On Tuesday (28), the Ethereum-based metaverse gaming platform, The Sandbox, announced the launch of a DAO (game). This initiative will allow token holders to actively participate in decisions about the future of the game and its economy.
Users who own virtual land (LAND NFTs) or SAND tokens will be able to propose and vote on governance decisions. These decisions include, for example, gameplay updates, adding new features, future events, rewards initiatives, how player status will be determined based on asset ownership, and other potential aspects of The Sandbox universe.
“An open gaming metaverse must have governance for all users: creators, players and LAND owners. The goal is to make it timeless and expand the boundaries of our community,” said Arthur Madrid, co-founder and CEO of The Sandbox. “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. Stake is often represented by ownership of assets, whether a fungible token or an NFT.
The Sandbox launches DAO
According to the announcement, the launch of the DAO will take place in three phases, starting on Tuesday. In the initial phase, owners of SAND tokens and virtual land will be able to vote on Sandbox Improvement Proposals (SIPs), submitted by the community via email. A board made up of leaders from The Sandbox and partners from companies such as Animoca Brands will review and guide the proposals.
In the second phase, called “Exploration”, The Sandbox will transfer more power to the DAO and will no longer be responsible for community interactions. Eventually, in the third phase, the DAO will be completely independent, being responsible for the entire process of proposing and voting on ideas. This multi-phase rollout reflects a path of progressive decentralization.
“We want to ensure a thoughtful and well-executed launch,” says a blog post about the DAO. “This allows us to test and iterate the DAO’s functionality as we go, enabling us to learn from challenges as they arise and make necessary adjustments along the way, leading to a more robust and effective system.”
Five initial SIPs are available for voting, including plans to introduce the DAO constitution, establish a DAO foundation to manage decisions, approve an annual budget of 25 million SAND (about 11 million dollars), invest in a data capture project carbon and partner with the Red Cross to raise funds for humanitarian efforts.
“The launch of The Sandbox DAO marks a significant milestone in our journey to build the open metaverse together,” said Sebastien Borget, co-founder and COO, in the post.
Source: https://www.criptofacil.com/the-sandbox-anuncia-lancamento-de-uma-dao/
