The Sandbox DAO: A New Era of Governance in the Metaverse

Introducing The Sandbox DAO ☑️ We're shaping the future of our platform as a bridge between gaming, entertainment, music, art, and more!

Gaming platform The Sandbox has announced the launch of its decentralized autonomous organization (DAO) to empower the community in shaping the future of the metaverse.

Announced on May 29, the launch marks a new era of governance for The Sandbox. With the DAO, SAND holders and LAND owners can now participate in decision-making processes that will determine the direction of the platform.

The Sandbox DAO will operate with an annual budget of 25 million SAND (roughly $11 million), which will be used to fund community-driven projects and initiatives. Notably, the DAO will also oversee the distribution of SAND rewards.

The first-ever Sandbox Improvement Proposal (SIP) was also introduced by the DAO, outlining the constitution of the organization. Community members are invited to vote on this SIP, with a “Yes” vote indicating approval of the constitution.

The announcement was met with enthusiasm by the crypto community, with many applauding the move toward decentralization.

“A true community voice always matters! Having a DAO just brings the best of decentralization to its core decision making,” commented one user on Twitter.

However, some community members also voiced their concerns regarding the limitations of the Sandbox game, hoping that their pleas would now be heard.

“ALL resources should be directed at getting Sandbox on MetaQuest headsets. There is *no metaverse* without *VR*,” wrote one user.

According to the Medium article, the launch of the Sandbox DAO will unfold in three phases, gradually increasing the community’s autonomy.

In the first phase, an appointed council of five members will oversee the DAO. These members, selected from renowned organizations, will guide the DAO during its foundational stage.

“We are thrilled to announce the launch of The Sandbox DAO, a major milestone in our vision of an open gaming metaverse governed by creators, players, and LAND owners,” said Arthur Madrid, co-founder and CEO of The Sandbox.

“The launch of the DAO cements our commitment to decentralization and marks the beginning of a new era for The Sandbox.”

The launch of the DAO is a significant development in the metaverse landscape, as it places the community at the heart of decision-making processes.