The Sandbox, a gaming platform that operates in a decentralized manner, has recently announced the launch of its decentralized autonomous organization (DAO) called The Sandbox DAO. This new initiative will be implemented in three distinct phases, allowing holders of The Sandbox’s native token, SAND, and owners of virtual LAND, which are nonfungible tokens representing in-game plots, to actively participate in the platform’s governance. Through the DAO, SAND holders and NFT owners will have the ability to vote on various projects and propose improvements by submitting Sandbox Improvement Proposals (SIPs).
The first phase of the DAO implementation is set to commence on May 28th. During this phase, the community will be given the opportunity to vote on SIPs. However, it’s important to note that certain operational aspects will still be managed by The Sandbox staff.
Moving on to phase two, which is referred to as the “exploration” phase, the goal is for The Sandbox DAO to become self-reliant and separate itself from its parent company.
Finally, in phase three, the DAO is expected to be fully functional and capable of facilitating community-driven governance.
The Sandbox team provided further insights into the rationale behind this three-phase rollout. According to them, it allows for a gradual transition towards decentralization and ensures a smooth and effective implementation of the DAO.
Additionally, The Sandbox team has announced the formation of a leadership team consisting of a council and advisers who will offer guidance and support to the DAO. The council will collaborate with trusted partners to develop the DAO, while the advisers will provide their expertise and advice.
The council members include Sebastien Borget, the co-founder and chief operating officer of The Sandbox; Yat Siu, the chairman of Animoca Brands; Shannon Snow, the chief operating officer of World of Women; and Jean-Michel Pailhon, the founder of Grail Capital.
When questioned about the council’s accountability to the community, The Sandbox assured that they are committed to transparency and will actively engage with community members to ensure their voices are heard.
To kickstart the DAO’s operations, community members who own a minimum of five SAND tokens or one LAND will have the opportunity to vote on three initial SIPs that are considered foundational proposals.
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