CFOtech Australia logo
Technology news for Australian CFOs and financial decision-makers
Story image

The Sandbox and Brinc announce $50M Open Metaverse Accelerator Program funding for 100 startups

By Ryan Morris-Reade
Fri 28 Jan 2022

The Sandbox, a decentralised gaming metaverse and a subsidiary of Animoca Brands, has committed US$50M to Brinc, a global venture accelerator, for a new program targeting 100 startups to enhance the open metaverse.

The Sandbox Metaverse Accelerator Program is a dedicated track within Launchpad Luna, the accelerator launched in mid-2021 as a partnership between Brinc and Animoca Brands. Applications are now open, and the first cohort is scheduled to start in Q2, 2022.

The new program aims to accelerate 30 to 40 startups over three years. The program will invest in, mentor, educate, and support the development of promising startups and projects while also providing access to potential partnerships and business development opportunities across the growing networks of The Sandbox, Animoca Brands, and Brinc.

The program is looking for startups that can enhance the open metaverse, and they will be evaluated on their traction, technical expertise, and ability to deliver unique experiences. Startups accepted into the program will receive an initial investment of up to US$250,000 each. The Sandbox will also provide further grants of up to US$150,000 in SAND tokens to the best performers, as well as LAND grants. Startups that demonstrate meaningful traction post-program can also apply for follow-on investment from The Sandbox, Animoca Brands, and Brinc.
 
"The core directive of The Sandbox Metaverse Accelerator Program is to support the launch of new startups that can contribute to the growth and expansion of The Sandbox ecosystem," says The Sandbox co-founder and chairman of the Blockchain Gamer Alliance, Sebastien Borget. 

"Pioneering blockchain startups in the fields of art, collectables, culture, entertainment, gaming, media, content, and streaming, are encouraged to apply. Accelerated startups will be empowered to contribute to The Sandbox's rapidly growing ecosystem and actively engage with its existing and growing user base."

He says The Sandbox Metaverse Accelerator Program will support the open metaverse built on shared values through open, transparent, decentralised governance. He says this will replace the current paradigm of closed platforms thanks to powerful network effects, creating a more sustainable digital future.

Several high-profile mentors are supporting the program. Recent partnerships with The Sandbox include Snoop Dogg, who owns virtual land in the metaverse and will give users VIP access to concerts, events and dedicated digital items. Atari, the pioneer of arcade games with recent success as a global gaming brand with RollerCoaster Tycoon, will introduce IPs from its portfolio to the Sandbox metaverse. And Skybound Entertainment, which brought The Walking Dead game experience to the virtual world.

Brinc continues to invest and support startups in the open metaverse, representing the new digital frontier. Key focus areas include entertainment, education, and inclusivity through a more equitable digital economy. The new program will support startups by integrating sustainability, inclusion, and equitability into their business models.

"The Sandbox's Metaverse Accelerator is a major expansion of our ongoing commitment to support the next generation of metaverse entrepreneurs," says Borget.

"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 under-represented founders in their ambitions as they explore the infinite possibilities offered into The Sandbox ecosystem."

Yat Siu, executive chairman and co-founder of Animoca Brands, says, "The open metaverse will not be owned by any single entity and thus presents an incredible opportunity to create a participatory and collaborative non-zero-sum environment based on openness, equitability, user governance, and digital property rights. We're proud that our partnership with Brinc is powering accelerator programs that support founders to innovate in and scale up the creator economy."

While Manav Gupta, the founder and CEO of Brinc, says the company believes the metaverse is not just a destination but a new way of talking about an equitable and more sustainable future. 

"As digital experiences develop, we will find ourselves having fewer reasons to emit carbon to travel for work or play," he says. "We may even reduce purchases of physical world products (art, collectables, merchandise, etc.) that usually have highly unsustainable means of production and are significant contributors to climate change.

"New metaverse startups and Web 3.0 technologies have the potential to not only develop new ways to work and play but also to democratise access to financial services, education and entertainment. We believe that for the metaverse to thrive, we need developers and content creators to thrive - and this accelerator provides the perfect platform to enable them to do so."
 

Related stories
Top stories
Story image
Employment
Tech job moves - Forcepoint, Malwarebytes, SolarWinds & VMware
We round up all job appointments from May 13-20, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Vectra AI
Understanding the weight on security leader’s shoulders, and how to shift it
Millions of dollars of government funding and internal budgets are being funnelled into cybersecurity to build resilience against sophisticated threats, indicating how serious this issue has become.
Story image
Cybersecurity
More than 40% of banks worried about cloud security - report
Publicis Sapient's new report finds security and the lack of cloud skills and internal understanding of business benefits are big obstacles for banks moving to the cloud.
Story image
Ransomware
Alarming surge in Conti Ransomware Group activity - report
A new report has identified a 7.6 per cent increase in the number of vulnerabilities tied to ransomware in Q1 2022.
Story image
Artificial Intelligence
SAS announces new products amid cloud portfolio success
Analytics and AI company SAS is deepening its broad industry portfolio with offerings that support life sciences, energy, and martech.
Story image
Adyen
Adyen expands partnership with Afterpay as BNPL payments increase
Adyen has expanded its partnership with AfterPay allowing more of Adyen’s merchants in more countries worldwide to use the BNPL provider.
Story image
Cybersecurity
Hard numbers: Why ambiguity in cybersecurity no longer adds up
As cybersecurity costs and risks continue to escalate, CEOs continue to struggle with what their investment in cyber protection buys. Getting rid of ambiguity becomes necessary.
Story image
Artificial Intelligence
ForgeRock releases Autonomous Access solution powered by AI
ForgeRock has officially introduced ForgeRock Autonomous Access, a new solution that uses AI to prevent identity-based cyber attacks and fraud.
Story image
Infrastructure
Nutanix study reveals financial services sector lagging with multicloud adoption
Nutanix has released new research that reveals the financial services sector is lagging behind when it comes to multicloud adoption.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Data Protection
Barracuda launches new capabilities for API Protection
"Every business needs this type of critical protection against API vulnerabilities and automated bot attacks," Barracuda says.
Story image
Fintech
Airwallex launches new bank feed integration with NetSuite
Airwallex has launched a new bank feed integration with NetSuite, developed in partnership with NetSuite solution partner, Onlineone.
Story image
Telstra
Telstra, Google and Accenture launch 5G AR experience for AFL
Telstra, Google and Accenture are developing a new 5G powered augmented reality (AR) experience at Melbourne's Marvel Stadium for the footy season.
Story image
SaaS
Atturra partners with Focus HQ to support Aus organisations
Atturra has executed a partnership agreement with Focus HQ, to resell and support the company's Australian developed SaaS-based portfolio management platform.
Story image
Attain
Revenue operations is taking centre stage
As the business world continues to evolve, new demands need to be met to keep up with the ever-changing landscape. 
Story image
Phishing
Google reveals new safety and security measures for users
Google's new measures include automatic two step verification, virtual cards and making it easier to remove contact information on Google Search results.
Story image
Artificial Intelligence
SAS unveils AI experience to improve kids' batting abilities
SAS has created The Batting Lab, an interactive experience using AI, computer vision and IoT analytics to help kids improve their baseball and softball swings.
Story image
Alteryx
Decision Inc. Australia enters partnership with Alteryx
Independent data and analytics consultancy Decision Inc. Australia has partnered with automated analytics company Alteryx, expanding its offering to clients.
Story image
Safety
Voxel hits total funding of $18M following ongoing wins
Since raising its seed round in September, Voxel has grown at pace, by decreasing on-site injuries by upwards of 80% and increasing operational productivity.
Story image
Public Cloud
Cloud adoption still a work in progress, NetApp finds
NetApp has announced the results of the annual Cloud Infrastructure Report based on a survey of public cloud business and IT decision makers.
Story image
Talend
Talend introduces new data health solutions for businesses
Talend has announced its latest version of Talend Data Fabric, with the release of Talend Trust Score enabling data teams to establish a foundation for data health.
Story image
Microsoft
SAS Viya on Microsoft Azure to deliver 204% return - study
The Forrester Total Economic Impact study finds SAS Viya on Microsoft Azure brings a 204% return on investment over three years.
Story image
Mobility
Hands-on review: STM laptop bags
The advent of hybrid working has meant we need laptop bags. We got our hands on two of the most popular laptop bags from STM.
Story image
Customer experience
Research unveils precarious customer loyalty for retailers
New research has found customers are reassessing established brand loyalties as their priorities and behaviours shift.
Story image
Testing
Google and CSIRO use AI to help protect the Great Barrier Reef
Google has partnered with CSIRO in Australia to implement AI solutions that help protect the Great Barrier Reef.
Story image
Wasabi Technologies
Wasabi opens new cloud storage in Australia with Equinix
Wasabi Technologies has opened a new hot cloud storage region in Sydney, Australia, using Equinix services. This is the company's 12th global storage region.
Story image
Remote Working
IT teams deploy powerful technologies to enable remote work
"We found that IT teams mastered the challenges of remote work last year in large part by employing powerful yet easy-to-use technologies."
Story image
Sisense
Data and analytics could be key to higher selling prices in APAC
Sisense's latest report has found that almost half of data professionals in APAC think customised data and analytics can create better selling prices for their products.
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
Ransomware
A third of companies paying ransom don’t recover data - report
Veeam's report finds 76% of businesses who are victims of cyberattacks paid the ransom to recover data, but a third were still unable to get their information back.
Story image
Tech job moves
Tech job moves - Datacom, Micro Focus, SnapLogic and VMware
We round up all job appointments from May 6-12, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Digital Transformation
Trading up: It's time to swap core systems for flexible digital applications
This year will see more oranisations planning and commencing high tech renovations that will shake up the way they operate.
Story image
Microsoft
Microsoft unveils adaptive accessories for disability access
Microsoft is introducing an expansive Inclusive Tech Lab to give people with disabilities greater access to technology through new software features and adaptive accessories.
Story image
Remote Working
How organisations can meet employees' changing expectations
The global employment market has shifted dramatically in favour of employees, sparking the so-called great resignation, in which people are leaving unsatisfying roles in search of greener pastures.
Story image
SAS
New SAS service overcomes subscription fatigue for media companies
SAS has launched SAS 360 Match which helps media companies move towards a AVOD model to generate revenue as subscribers cancel.
Story image
Artificial Intelligence
Clear Dynamics closes $35M funding round, invests in global growth
The funding is a major milestone and speaks to Clear Dynamics’ vision for AI-enabled ‘composable’ enterprise software, the company states.
Story image
Digital Transformation
Why enterprise records management should be part of any digital transformation strategy
Modern organisations create and rely upon an enormous volume of content, and digital records make up a significant proportion of that content.
Story image
Excel
Could your Excel practices be harming your business?
While Excel has been the de-facto standard for budgeting, planning, and forecasting, is it alone, enough to support organisations in the global marketplace that’s facing rapid changes due to digital transformation?
Story image
Remote Working
Australia’s remote workers face connectivity and security issues
SOTI's new report finds better video conferencing technology and improved security measures are top concerns for remote workers in Australia.
Story image
Manufacturing
HINDSITE wins Aerospace Xelerated Pitch Challenge with solution to support Boeing
Brisbane-based startup HINDSITE was the winner of the first ever Pitch Challenge organised by Aerospace Xelerated in partnership with Queensland XR Hub. 
Story image
Kodari Securities (KOSEC)
NFT trends and opportunities: expert reveals all
The NFT market is growing at an exponential rate, with unprecedented liquidity. Here we explore how businesses can profit.
Story image
Artificial Intelligence
CFOs using digital workers and AI to prevent unnecessary loss
New technology is now allowing CFOs to use digital workers to automate their accounting processes, making it easier for them to avoid unnecessary losses.
Story image
Digital Transformation
The Huawei APAC conference kicks off with digital transformation
More than 1500 people from across APAC have gathered for the Huawei APAC Digital Innovation Congress to explore the future of digital innovation.
Story image
Artificial Intelligence
SAS launches human-focused responsible innovation initiative
SAS has launched a responsible innovation initiative, furthering its commitment to equity and putting people first.