The Sandbox, a prominent decentralized gaming virtual world, has officially unveiled The Sandbox DAO, marking a significant step in its goal to establish an open Metaverse controlled by its community. This move highlights The Sandbox’s dedication to decentralization, granting users a direct role in shaping the platform’s future developments and projects.
In a recent statement, The Sandbox outlined its vision: “At The Sandbox, we are constructing an open Metaverse where individuals worldwide have the opportunity, using our tools and platform, to own their creations, publish unique experiences on virtual LANDs, and engage with others in novel and meaningful ways. With a user base exceeding five million, The Sandbox ecosystem was created utilizing blockchain technology, incorporating Web3 aspects and NFTs, with the ultimate aim of allowing the platform to be managed by the community it serves.”
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Community-Centric Governance
The Sandbox DAO introduces a decentralized governance model enabling users to participate in decisions regarding the platform’s growth. Community members, including players, creators, LAND owners, and brands, can now propose and vote on various topics such as:
– Enhancements to products and new gameplay features
– Communication tools like emojis and voice chat
– Avatar functionalities and platform events
– Reward systems and player status based on LAND and NFT ownership
Arthur Madrid, CEO & Co-Founder of The Sandbox, stressed the significance of community governance, stating “We believe 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 completely decentralized decision-making system, empowering people. We anticipate that Fortnite or Roblox will adopt it at some point.”
The journey towards decentralization commenced in 2020 with the introduction of SAND utility tokens, enabling creators to purchase and sell virtual plots of LAND, share their creations, and earn SAND tokens that could be exchanged globally for fiat currency. Today, SAND stands as 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, saying “The launch of The Sandbox DAO signifies a significant milestone in our quest to build the open Metaverse, together. Four years ago, we began empowering a new generation of creators through decentralization, blockchain, and NFTs. These creators now form a digital nation in the making, holding the power to shape the platform’s evolution and the initiatives it will support.”
The Rollout Plan
The launch of The Sandbox DAO will unfold in three phases:
Phase One – DAO Debut (Commencing May 28th):
During this initial 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 managed by The Sandbox staff, the DAO will begin functioning with its tools and funds.
Phase Two – Exploration:
The DAO will gain autonomy, becoming more self-reliant and less reliant on The Sandbox’s staff.
Phase Three – Full Launch:
This phase will fully empower the community to propose and vote on SIPs, fostering a decentralized decision-making process. SIPs will be more organically submitted, with a reduced curation process, allowing for a broader 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, laying a strong foundation for the DAO’s future operations.
Furthermore, a dedicated Sandbox DAO Foundation will oversee the DAO’s operations, including the treasury and the employment of a support team. This foundation will ensure the smooth execution of DAO decisions and the sustainable growth of the platform.
The Initial SIPs
The first five SIPs have been proposed by The Sandbox DAO leadership team, focusing 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 launch of The Sandbox DAO aims to build trust and foster a sense of community among its members. By ensuring transparency in every decision and process, The Sandbox strives to create a platform that is not only designed for the community but also by the community.
The DAO represents a commitment to active involvement, inclusivity, and transparency, paving the way for a genuinely 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 advance a collective vision of innovation and inclusivity.