THE SANDBOX (SAND) SETS UP A FUND OF 50 MILLION USD TO INCUBATE METAVERSE PROJECTS

Metaverse pioneer crypto project The Sandbox commits to funding up to 40 projects over the next 3 years.

 

The Sandbox (SAND), a cryptocurrency project with the ambition to build the first true metaverse virtual world, said it has partnered with the Brinc investment fund to create a $50 million incubator program for projects. potential project.

 

Accordingly, the above incubator fund will invest 250,000 USD in about 30-40 breakthrough metaverse projects in the next 3 years. The most promising projects will even be awarded an additional 150,000 USD of SAND and LAND tokens – two valuable assets in the world of The Sandbox.

 

The first series of projects to receive support from The Sandbox will be announced in the second quarter of this year.

 

The Sandbox Co-Founder Sebastien Borget said:

 

“This metaverse booster fund is an affirmation of our commitment to incubating the next generation of metaverse projects. With imagination, novel ideas and a spirit of hard work, startups around the globe can realize their vision and increase their impact on society by creating more opportunities for everyone.”

 

The Sandbox is a project owned by Animoca Brands, the leading giant in blockchain game investment today. In January, Animoca Brands successfully raised $359 million , doubling the company's valuation from $2.2 billion to $5.5 billion in less than four months.

 

In addition, a series of large funds have been announced recently targeting the Web3/ blockchain game/ metaverse segment. Typical among them can be mentioned as KuCoin ($100 million), Chromia/My Neighbor Alice/Mines of Dalarnia ($80 million), Hashed ($200 million), Animoca Brands/Binance Smart Chain ($200 million), Gala Games ($100 million), Solana Ventures (2 funds totaling $250 million ), FTX Ventures ($2 billion)