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Sandbox launches Sandbox DAO with 25M Sand Treasury
The Sandbox, a decentralized gaming platform, announced the launch of its decentralized autonomous organization (DAO), The Sandbox DAO.
The DAO initiative will be implemented in three phases, allowing The Sandbox
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holders and virtual LAND — nonfungible tokens (NFTs) representing in-game plots. Holders and NFT owners can vote on projects and propose improvements through Sandbox Improvement Proposals (SIPs).
Phase one begins May 28 and will enable the community to vote on SIPs; however, The Sandbox staff will still manage some operations.
The Sandbox team said:
“The Sandbox DAO enables the community to help shape and drive the platform's growth and ecosystem. From determining how we allocate critical funds to the next Game Jam theme, community members will have a say in how this platform evolves and where the business focuses its time."