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The Sandbox Unveils Sandbox 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.

The Sandbox Unveils Sandbox DAO with $25M SAND Treasury

This initiative will be rolled out in three phases, allowing holders of SAND tokens and virtual LAND NFTs, which represent in-game plots, to participate in governance by voting on projects and proposing improvements through Sandbox Improvement Proposals (SIPs).

Phase one begins on May 28, enabling the community to vote on SIPs while The Sandbox staff continues to manage some operations. In a discussion with Cointelegraph, The Sandbox team explained:

"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 deciding the next Game Jam theme, community members will have a say in the platform's evolution and business priorities."

Phase two, termed the “exploration” phase, aims for The Sandbox DAO to become self-reliant, gradually reducing its dependency on the platform’s core team. By phase three, the DAO is expected to be fully operational, allowing for complete community-driven governance.

The Sandbox team emphasized the deliberate three-phase rollout to ensure a well-executed launch. This phased approach allows them to test and refine the DAO’s functionality, learning from challenges and making necessary adjustments to set up for sustainable long-term success.

In addition to the DAO's launch, a leadership team comprising a council and advisors has been established to guide the DAO. The Council will collaborate with trusted partners to develop the DAO, while advisors will offer guidance and expertise. Notable Council members include 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.

When asked about maintaining accountability to the community, The Sandbox stated that the Council will review all SIPs, providing feedback and meeting bi-monthly to review and potentially veto proposals based on legality, alignment with the DAO’s vision, or redundancy.

Community members who own five SAND or one LAND can vote on three initial SIPs, which are considered foundational for initiating the DAO’s operations.


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