The Sandbox, a leading decentralized gaming platform, has announced the launch of its decentralized autonomous organization (DAO), The Sandbox DAO.
This initiative aims to empower its community through a structured, phased approach backed by a 25 million $SAND Treasury.
The Sandbox DAO gives the community more control. Members with at least five SAND tokens or one LAND NFT can vote on important decisions. The goal is to shape the platform’s future, bridging gaming, entertainment, music, art, and more. Council members include Sebastien Borget, co-founder and COO of The Sandbox, and Yat Siu, chairman of Animoca Brands.
The DAO will be rolled out in three phases: Initiation, Exploration, and Full Operational Status. This phased approach allows testing and iterating on the DAO’s functionality, addressing challenges, and making necessary adjustments.
In the first phase, starting on May 28, holders of The Sandbox tokens and virtual LAND NFTs can vote on SIPs. The Sandbox staff will still manage some operations during this phase. In the second phase, The Sandbox DAO will become more self-reliant, gradually decreasing its parent company’s involvement. By the third phase, the DAO will achieve full operational status, enabling community-driven governance.
LAND owners, experienced builders, voxel artists, and players all have reasons to join The Sandbox DAO. Whether influencing game aesthetics, shaping creative landscapes, guiding artistic direction, or participating in governance decisions, community members can play a significant role in the platform’s future.
This pivotal development has garnered support from external entities such as McDonald’s Hong Kong, Care Bears, Paris Hilton, and Steve Aoki.
McDonald’s Hong Kong emphasizes the opportunity to amplify brand awareness and attract customers already immersed in Web3. Care Bears highlights The Sandbox’s risk-taking spirit, which has ultimately paid off. Paris Hilton emphasized the platform’s alignment with broader business strategies, offering innovative experiences for her fanbase.
Steve Aoki also underscored The Sandbox’s ability to create engaging experiences and attract a new audience. These endorsements signify a vote of confidence in The Sandbox’s vision and potential to redefine the gaming experience in the digital age.
Despite the buzz surrounding the announcement, $SAND’s market performance witnessed minimal fluctuation, maintaining a steady trading price of $0.4447 at the time of publication.
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