THE SANDBOX LAUNCHES DAO WITH 25M SAND TREASURY 

The Sandbox, a decentralized gaming platform, has announced the launch of its decentralized autonomous organization (DAO), known as The Sandbox DAO.

Phased Implementation

The DAO initiative will be rolled out in three phases, allowing holders of SAND and virtual LAND NFTs to vote on platform projects and propose improvements through Sandbox Improvement Proposals (SIPs).

Phase One

Beginning on May 28, phase one enables the community to vote on SIPs, while some operations will still be managed by The Sandbox staff.

Sandbox Team’s Vision

The Sandbox team emphasized the importance of community involvement, stating: “The Sandbox 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

Phase two, dubbed the “exploration” phase, aims to make The Sandbox DAO self-reliant, gradually detaching from the parent company.

Phase Three

By phase three, the DAO is expected to be fully operational, facilitating community-driven governance. The Sandbox team explained the rationale behind the phased approach: “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. We’re taking a deliberate and measured approach to ensure we’re prepared for sustainable growth.”

Leadership and Governance

A leadership team composed of a council and advisers will guide the DAO. The council includes Sebastien Borget, co-founder and COO of The Sandbox; Yat Siu, chairman of Animoca Brands; Shannon Snow, COO of World of Women; and Jean-Michel Pailhon, founder of Grail Capital. They will work with trusted partners to develop the DAO and provide guidance and expertise.

Accountability and Voting

The council will review all SIPs, providing feedback and meeting bi-monthly to review proposals. They have the authority to veto proposals based on legality, misalignment with the DAO’s vision, or redundancy. Community members owning at least five SAND or one LAND can vote on three initial SIPs, which are foundational proposals to initiate the DAO’s operations.

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