Sandbox launches Sandbox DAO with 25M Sand Treasury.

Sandbox, a decentralized gaming platform, has announced the launch of Decentralized Autonomous Organization (DAO) The Sandbox DAO.

The DAO initiative is implemented in three phases, representing Sandbox (SAND) containers and virtual LAND – in-game plots of Invulnerable Tokens (NFTs). Holders and NFT holders can vote on projects and propose amendments through Sandbox Amendment Proposals (SIPs).

Phase one will begin on May 28 and will allow the community to vote on SIPs. However, Sandbox staff still manages some tasks.

In a conversation with Cointelegraph, the Sandbox team said:

“The Sandbox allows the Dao community to shape and drive the development and ecosystem of the platform. From deciding how to allocate critical funds to the next Game Jam theme, community members provide feedback on how this platform should evolve and where the business should focus its time.

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Phase two of the DAO implementation is considered the “exploratory” phase and is expected to see the Sandbox DAO become self-reliant – extracting itself from the parent company.

In phase three, the DAO is expected to be fully operational and allow for community-driven governance.

The Sandbox team explained the reasoning behind the three-phase release, telling Cointelegraph:

“First, we want to ensure a thoughtful and well-executed launch. This allows us to test and iterate the functionality of the DAO, allowing us to learn from any challenges and make necessary adjustments. Second, we understand the importance of setting ourselves up for long-term success. We are taking a deliberate and measured approach to ensure we are prepared for sustainable growth.

The Sandbox Group announced a leadership team consisting of a council and advisors to help guide the DAO. The Council is committed to working with trusted partners to develop the DAO, with advisors positioned to provide guidance and expertise.

Council members include Sébastien Bourget, Co-Founder and Chief Operating Officer of Sandbox; Yat Siu, Chairman of Animoca Brands; Shannon Snow, Chief Operating Officer of Women's World; and Jean-Michel Pailhon, founder of Grail Capital.

When asked how the council will remain accountable to the community for its actions, Sandbox told Cointelegraph:

“Council reviews all SIPs and provides feedback. They meet monthly to review SIPs and can reject proposals based on legality, non-alignment with the DAO's vision, or renewal.

Community members who owe five Sands or one LAND can vote on three initial SIPs called “fundamental proposals to launch the DAO's operations.”

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