🚨 Time is Running Out: Reserve Your Spot in the Lucky Draw & Claim Rewards! START NOW
Learn to gain real rewards

Learn to gain real rewards

Collect Bits, boost your Degree and gain actual rewards!

New
Video Courses
Video Courses
Deprecated
Scale your career with online video courses. Dive into your learning adventure!

Decentralized Governance in Action: The Sandbox Introduces DAO

Key Takeaways

  • The Sandbox has launched The Sandbox DAO, starting its three-phase rollout on May 28;
  • SAND token and LAND NFT holders can vote on governance and suggest improvements through Sandbox Improvement Proposals;
  • The DAO's phased approach ensures a well-executed launch, leading to full community-driven governance and operational independence in the final phase.
Decentralized Governance in Action: The Sandbox Introduces DAO

The Sandbox, a decentralized gaming platform, has officially launched The Sandbox DAO, its decentralized autonomous organization (DAO). The rollout will happen in three phases, starting on May 28.

It enables SAND token holders and LAND non-fungible token (NFT) owners to vote on governance issues and suggest enhancements through Sandbox Improvement Proposals (SIPs) while The Sandbox staff will oversee some operations.

According to The Sandbox team, community members will have the authority to participate in decisions ranging from fund allocation to choosing themes for events such as the Game Jam.

What is a Bitcoin & How Does it work? (Animated Explainer)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

What is a Bitcoin & How Does it work? (Animated Explainer)

What is a Bitcoin & How Does it work? (Animated Explainer) What is a Bitcoin & How Does it work? (Animated Explainer)

Community members holding at least five SAND tokens or one LAND NFT are eligible to vote on three initial SIPs deemed crucial for launching the DAO's operations.

Phase two, the "exploration" phase, will focus on making The Sandbox DAO self-sustaining, progressively reducing its dependence on the parent company.

By the third and final phase, the DAO is expected to achieve full operational independence with community-driven governance at its core.

The Sandbox team detailed the logic behind this phased approach:

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 <...>. We’re taking a deliberate and measured approach to ensure we’re prepared for sustainable growth.

A leadership team consisting of a council and advisers has been established. The council will collaborate with trusted partners to develop the DAO, while advisers will provide guidance and expertise. The Sandbox team clarified:

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.

Council members include Yat Siu, co-founder and CEO of Animoca Brands, Sébastien Borget, co-founder and COO of The Sandbox, and Jean-Michel Pailhon, co-founder of Grail Capital.

This initiative demonstrates The Sandbox's commitment to decentralization and community involvement, setting a precedent for how gaming platforms can evolve through collective governance.

In other news, game software company Animoca Brands has entered the Bitcoin ecosystem by launching the new OPAL Protocol.

Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

Loading...
binance
×
Verified

$600 WELCOME BONUS

Earn Huge Exclusive Binance Learners Rewards
Rating