The popular Crypto game The Sandbox (SAND) has partnered with a global venture company to set up an Acceleration Fund to develop Metaverse startups.
According to a news release, SAND has committed $50 million to a Hong Kong-based accelerator company Brinc for the Sandbox Metaverse Accelerator Program. The program will invest $250,000 in 100 new Metaverse Altcoins.
The program will fund 30-40 start-ups annually over the next three years. Start-ups that receive accelerated funding are encouraged to build on the SAND ecosystem, and top performers are further funded in the form of $150,000 in SAND tokens.
As the Sandbox co-founder Sebastien Borget said,
“Sandbox’s Metaverse Accelerator is a major extension of our ongoing commitment to supporting the next generation of Metaverse entrepreneurs.
With imagination, ideas, and hard work, start-ups around the world can realize their vision and impact society by creating more opportunities for everyone.
We especially want to support the undervalued founder’s ambitions to explore the infinite possibilities offered to the sandbox ecosystem. “
Other prominent partnerships with SAND include partnerships with renowned rapper Snoop Dogg. Snoop Dogg has purchased its own virtual land within the ecosystem with plans to provide fans with VIP access to concerts. Sandbox has also partnered with video game pioneer Atari and plans to bring intellectual property to the Sandbox Metaverse from its vast portfolio.
The sandbox was exchanged for $3.46 at the time of writing, up 6.5% on the day.
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Featured images: Shutterstock / Kostsov / WindAwake