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Sandbox to invest $50 million in Metaverse startups

Sandbox-Brinc-Animoca-metaverse

The Hong-Kong based gaming software Amonica Brands along with its subsidiary “The Sandbox” is running an accelerator program for metaverse startups. The incubation program is supposed to invest $50 million in around 40 startups starting this month. According to the reports, The Sandbox Metaverse Accelerator Program is another track of exploration in the ongoing Launchpad Luna alliance established by Amonica and Brinc in 2021.

Through this acceleration program, the company will invest $250,000 in 30-40 metaverse projects each year for a period of 3 years. Also, best performers will also receive $150,000 worth of the game’s $SAND token and LAND grants by The Sandbox. The participants will be judged on the parameters like traction, technical expertise, and their potential to ” deliver a unique user experience” in the gaming world. Sebastien Borget the Co-Founder of The Sandbox says, “The Sandbox’s Metaverse Accelerator is a major expansion of our ongoing commitment to support the next generation of metaverse entrepreneurs”. He also added,

“With imagination, ideas and hard work, startups from all over the world can realise their visions and drive societal impact by creating more opportunities for everyone. We’re especially eager to support underrepresented founders in their ambitions as they explore the infinite possibilities offered into The Sandbox ecosystem”.

By Sebastien Borget, Co-Founder, The Sandbox

Warner Music Group (WMG) to partner with The Sandbox

Warner Music Group (WMG) also announced their entering in The Sandbox (SAND) metaverse. The music company plans to launch musical virtual concerts, theme parks, and concert venues. The company has already acquired a beachfront land in metaverse to host performances by their music artists. WMG owns popular music properties like Atlantic, Elektra, Warner Records, and Parlophone.

As the new addition of WMG in SAND, the metaverse tycoon has already partnered with over 200 organizations such as Adidas, Snoop Dogg, and NFT platform CryptoKitties.

“Our partnership with The Sandbox adds a new layer of possibility in the metaverse, with the ownership of virtual real estate. As a first-mover, Warner Music has secured the equivalent of beachfront property in the metaverse. On the LAND, we’ll develop persistent, immersive social music experiences that defy real-world limitations and allow our artists and their fans to engage like never before.”

Oana Ruxandra, Chief Digital Officer & EVP, Business Development at Warner Music Group

In India, the music giant company T-Series is also focusing to step into the metaverse in partnership with Hungama Digital. With this move, T-Series will then becomes the first Indian music company in the metaverse. Although, no further reports have been seen yet.

Also, read – Meta Launches World’s Largest Supercomputer

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