The Sandbox launches The Sandbox DAO with 25M Sand Treasury

The Sandbox, a decentralized gaming platform, has announced the launch of its decentralized autonomous organization (DAO), called The Sandbox DAO. This initiative will be rolled out in three phases, giving holders of The Sandbox tokens and owners of virtual LAND NFTs (which represent in-game plots) the power to vote on governance matters. These community members will be able to vote on projects and suggest improvements through Sandbox Improvement Proposals (SIPs). The first phase, starting on May 28, will allow the community to begin voting on SIPs, although The Sandbox staff will still handle some of the operations.

Phase two of the DAO implementation is known as the “exploration” phase. During this stage, The Sandbox DAO is expected to become self-reliant, gradually separating from the parent company. By phase three, the DAO should be fully operational, allowing for complete community-driven governance. The Sandbox team explained the reasoning behind this three-phase rollout in a conversation with Cointelegraph.

“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.”

In the meantime, the Sandbox team also revealed the formation of a council and advisors to serve as the DAO’s leadership group. The advisers are in a position to offer advice and experience, and the Council is prepared to collaborate with reliable partners to assist build the DAO.

Jean-Michel Pailhon who is the founder of Grail Capital, Yat Siu, the chairman of Animoca Brands, Shannon Snow, the chief operating officer of World of Women, and co-founder and chief operating officer of The Sandbox, Sebastien Borget, are among the members of the Council.

The Sandbox responded to Cointelegraph when it was questioned how the Council would continue to be answerable to the community in their roles.

Residents may cast votes on three first SIPs, which are referred to as “foundational proposals to initiate the DAO’s operations,” provided they own five SAND or one LAND.