Home Editor's Pick Sandbox DAO: The Sandbox Introduces Decentralized Governance & $25M SAND Treasury

Sandbox DAO: The Sandbox Introduces Decentralized Governance & $25M SAND Treasury

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The Sandbox, a popular decentralized gaming platform, has announced the launch of its decentralized autonomous organization (DAO) called The Sandbox DAO. This new initiative will allow SAND token holders and virtual LAND owners to participate in the platform’s governance by voting on projects and proposing improvements through Sandbox Improvement Proposals (SIPs).

TLDR

The Sandbox has launched its decentralized autonomous organization (DAO) called The Sandbox DAO, allowing SAND and LAND owners to vote on platform projects and improvements.
The DAO will be implemented in three phases, with phase one starting on May 28, enabling the community to vote on Sandbox Improvement Proposals (SIPs).
The Sandbox DAO aims to enhance transparency and community involvement in the platform’s growth and ecosystem.
The DAO will be composed of a Council and Advisors, with the Council reviewing SIPs and providing guidance, and Advisors acting as cultural ambassadors and strategic advisors.
The Sandbox DAO Foundation will be established to manage the decisions and operations of the DAO, including the treasury and support team.

The implementation of The Sandbox DAO will take place in three phases, with the first phase beginning on May 28.

During this phase, the community will be able to vote on SIPs; however, some operations, such as finance, will still be managed by The Sandbox staff.

As the DAO progresses through the phases, it will gain more autonomy and become self-reliant, no longer dependent on The Sandbox’s staff.

The Sandbox team believes that a gaming open metaverse must be governed by all users, including creators, players, and LAND owners, to ensure its longevity and push the boundaries of the community.

The launch of The Sandbox DAO marks a significant milestone in their journey to build an open metaverse together, empowering the community to actively participate in the platform’s governance and growth.

The Sandbox DAO will be composed of two critical groups: the Council and Advisors:

The Council will be responsible for reviewing SIPs and providing guidance on proposals, ensuring they align with the DAO’s vision and community interests.
The Advisors will act as cultural ambassadors and strategic advisors, leveraging their expertise and networks to guide the DAO toward achieving its vision of a decentralized, vibrant metaverse.

To support the DAO’s operations, The Sandbox DAO Foundation will be established as the steward tasked with administering the decisions of the DAO and managing the accompanying operations, including the treasury and employment of the DAO support team.

The first three SIPs that eligible community members can vote on are foundational, granting the right for the DAO to exist and establishing the budget for the first year.

Two additional SIPs are currently live for voting, focusing on the positive impact that The Sandbox can drive on the real world, such as carbon capture and humanitarian efforts with the Red Cross.

The introduction of The Sandbox DAO is designed to foster trust and promote a sense of belonging among the members of the community by being transparent about every decision and process.

The Sandbox team believes that this transparency will not only ensure clarity but also foster a community where every individual’s contribution is valued and considered.

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