The Sandbox, a prominent decentralized gaming virtual world, has officially debuted The Sandbox DAO, a significant step in its goal to establish an open Metaverse governed by its community. This move highlights The Sandbox’s dedication to decentralization, allowing users to directly influence the platform’s future developments and initiatives.
In a recent statement, The Sandbox shared its vision: “At The Sandbox, we are constructing an open Metaverse where individuals worldwide can use our tools and platform to own their creations, publish unique experiences on virtual LANDs, and connect with others in meaningful ways. With a user base exceeding five million, The Sandbox ecosystem was built using blockchain technology, integrating Web3 elements and NFTs, paving the way for the platform to be operated and managed by the community it serves.”
The Sandbox DAO has been introduced as a means to shape the future of the platform, serving as a bridge between gaming, entertainment, music, art, and more. Follow @TheSandboxDAO for further updates. It’s now time for you to govern!
Community-Centric Governance
The Sandbox DAO introduces a decentralized governance model that enables users to take part in decisions concerning the platform’s development. Community members, including players, creators, LAND owners, and brands, can now submit proposals and vote on various topics such as product enhancements, communication tools, avatar utilities, and reward mechanics based on LAND and NFT ownership.
Arthur Madrid, CEO & Co-Founder of The Sandbox, stressed the significance of community governance, stating, “We believe that a gaming open Metaverse must be governed by all users – creators, players, and LAND owners – to make it timeless and push the boundaries of our community. Blockchain technology enables a fully decentralized decision-making system, empowering people. We anticipate that Fortnite or Roblox will adopt this approach at some point.”
The journey towards decentralization began in 2020 with the introduction of SAND utility tokens, allowing creators to buy and sell virtual LAND plots, publish their creations, and earn SAND tokens that could be exchanged globally for fiat currency. Today, SAND is a top 10 gaming token and a top 100 cryptocurrency, with applications extending beyond The Sandbox platform.
Sebastien Borget, COO & Co-Founder of The Sandbox, reflected on this journey, stating, “The launch of The Sandbox DAO marks a significant milestone in our quest to build the open Metaverse together. Four years ago, we started empowering a new generation of creators through decentralization, blockchain, and NFTs. These creators are now the citizens of a digital nation in the making, possessing the power to shape the platform’s evolution and initiatives it will support.”
The Rollout Plan
The launch of The Sandbox DAO will unfold in three phases:
Phase One – DAO Debut (Beginning May 28th):
During this phase, SAND and LAND owners will vote on Sandbox Improvement Proposals (SIPs). Community members can propose SIPs via the DAO’s website and email submissions. While some operations will still be overseen by The Sandbox staff, the DAO will start functioning with its tools and funds.
Phase Two – Exploration:
The DAO will gain more autonomy, becoming increasingly self-sufficient and less reliant on The Sandbox’s staff.
Phase Three – Full Launch:
This phase will empower the community to propose and vote on SIPs fully, fostering a decentralized decision-making process. SIP submissions will be more organic, and the curation process will be streamlined, allowing for a wider range of community-driven initiatives.
The Sandbox DAO will consist of two primary groups: the Council and Advisors. The Council will review SIPs to ensure alignment with the DAO’s vision and community interests, with the authority to veto proposals based on legality, redundancy, conflict, and community interests. Trusted partners have been chosen to form the initial Council, establishing a solid foundation for the DAO’s future operations.
Additionally, a dedicated Sandbox DAO Foundation will manage the DAO’s operations, including the treasury and support team employment, ensuring the smooth implementation of DAO decisions and platform’s sustainable growth.
The Initial SIPs
The initial five SIPs proposed by The Sandbox DAO leadership team focus on foundational governance and impactful initiatives:
SIP 1 – Introducing The Sandbox DAO:
This SIP introduces the DAO and its constitution.
SIP 2 – The Sandbox DAO Foundation:
This establishes the Foundation to support the DAO’s operations.
SIP 3 – Year One Budget:
This outlines the budget for the first year, allocating 25 million SAND for various initiatives.
SIP 4 – Carbon Capture (with NZC):
This environmental initiative involves purchasing CDR tokens to offset CO2 emissions.
SIP 5 – Red Cross (with Yobike):
This humanitarian initiative involves selling NFTs to support the Red Cross.
The introduction of The Sandbox DAO aims to foster trust and a sense of community among its members. By ensuring transparency in every decision and process, The Sandbox seeks to create a platform built for the community and by the community.
The DAO signifies a commitment to active participation, inclusivity, and transparency, paving the way for a truly open Metaverse governed by its users. The launch of The Sandbox DAO marks a pivotal moment in the platform’s evolution, empowering its community to shape the future of the open Metaverse and drive a collective vision of innovation and inclusivity.