Metaverse darling The Sandbox is launching a $50 million incubator program in partnership with venture accelerator Brinc, the company announced Wednesday.
The program will invest up to $250,000 in 30–40 metaverse startups each year over a three-year period, according to a press release. Top performers of the program will also be awarded up to $150,000 in SAND and LAND token grants.
“The Sandbox’s metaverse accelerator is a major expansion of our ongoing commitment to support the next generation of metaverse entrepreneurs,” Sebastien Borget, co-founder of The Sandbox, said in a press release. “With imagination, ideas and hard work, startups from all over the world can realize their visions and drive societal impact by creating more opportunities for everyone.”
The crypto crash continues on into Monday. Despite some positive signs from yesterday, which saw a rebound in many top tokens, investors saw fit to resume selling on Monday. As of 11:30 a.m. ET, top cryptocurrencies Cardano (CRYPTO:ADA), Chainlink (CRYPTO:LINK), and The Sandbox (CRYPTO:SAND) declined 6.5%, 6.2%, and 9.1%, respectively, over the past 24 hours.
The cryptocurrency market is tumbling Tuesday, and The Sandbox (CRYPTO: SAND) is getting caught up in the pullback. As of 1:30 p.m. ET, the metaverse-focused token was down roughly 3.9% over the previous 24-hour period.
The Sandbox now has a market capitalization of roughly $4 billion, which makes it the 40th largest cryptocurrency by valuation. Out of the top 40 cryptocurrencies, only six have posted any gains in the past day’s trading – and half of those are stablecoins designed to stay near the $1 price point.
The Sandbox LANDs are selling fast. And they’ve become the talk of the town in this new and exciting field of virtual real estate. The recent partnership with the American rapper Snoop Dogg and the sportswear company Adidas has only added fuel to the fire.
As you may know, there are a total of 166,464 LANDs in The Sandbox Metaverse. Out of it, 16,704 LANDs (10%) is held by The Sandbox to hold special events. And 25,920 LANDs (16%) is held in a reserve and distributed to partners, creators, and gamers as rewards. That means only 123,840 LANDs (74%) is available for users.
The size of one piece of LAND is 96 metres in width by 96 metres in length, making it a perfect square. You can also merge your 1×1 LANDs that are adjacent to each other to form an ESTATE. ESTATEs can be bought readily assembled as well. Typically, ESTATEs come in sizes of 3×3 (9 LANDs), 6×6 (36 LANDs), 12×12 (144 LANDs) and 24×24 (576 LANDs).