The Sandbox launches DAO, voting governance requires holding virtual land and SAND tokens.

The Sandbox game officially launches its DAO, with a treasury holding $25 million worth of SAND tokens.

The Sandbox's parent company, Animoca Brands, receives a $50 million investment from an Arabian fund.

The Sandbox DAO

The Sandbox recently announced the establishment of a DAO, which will be launched in stages to gradually integrate community feedback and achieve decentralized governance.

Co-founder and CEO Arthur Madrid stated:

The Sandbox DAO invites all global SAND and virtual land holders to participate in governance decisions to ensure inclusivity and transparency. The Sandbox aims to democratize the metaverse, allowing everyone to voice their opinions and shape the development of the metaverse. We believe that it should be collectively managed by all users - creators, players, and LAND owners - to perpetually drive community growth, with the expectation that games like "Fortnite" or "Roblox" will eventually adopt blockchain technology.

SAND and LAND Holders Participate in Governance

The Sandbox DAO will be divided into three stages, as follows:

• In the first stage, the DAO's initial phase allows SAND and LAND holders to vote on The Sandbox Improvement Proposal SIP, with some operations still managed by The Sandbox employees.

• In the second stage, exploration: the DAO will have greater autonomy and will no longer rely on The Sandbox employees.

• In the third stage, full activation: SIPs proposed by community members will be subject to community voting without any managerial intervention.

The Council will be able to choose the initial SIP proposals, while The Sandbox DAO Foundation will oversee the operation of the DAO, including fund management and team hiring.

The official timeline for each stage has not been specified yet. As of now, the first batch of proposals has been launched, and only users holding land and 5 SAND tokens can participate in the voting.