Ethereum
Ethereum Game “The Sandbox” Launches DAO to Let Players Shape Its Future
The sandboxA Ethereum-base metaverse gaming platform, announced Tuesday that it had launched a DAO– or decentralized autonomous organization – to allow token holders to help shape the future of the game and its economy.
Owner users NFTLAND plots based on plots or holding the game’s SAND token will be able to propose and vote on governance decisions regarding gameplay upgrades and feature additions, future events and rewards initiatives, how the ” Player status” will be determined based on asset ownership and other potential aspects. from The Sandbox universe.
“We believe that an open gaming metaverse should be governed by all users: creators, players and LAND owners, to make it timeless and push the boundaries of our community,” said Arthur Madrid, co-founder and CEO of The Sandbox. blog post. “Blockchain technology enables a fully decentralized system of decisions and power for people.”
A DAO is a decentralized community of people with aligned interests or goals, and membership is typically represented by ownership of assets, whether a fungible token or an NFT.
The rollout is happening in three phases, with the first phase starting Tuesday. In this initial phase, SAND token and LAND plot owners can vote on Sandbox Improvement Proposals (SIPs) submitted by the community via email. A board comprised of Sandbox executives and partners from companies like Animoca Brands will review and guide the proposals.
In a later second phase, called “Exploration”, The Sandbox will cede more power to the DAO and will no longer be in charge of community interactions. Ultimately, the DAO will be completely independent in a third phase and will be responsible for the entire process of proposing and voting on ideas. The phased rollout reflects a path of gradual decentralization.
“We want to ensure a thoughtful and well-executed launch,” reads a blog post on the DAO. “This allows us to test and iterate the features of the DAO as we progress, allowing us to learn from any challenges that arise and make necessary adjustments along the way, ultimately leading to to a more robust and more efficient system.”
Five initial SIPs are now up for a vote, including plans to introduce the constitution of the DAO, establish a DAO foundation to administer the decisions, approve an annual budget of 25 million SAND (worth approximately 11 million dollars), to invest in a carbon capture project and to partner with the Red Cross to help raise funds for humanitarian efforts.
“The launch of The Sandbox DAO marks an important milestone in our journey to build the open metaverse together,” said co-founder and COO Sébastien Borget, in the post. “Four years ago, we began empowering a new generation of creators through decentralization, blockchain and NFTs. These creators are now citizens of an emerging digital nation and hold the power to decide how the platform should evolve and what initiatives it will support.
Editor’s note: This article was written with the help of AI. Edited and verified by Andrew Hayward.