ for everyone privy to it. As such, the Ethereum-based game The Sandbox could be regarded as one of the early contenders in space. Now, in an effort to encourage the development of both metaverse projects located within and outside of the game world, The Sandbox has launched an accelerator program tasked with the objective of investing in and mentoring startups.

The Sandbox has committed to $50 million to invest in up to 100 startups that are to build towards an open, interoperable metaverse. It has accomplished this task with the help of parent company Animoca Brands, and the global venture accelerator Brinc.

The initiative is predicted to work on 30-40 startups per year spanning across 3 years. The Sandbox Metaverse Accelerator Program shall be added as a track in the existing Launchpad Luna alliance that Animoca and Brinc established in 2021.

The Sandbox may be leading the charge, but startups do not have to be building within the game world exclusively. The objective at hand here is not simply just to bring in creators for the development of the game’s own metaverse experience, and it most certainly isn’t even focused specifically on Ethereum.

It’d appear the vision here is that of the broader crypto ecosystem, aimed at builders who wish to develop interoperable platforms and pieces that all work in tandem within an open metaverse. A 3-month online program that includes mentorship, as well as investment, is the play here, which also helps projects discover market readiness as well as connect with partners, investors, and influencers, too.

The program has gathered a ton of mentors spanning across the crypto and gaming industries, including Borget himself, as well as other members of The Sandbox team, Animoca Brands Executive Chairman Yat Siu, Gabby Dizon, who serves as the Yield Guild Games co-founder, Kabam co-founder Holly Liu and of course, Ada Jonuse, Lympo co-founder and CEO.

When it comes to creator funds, The Sandbox already has one that rewards artists and developers working within the game world. Sebastien Borget, COO and co-founder was in conversation with Decrypt and told them he saw an increasing number of people with the wish to help build the wider open metaverse but lacked the investment or support required to take it to the next level.

“We saw people wanting to start their own business in the metaverse, and we had no specific funds or foundation to support them properly,” he said.

Advertisement

Trending Articles

Advertisement

TRENDING ARTICLES

NFTs

The MCU star was under fire for sharing and promoting her "lil corner" in the some place metaverse, and an NFT collection.

NFTs

The CEO of Meta, the parent company behind Instagram has confirmed that NFTs will be arriving to the photo and video sharing platform.

News

Lubin shared light on the fact that the sheer amount of money being sent to aid Ukraine shows that crypto is "crossing the chasm...

NFTs

Solana has officially raised funds that will challenge OpenSea's dominance in the broader NFT market.

Blockwatch is a news and information site on crypto, digital assets, NFTs, crypto investing, and the future of money. Blockwatch is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Blockwatch is an independent operating subsidiary of Ubiquitous, Inc, which invests in cryptocurrencies and blockchain startups.

Copyright © 2022 Blockwatch™ Media, Inc. Blockwatch™ Media is a Ubiquitous company. All rights reserved.