Sandbox unveils The Sandbox DAO to make the virtual world fully community-driven

As a crypto investor with experience in the gaming and decentralized finance (DeFi) space, I’m excited to see The Sandbox launching its DAO, which will give token holders and NFT owners more control over the platform’s development. This community-driven approach is becoming increasingly common in the crypto world and has the potential to create a more engaging and dynamic ecosystem.

The decentralized gaming platform, Sandbox, has introduced The Sandbox DAO – a self-governing body utilizing decentralized autonomous organization (DAO) technology.

In simpler terms, users with the DAO‘s native token SAND and LAND NFTs can propose and vote on suggested enhancements or modifications for The Sandbox project through official documents called Sandbox Improvement Proposals (SIPs).

Individuals possessing a minimum of five SAND tokens or one LAND token are granted the right to participate in voting on the first three initiatives that will set the DAO in motion.

The Sandbox developers will cede the bulk of their authority to the community, while holding on to certain responsibilities.

Community members will play a significant role in deciding where to direct essential resources for our platform’s development, including selecting the theme for the next Game Jam, according to the Sandbox team’s announcement.

The DAO will be launched in three phases, with the first phase set to begin on May 28.

Based on the Sandbox team’s announcement, a three-stage deployment is planned to facilitate thorough testing and address any potential problems that may arise after the launch. Their ultimate objective is to achieve long-lasting success.

As a responsible crypto investor, I believe in taking a thoughtful and calculated stance when it comes to growing my portfolio. The team’s decision to adopt a methodical strategy aligns with my personal investment philosophy.

During the second stage, labeled as the “exploration phase,” the project aims to distinguish itself as an independent entity from Animoca Brands.

The final phase will see the project become fully independent and community-driven.

In addition to being shaped by the collective input of the community, the DAO will be steered by a council and consultants. Joining this group will be Sebastien Borget, COO and co-founder of The Sandbox.

As a crypto investor, I’m part of an impressive lineup that includes Yat Siu, the chairman of Animoca Brands, Shannon Snow, the COO of World of Women, and Jean-Michel Pailhon, the founder of Grail Capital. Each of us brings unique expertise to the table.

Council members will review all SIPs and provide feedback.

The team stated that they convene every other week for the assessment of SIPs (Proposals for System Improvements). They possess the authority to reject suggestions if they perceive any legal issues, inconsistency with the DAO‘s objectives, or superfluous nature.

In simple terms, The Sandbox has emerged as a preferred choice for individuals curious about the metaverse, attracting notable investors such as Forbes.

Despite its popularity, the price of SAND is down 94.7% from its all-time high in 2021. 

Read More

2024-05-28 13:02