The Sandbox, a decentralized gaming platform, has launched The Sandbox DAO, its decentralized autonomous organization (DAO) for transparency and community involvement.
The DAO will grant virtual LAND and nonfungible tokens (NFTs) to the Sandbox holders representing in-game territories using a three-phase implementation process. Holders and NFT owners can exercise their voting rights and suggest enhancements via Sandbox Improvement Proposals (SIPs).
The community can vote on SIPs beginning on May 28 during Phase 1. Despite this, The Sandbox personnel will continue to oversee certain operations.
The Sandbox staff reported the following:
“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 the next Game Jam theme, community members will have a say in how this platform evolves and where the business focuses its time.”
The “exploration” portion of the DAO implementation is the second stage, during which The Sandbox DAO anticipates achieving self-sufficiency and detaching from its parent company.
The DAO is anticipated to be completely operational and facilitate community-driven governance by the end of phase three.
The Sandbox team provided further clarification regarding the justification for the three-phase implementation, stating:
“First, we want to ensure a thoughtful and well-executed launch. This allows us to test and iterate on the DAO’s functionality, enabling us to learn from any challenges and make necessary adjustments. Second, we understand the importance of setting ourselves up for long-term success. We’re taking a deliberate and measured approach to ensure we’re prepared for sustainable growth.”
Additionally, the Sandbox team disclosed the formation of a DAO-guiding leadership team consisting of a council and advisors. In addition to collaborating with reputable partners to aid in the development of the DAO, advisors will be available to offer guidance and specialized knowledge.
Jean-Michel Pailhon, founder of Grail Capital, is a Council member. Sebastien Borget is co-founder and chief operating officer of The Sandbox. Yat Siu is chairman of Animoca Brands. Shannon Snow is chief operating officer of World of Women.
The Sandbox replied to Cointelegraph when asked how the Council will maintain accountability to the community in their capacities:
“The Council reviews all SIPs and provides feedback. They meet bi-monthly to review SIPs and can veto proposals based on legality, misalignment with the DAO’s vision, or redundancy.”
“Foundational proposals to initiate the DAO’s operations” are the three initial SIPs that community members who owe five SAND or one LAND may vote on.
