The Sandbox launches its own DAO

The Sandbox, a decentralized gaming platform, has announced the launch of its decentralized autonomous organization (DAO), called The Sandbox DAO. This initiative will be implemented in three phases and will allow holders of The Sandbox and virtual LAND – non-fungible tokens (NFTs) that represent in-game plots of land – to vote on projects and propose improvements through Sandbox Improvement Proposals (SIPs). ).

Start of Phase One

Phase one begins on May 28 and will allow the community to vote on SIPs. However, The Sandbox staff will still make some edits during this initial phase. The Sandbox team stated the following:

The Sandbox DAO enables the community to help shape and drive the platform’s growth and ecosystem. From determining how we allocate crucial funds to the next Game Jam theme, community members will have a say in how this platform evolves and where the company focuses its time.

Future Phases

Phase two, known as the ‘exploration phase’, is expected to see a standalone Sandbox DAO operating separately from the parent company. In phase three, the DAO will be fully operational and enable community-driven governance. Regarding the phased approach, the Sandbox team said:

First of all, we want to ensure a well-thought-out and well-executed launch. This allows us to test and iterate on the functionality of the DAO, learning from any challenges and making necessary adjustments. Second, we understand the importance of setting ourselves up for long-term success. We take a deliberate and considered approach to ensure we are prepared for sustainable growth.

Leadership Team and Accountability

In addition, a leadership team consisting of a council and advisors was announced to help guide the DAO. The council will work with trusted partners to help develop the DAO, while advisors provide guidance and expertise.

Members of the board 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.

The Sandbox emphasized that the council will be accountable to the community by reviewing all SIPs and providing feedback. They meet bimonthly to review SIPs and can veto proposals based on legality, non-alignment with the DAO’s vision, or redundancy.

Community members holding five SAND or one LAND can vote on three initial SIPs, which are considered “fundamental proposals to initiate the activities of the DAO.”