Sebastian Sinclair

<div id="highlights-block_61ef867bcc15a" class="highlights">
 <ul>
 <li>The new accelerator program will support the launch of new startups looking to contribute to the growth and expansion of The Sandbox ecosystem, the companies said</li>
 <li>The program will accelerate 30 to 40 startups per year over a three-year period with initial investments of up to $250,000 each</li>
 </ul>
 
</div>



Animoca Brands&#8217; metaverse subsidiary, The Sandbox, has committed $50 million to venture capital firm Brinc as part of a new program seeking to advance startups building atop the platform&#8217;s Open Metaverse.



Funding will go towards The Sandbox Metaverse Accelerator Program and is expected to target 100 startups, according to a press release on Thursday. 



Mentorship, education and support of the development for startups will form a major part of the accelerator. Access to potential partnerships and business development opportunities across the networks of The Sandbox, Animoca Brands and Brinc will also be on the table.



The program will attempt to accelerate 30 to 40 startups per year over a three-year period with initial investments of up to $250,000 each. Best performing startups will also receive further grants of up to $150,000 in SAND tokens as well as LAND grants via The Sandbox, the companies said. 



The metaverse, or virtual worlds leveraging a combination of tech including blockchain and augmented reality, is projected to earn trillions of dollars in the <a href="https://cms.blockworks.co/why-investors-are-paying-millions-for-virtual-land-in-the-metaverse/" target="_blank" rel="noreferrer noopener">coming years</a>. It&#8217;s also why Facebook&#8217;s parent Meta is expected to <a href="https://cms.blockworks.co/report-meta-will-incorporate-nfts-into-ambitious-metaverse-plans/" target="_blank" rel="noreferrer noopener">dump billions</a> on the new medium as part of its push to redefine beyond its narrow social ad revenue model.



Performance of the startups within the program will be judged based on their traction, technical expertise and on their ability to &#8220;deliver unique experiences,&#8221; according to the release.



“The Sandbox&#8217;s Metaverse Accelerator is a major expansion of our ongoing commitment to support the next generation of metaverse entrepreneurs,&#8221; Sebastien Borget, co-founder of The Sandbox and chairman of the Blockchain Gamer Alliance, said.



<blockquote class="wp-block-quote">&#8220;We’re especially eager to support underrepresented founders in their ambitions.&#8221;</blockquote>



As part of its push into the metaverse, Hong Kong parent Animoca Brands raised close to <a href="https://www.forbes.com/sites/justinbirnbaum/2022/01/17/blockchain-gaming-company-animoca-brands-raises-360-million-in-quest-to-build-the-open-metaverse/?sh=7bc549e04f37">$360 million</a> in a funding round, valuing the blockchain gaming firm at $5.4 billion. The Sandbox also recently nabbed prominent partnerships with musician <a href="https://www.animocabrands.com/the-sandbox-partners-with-snoop-dogg-to-bring-the-legendary-icon-into-the-metaverse" target="_blank" rel="noreferrer noopener">Snoop Dogg</a>, gaming company Atari and Skybound Entertainment, the company behind The Walking Dead comic series.



Applications for the program, which are now open, are expected to commence with the first cohort in Q2 of this year.



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Metaverse Platform The Sandbox to Pour $50M Into New Accelerator Program

Jacquelyn Melinek

<div id="highlights-block_61f075101ef5c" class="highlights">
 <ul>
 <li>“Blockchain offers us capabilities the internet couldn’t,” Animoca&#8217;s CEO said</li>
 <li>The company raised $359 million earlier this month in a round led by Liberty City Ventures</li>
 </ul>
 
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Making a break from centralized platforms and connecting directly with creators is key to carving out Animoca Brands’ niche in the metaverse, the startup’s CEO told Blockworks.



“We believe that in the battle between content and distribution, content is king,” CEO Robby Yung said. “In the world of Web3, content will win out over distribution because we will see content itself becoming the platform.”



Yung pointed to the company’s recent <a href="https://cms.blockworks.co/the-sandbox-parent-animoca-brands-raises-359m-to-build-out-open-metaverse/" target="_blank" rel="noreferrer noopener">nine-digit fundraise</a> as providing resources to build out its vision for the metaverse and enable digital ownership. 



In Yung’s view, nurturing the development of alt-chains and building toward a multi-chain future are key considerations for an open metaverse. Animoca — which incubates and backs NFT, blockchain gaming and metaverse projects — has supported development on blockchains including Flow and Polygon.&nbsp;



“[The metaverse] is attributable to openness, the multi-chain interoperable world, a diversity of platforms — many layer-1 and layer-2 chains that people can build on top of,” he said. “[The] last thing blockchain needs is ‘winners,’ and when we all coalesce around Ethereum, for example, that may not be good for innovation.”&nbsp;



And the market for individual ownership of virtual items will only grow as the metaverse expands, Yung said.&nbsp;



“Blockchain offers us capabilities the internet couldn’t,” Yung said. “There’s digital ownership of digital goods, which we feel is a game changer in how we conduct our lives online.”



Platforms now have too much power over the dissemination of copyrighted content, the CEO said.&nbsp;



“They were renting from platforms [like Netflix],” he said. “While it works for copyright holders, it doesn’t provide value to customers or return to creators of the content, either. Most of the value is taken by platforms distributing it.”.



<h3 class="wp-block-heading">In the pioneering phase</h3>



As Animoca eyes new investments, it’s paramount for the company to key in on transparent businesses, Yung said.&nbsp;



It has previously backed over 150 NFT and metaverse-related companies, including OpenSea, <a href="https://cms.blockworks.co/dapper-labs-backer-animoca-scores-85m-to-further-invest-in-the-metaverse/" target="_blank" rel="noreferrer noopener">Dapper Labs</a>, Axie Infinity and Yield Guild Games. The firm is also the parent company of The Sandbox.



“We’re still in the pioneering phase of building out content verticals and technology platforms,” Yung saud.&nbsp;



Though it’s matured a great deal, the metaverse and the entire idea of digital ownership remains nascent, Yung said.&nbsp;



“The products out in the market aren’t indicative of where this industry will be 3 years from now,” Yung said. “Now that we have matured, you’re going to see products reflective of what the future holds, compared to last year and the year before because those were built on shoe strings.”

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