Virtual world initiative The Sandbox reportedly disclosed details related to its metaverse accelerator program, which aims to promote the growth of the open metaverse via a $50 million investment in startups. 

Specifically, the Animoca Brands subsidiary is reportedly forging an alliance with the venture accelerator entity Brinc, in an effort to financially support 30 to 40 blockchain startups annually for the program. 

The Sandbox Metaverse Accelerator Program is reportedly going to dedicate a maximum of $250,000 by investing in each potential initiative, as well as offering extra incentives to initiatives with the best performances. 

The bonuses reportedly consist of The Sandbox (SAND) digital asset and LAND, virtual real estate located in The Sandbox’s metaverse. 

Aside from the above, the top-performing startups will reportedly also have the ability to tap into extra investment grants and high-profile mentors.

As revealed by The Sandbox Co-Founder Sebastien Borget, the program reportedly functions as an expansion of its target to offer assistance to a new generation of metaverse entrepreneurs.

Via this, startups throughout the globe will reportedly have the support to turn their ideas into reality. 

“We’re especially eager to support underrepresented founders in their ambitions as they explore the infinite possibilities offered into The Sandbox ecosystem”.

Startups can reportedly now submit their applications, with the timeline for processing of the first batch of investments being Q2 this year. 

The program reportedly operates within Launchpad Luna – a collaborative attempt between Animoca Brands and Brinc, with goals to assist the development of startups.