- Web3 game The Sandbox has launched a decentralized governing body
- Dubbed The Sandbox DAO, the body is meant to involve the gaming community in running the game
- The DAO has an initial budget of $11 million
Web3 game The Sandbox has indicated a need to involve gamers in running the project with the introduction of a decentralized governing body known as The Sandbox DAO. The body has an initial annual budget of $11 million. The DAO, which constitutes entities holding SAND tokens or the project’s LAND NFTs, will allow members to vote on upgrades and rewards among other critical aspects of the game, a move that allows gamers and other players in The Sandbox ecosystem to dictate the project’s roadmap.
Building an Open Metaverse
According to The Sandbox co-founder Arthur Madrid, opening up the project to “all users” is part of making the project timeless and exploring the boundaries of the community. He added that the decentralized nature of blockchains allows the same decentralization to be applied when making decisions.
Introducing The Sandbox DAO ☑️ We’re shaping the future of our platform as a bridge between gaming, entertainment, music, art, and more!
Follow @TheSandboxDAO for more. IT’S NOW YOUR TIME TO GOVERN! https://t.co/jFaf1VqJj1 pic.twitter.com/ZQaoUPMnpP
— The Sandbox (@TheSandboxGame) May 28, 2024
The Sandbox’s COO Sebastien Borget noted that the DAO is part of the project’s mission to build an open metaverse. In a blog post, the project disclosed that the DAO will be rolled out in three phases “with a treasury of 25 million SAND” tokens starting May 28.
The first phase will see SAND and LAND holders able to vote and propose improvement proposals. At this stage, however, the DAO will still be in the hands of The Sandbox staff. During the second phase, the DAO will break off from The Sandbox staff to become more autonomous. The third phase will involve the DAO’s full launch to unveil “the full scope and opportunities of the DAO.”
The Sandbox Partners with The Voice
Apart from ordinary SAND and LAND owners, the governing body will also have a council and advisors. The council will focus on improvement proposals while the advisors will be “cultural ambassadors.”
The metaverse game’s move comes two weeks after it partnered with the creator of The Voice to power a virtual global singing competition.
With The Sandbox unveiling a DAO, it’s to be seen whether similar projects like Roblox will follow.
