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Popular Metaverse and virtual gaming world The Sandbox has launched a $50 million incubator program together with venture accelerator Brinc.
Announced on Wednesday, the program will have up to $250,000 available each year for a period of three year, divided over 30–40 metaverse startups.
The first grants will be announced within a few months and the program is accepting applications.
Sebastien Borget, co-founder of The Sandbox, said in a press release:
“The Sandbox’s metaverse accelerator is a major expansion of our ongoing commitment to support the next generation of metaverse entrepreneurs. 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.”
Top performers of the program will receive up to $150,000 in SAND and LAND token grants.
The $50 million fund comes at the very early stages of Metaverse popularity. Bank of America recently reported on the massive potential of the Metaverse and Grayscale investments is considering it a $1 trillion opportunity. To top it all off, global investment bank Goldman Sachs this week said that the Metaverse could even be worth as much as $12 trillion.
The Sandbox is held by Yat Siu’s Animoca Brands, one of the biggest investors in non-fungible-token (NFT) projects and decentralized gaming.