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The Sandbox has Launched a $50 Million Metaverse Accelerator

Up to 100 entrepreneurs working to construct the open metaverse will be invested in and mentored by the game’s creators.

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#nft #nfthours #metaverse #sandbox #accelerator

The Sandbox, an Ethereum-based crypto game, has emerged as one of the early challengers in the space as the anticipation surrounding the coming metaverse grows. The Sandbox has also developed an accelerator program to invest in and coach entrepreneurs in the metaverse, both within and outside of the game world, to foster the development of metaverse ventures.

The Sandbox has pledged $50 million to invest in up to 100 firms working toward an open, interoperable metaverse, alongside parent company Animoca Brands, a leading metaverse and NFT gaming investor, and global innovation accelerator Brinc. Over the course of three years, the program hopes to work with 30 to 40 companies per year.

The Sandbox Metaverse Accelerator Program will be introduced as a track to Animoca and Brinc’s current Launchpad Luna collaboration, formed in 2021. Brinc’s $130 million financing round in December was also led by Animoca, as the accelerator looked to expand into Web3.

Although The Sandbox is leading the charge, the businesses don’t have to be in the gaming industry to be successful. The idea isn’t just to bring in creators to work on the game’s own metaverse experience, and it isn’t even limited to Ethereum.

Instead, it’s aimed at developers who wish to create interoperable platforms and parts that can function together in an open metaverse. The three-month online program will feature both coaching and funding, assisting projects in determining market readiness and connecting with partners, investors, and influencers.

However, there are sandbox-focused incentives in the mix. The initiative will invest between $150,000 and $250,000 in each firm, as well as up to $150,000 worth of the game’s SAND cryptocurrency. It will also offer grants of in-game land plots, or LAND, which may be personalized and even monetized within the game world and sold as NFT assets.

Borget and other members of The Sandbox team, Animoca Brands Executive Chairman Yat Siu, Yield Guild Games co-founder Gabby Dizon, Kabam co-founder Holly Liu, and Lympo co-founder and CEO Ada Jonuse are among the dozens of mentors who have signed up for the program.

The Sandbox already has a creator fund that recognizes and compensates game artists and developers. However, Sebastien Borget, co-founder and COO, said that he saw an increasing number of people who wanted to help develop the wider open metaverse but didn’t have the funds or support to do so.

“We observed people in the metaverse who wanted to create their own business, but we didn’t have any special funding or foundation to help them properly,” he stated.

While the program is looking for people who want to make items for The Sandbox, it also wants to hear about other metaverse projects. DeFi and esports initiatives, for example, are encouraged, and Borget noted that a virtual real estate platform—which may include games other than The Sandbox—could be a suitable fit. For example, the Sandbox and Decentraland, another Ethereum metaverse game, have seen a surge in virtual acreage in recent months.

Platforms and tools that enable one metaverse game or platform could eventually enrich all of them in an open, interoperable metaverse, as Borget, Animoca’s Siu, and Axie Infinity co-founder Jeff Zirlin have discussed, among others. That’s why, even if it stands to benefit from any ensuing products, this accelerator isn’t just focused on assisting The Sandbox.

“We’re looking for startups that add value to the overall ecosystem,” Borget said, “and we think The Sandbox will be a terrific platform for them to kick-start their journey.”

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To accelerate ecosystem growth, Fireblocks introduces Web3 Engine with developer tools

This set of tools is intended for developers working on DeFi, GameFi, and NFT products and services.

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Fireblocks, a digital assets custody platform, announced the debut of their new Web3 Engine to assist encourage the development of the Web3 ecosystem as the world moves closer to a decentralized future.

The dedicated Web3 engine contains a set of tools for developers to create goods and services in decentralized finance (DeFi), GameFi, and nonfungible currencies, the business revealed on Tuesday (NFT). For alternative asset managers and capital market participants, Fireblocks has opened up a world of decentralized programs (DApps), exchanges, NFT markets, and more.

“Web3 is the future,” Fireblocks CEO Michael Shaulov said, adding that “the Internet has already entered a new era.” According to Shaulov, in order for the Web3 ecosystem to continue to grow, the community must address a major issue: security.

Fireblocks’ new Web3 Engine, according to the announcement, makes it simple for developers to build DApps on top of Fireblocks’ tech stack or securely access the entire spectrum of current web3 apps. Web3 companies such as Animoca, Stardust, MoonPay, Xternity Games, Griffin Gaming, Wirex, Celsius, and Utopian Labs use Fireblocks to secure themselves from human mistake and hackers.

Web3 has sparked a lot of interest in the sector, as evidenced by the rise in market capitalization of Web3 coins in recent years. It’s an ecosystem that everyone can access from anywhere at any time, with no restrictions or middlemen. Many large corporations have made considerable investments in Web3’s potential.

Google Cloud has formed an internal team focused to developing services for blockchain developers and Web3-based application operators. With Metaverse involvement and NFT enthusiasm, industry titans like Meta and Amazon have entered the market. Square Enix, the gaming behemoth, recently announced that it would spend heavily in Web3 gaming.

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Is Fender quietly getting ready to enter the NFT market?

In order to preserve or launch its brand in web3, Fender has filed various NFT-related patents and trademark applications in the United States.

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Fender, a well-known guitar manufacturer, has filed three patents related to NFT with the US Patent and Trademark Office.

When it comes to developing, selling, or buying NFTs with the Fender brand name, the patents would suggest a purpose to make or protect its brand.

Fender filed a series of trademark applications linked to its headstock design in possible NFTs, according to GuitarWorld, including NFT collectibles, virtual products, pictures, artwork, video, and audio recordings featuring music and musical instruments.

Mike Kondoudis, a trademark attorney, noticed the application to the US Patent and Trademark Office, which was filed on April 28.

Source: Twitter

Fender isn’t the first guitar company to think about using NFTs. Billboard reported in January that Gibson, the legendary guitar brand and Fender rival, was preparing to join the NFT industry with six trademark applications connected to NFTs and digital goods.

Big brands, from Adidas to Gucci, have been fast to experiment with NFTs and the Metaverse as two new distribution channels. They’re still figuring out where they belong in the virtual worlds.

NFTs are being used by musicians to reinvent fan involvement

NFTs and the Metaverse are being used by many established bands and brands to redefine how they communicate with fans. Additionally, musicians that rely significantly on in-person concerts as a fundamental income source will find the revenue streams and royalties available by the sale of NFTs appealing.

Music producers and platforms such as Audius, DAOrecords, and TokenTraxx are collaborating with musicians to demonstrate the possibilities of Web3 technology and allow fans to be creative using NFTs.

As famous guitarists get involved in the NFT realm, guitar brands are naturally interested. Keith Richards sold one of his beloved guitars with an exclusive 1-of-1 Tezos blockchain NFT produced for $57,600 in January of this year. The guitar, as well as a digital replica in the shape of an NFT and a video of Richards signing the guitar, were all up for auction.

Since the beginning of the year, the number of NFT trademark applications has increased dramatically, with 3,306 applications filed between January and April.

Source: Twiter

Despite the applications, Fender has yet to reveal its plans for NFT.

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According to Music Ally, Spotify has begun testing NFTs on its platform

If a trial deployment goes well, artists may soon be allowed to market their non-fungible tokens (NFTs) on Spotify, according to Music Ally.

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Spotify, the most recent tech business to join the NFT bandwagon, entered the web3 world earlier this month with the introduction of “Spotify Island” on Roblox on May 3. Spotify will now test NFTs on the platform to specifically selected US consumers, starting with a single trial selection of artists, including Steve Aoki and The Wombats.

Users will have to purchase NFTs through an external marketplace, thus they won’t be able to sell them directly. As part of the trial, Spotify has stated that it will not take a portion of the sales.

Simultaneously, customers have stated that Spotify is sending out surveys and even paying some people to talk to team members about their feelings regarding NFTs and web3. Questions concerning sentiment, cryptocurrency purchases, and why people acquired NFTs have been circulated on Twitter. Some poster responded with mockery to the queries.

Since March, when Spotify placed two job offers for working on early-stage web3 projects, rumors have circulated that the firm was interested in entering the web3. The announcement comes only days after Meta revealed that it would begin testing digital collectibles and NFTs on Instagram as well.

By the time of publication, Spotify had not responded to a request for comment from The Block.

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