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I did some research on Sanrio, and it appears they have a paid VRchat festival that they have in the past used vtubers to promote. They also have a variety of virtual performers, but they all have 3D models, which may disqualify PixelLink talents from participating.
If any vtubers wanted to collab with Sanrio, I wouldn't expect any collab merch with the Sanrio characters, but I would expect a lot of behind-the-scenes work and shilling of Sanrio's metaverse.