Virtual World Project The Sandbox has announced its Metaverse Accelerator Program, which will increase the development of the open Metaverse by investing $ 50 million in startups. The subsidiary Animoca Brands collaborates with the project accelerator Brinc to attract 30-40 blockchain startups to the program each year.

The Sandbox Metaverse Accelerator will allocate up to $ 250,000 in investment for each potential project and provide additional incentives for top-performing projects. Prices include Sandbox (SAND) and LAND digital assets, as well as digital real estate in the Sandbox meta-verse. In addition, the most successful startups will also have access to additional investment grants and high-level mentors.

According to The Sandbox founder Sebastien Bourget, the program is an extension of the goal of supporting a new wave of metaverse entrepreneurs. Thanks to this, startups around the world can bring their ideas to life. “We are especially committed to supporting under-represented founders in their ambitions as they explore the endless possibilities available in the Sandbox ecosystem,” he said.

Applications are already open, and the first group of investments should start in the second quarter of 2022. The program is run by Launchpad Luna, a collaboration between Animoca Brands and Brinc to support start-up growth.

The software supports the development of an open metaverse, a metaverse that no single device owns on its own. According to Animoca Brand’s co-founder and CEO Yata Siu, the open meta-verse provides “a fantastic opportunity to create a collaborative environment that is not zero based on openness, justice, user management and digital property rights.”

Related: NFT-Focused Animoca Brands Valued at $ 5 Billion After Growing at $ 358 Million

In addition to supporting the business community, the development of the meta-verse can also help the environment in the long run. Manav Gupta, founder and CEO of Brinc, believes that “as the digital experience evolves, we will have fewer reasons to commute for work or pleasure due to carbon emissions.” Gupta says this can reduce the demand for physical products such as art and goods that have unsustainable production methods.

Source: CoinTelegraph