The Sandbox, a decentralized gaming platform, has recently announced the launch of its decentralized autonomous organization (DAO), known as The Sandbox DAO.
The implementation of the DAO initiative will occur in three distinct phases, providing opportunities for The Sandbox (SAND) holders and owners of virtual LAND, which are nonfungible tokens (NFTs) that represent in-game plots. These individuals will have the ability to vote on various projects and propose improvements through Sandbox Improvement Proposals (SIPs).
The first phase, commencing on May 28, will allow the community to vote on SIPs. However, The Sandbox staff will still be responsible for managing certain operations.
During a discussion with Cointelegraph, The Sandbox team explained the reasoning behind the three-phase rollout, stating:
“In phase one, we want to slowly start to decentralize our decision-making process and give more power to our community. In phase two, we will continue this process by exploring how the DAO can become more self-reliant and independent from the parent company. Finally, in phase three, we aim to have a fully operational DAO that is governed by the community.”
Furthermore, The Sandbox team has announced the formation of a leadership team, which includes a council and advisers who will provide guidance and support for the DAO. The Council will collaborate with trusted partners to aid in the development of the DAO, while the advisers will offer their expertise.
The Council members consist of 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.
When questioned about how the Council will be accountable to the community in their respective roles, The Sandbox responded:
“We believe in transparency and accountability. The Council will regularly communicate with the community, providing updates and seeking feedback on important decisions. We want to ensure that the community’s voice is heard and that their interests are represented.”
In addition, community members who possess at least five SAND or one LAND will have the opportunity to vote on three initial SIPs, which are foundational proposals aimed at initiating the operations of the DAO.
Overall, The Sandbox’s introduction of the DAO marks an important step towards community-driven governance within the decentralized gaming platform. With the implementation of the three-phase rollout, The Sandbox aims to empower its users and create a more inclusive and collaborative gaming experience.