TL;DR
- The Sandbox launches a DAO with a 25 million SAND Treasury.
- SAND and LAND owners can vote on platform projects.
- The DAO implementation will occur in three phases to ensure sustainable growth.
The Sandbox, a decentralized gaming platform, announced the launch of its decentralized autonomous organization (DAO), The Sandbox DAO.
The DAO initiative will be implemented in three phases, allowing The Sandbox (SAND) holders and virtual LAND owners — nonfungible tokens (NFTs) representing in-game plots — to vote on governance.
Introducing The Sandbox DAO ☑️ We're shaping the future of our platform as a bridge between gaming, entertainment, music, art, and more!
Follow @TheSandboxDAO for more. IT'S NOW YOUR TIME TO GOVERN! https://t.co/jFaf1VqJj1 pic.twitter.com/ZQaoUPMnpP
— The Sandbox (@TheSandboxGame) May 28, 2024
Holders and NFT owners can vote on projects and propose improvements through Sandbox Improvement Proposals (SIPs).
Phase one begins May 28 and will enable the community to vote on SIPs; however, the staff will still manage some operations.
In a discussion, The Sandbox team said:
“The DAO enables the community to help shape and drive the platform’s growth and ecosystem.
From determining how we allocate critical funds to the next Game Jam theme, community members will have a say in how this platform evolves and where the business focuses its time.”
Phase two of the DAO implementation is considered its “exploration” phase and is expected to see The Sandbox DAO become self-reliant — disentangling itself from the parent company.
By phase three, The Sandbox DAO is expected to be fully operational and enable community-driven governance
The Sandbox team elaborated on the rationale behind the three-phase rollout, telling that:
“First, we want to ensure a thoughtful and well-executed launch. This allows us to test and iterate on the DAO’s functionality, enabling us to learn from any challenges and make necessary adjustments.
Second, we understand the importance of setting ourselves up for long-term success.
We’re taking a deliberate and measured approach to ensure we’re prepared for sustainable growth.”
The team also announced a leadership team composed of a council and advisers to help guide the DAO. The Council is set to work with trusted partners to help develop the DAO, while advisers are positioned to provide guidance and expertise.
The Council members include Sebastien Borget, co-founder and chief operating officer of The Sandbox; Yat Siu, chairman of Animoca Brands; Shannon Snow, chief operating officer of World of Women; and Jean-Michel Pailhon, founder of Grail Capital.
