The Sandbox has provided $50 million in funding for its startup accelerator program —

As a top virtual world platform, The Sandbox announced the launch of an accelerator program, taking the Metaverse industry by storm. To expand the development of the Open Metaverse Cluster, Sandbox plans to invest $50 million in startups through its Accelerator Fund program. As part of its newly launched Metaverse accelerator program, the world’s largest Metaverse company has partnered with popular venture accelerator firm Brinc to support 30 to 40 blockchain-focused startups each year.

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The Sandbox Accelerator Program will reportedly provide substantial financial assistance of $250,000 to support each startup. Projects that will be the most prominent in performance criteria will receive additional incentives from the company. Juicy offerings for start-up projects will include Sandbox (SAND) native tokens and digital real estate LAND, which form the main features of the company’s ecosystem. Companies that fall into the top-performing category will receive additional investment incentives and support from expert mentors in the field.

Sebastien Borget, the company’s co-founder, said the Metaverse accelerator program is a strategic step in nurturing upcoming high-potential Metaverse creators. The program will help entrepreneurs from around the world support their ideas. The sandbox ecosystem will help them explore the limitless opportunities of the virtual world industry.

The program’s application window opens for startup. As part of this program, the team may provide the first tranche of investments in the second quarter of 2022. The program will run within Lunchpad Luna, a joint project of Animoca Brands and Brinc to support start-ups.

With this, the Sandbox looks forward to curating an open metaverse that will not be owned by one entity. Yat Siu, co-founder and executive chairman of Animoca Brands, revealed that an open Metaverse will encourage participation in an ecosystem characterized by equality, user governance and digital property rights. According to Manav Gupta, founder and CEO of Brinc, Metaverse Technology Helps reduce carbon emissions as it will reduce the need for physical products using hazardous production techniques.