KEY POINTS
Metaverse platform The Sandbox has announced the launch of its decentralized autonomous organization (DAO).
The DAO empowers members to influence the platform’s trajectory, impacting game aesthetics and interactivity by casting votes on Game Jams and VoxEdit contests.
“Since the release of The Sandbox Whitepaper in 2020, we’ve imagined a world where our vibrant community of players, creators, owners, and brands shape the future of the platform with us,” mentioned The Sandbox on its DAO web page.
“With its launch, we begin a new, digital nation, where our community members become citizens, able to vote and participate in decisions that contribute to the growth of The Sandbox ecosystem.”
To participate in the DAO, users must hold at least five SAND tokens or one LAND. Sandbox Improvement Proposals (SIP), falling under nine proposal categories, will be regularly posted for consideration every two weeks.
Members’ voting power will be determined by their holdings in SAND and LAND across both Ethereum and Polygon networks.
Currently, three proposals are active: one seeks approval for the DAO’s constitution; another aims to formalize The Sandbox Foundation’s role and formation as the legal entity supporting the DAO; and a third proposes the initial DAO budget of 15,500,000 SAND, equivalent to over $6.9 million.
The launch of the DAO underscores The Sandbox’s commitment to granting the community a voice and acknowledging its contributions. This move echoes a similar initiative in 2023 when The Sandbox partnered with the digital reward platform Rewardable, emphasizing a strategic focus on enhancing user engagement and rewarding experiences within the metaverse.
