The Sandbox Introduces DAO for SAND Holders and NFT Owners
CryptoNewsTerminal Staff28 May, 2024
The Sandbox Introduces DAO for SAND Holders and NFT Owners
The Sandbox, an Ethereum-based metaverse game, has launched a decentralized autonomous organization (DAO) to enhance platform transparency and community engagement. This DAO is open to SAND token holders and NFT owners, empowering them to propose and vote on Sandbox Improvement Proposals (SIPs). The Sandbox DAO will operate with an initial treasury of 25 million SAND and will gradually expand through three phases: - Phase 1 (Governance Operations): SAND holders and NFT owners can propose and vote on SIPs, influencing platform development and governance. - Phase 2 (DAO and Parent Company Separation): The DAO will gain operational independence from The Sandbox parent company, ensuring unbiased governance. - Phase 3 (Community-Led Governance): The DAO will transition to full community control, with SAND holders and NFT owners making all governance decisions. This DAO launch marks a significant step towards community empowerment in The Sandbox ecosystem, allowing SAND holders and NFT owners to shape the platform's future and ensure its long-term growth.
