đŸ“ąđŸ’„đŸ’„Ethereum Game 'The Sandbox' Launches DAO to Let Players Shape Its Future. đŸ”„đŸ”„

The Sandbox,an Ethereum-based metaverse game platform, announced Tuesday that it has launched a DAO—or decentralized autonomous organization—to let token holders help shape the future of the game and its economy.

Users who own NFT-based LAND plots or hold 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 “player status” will be determined based on asset ownership, and other potential aspects of The Sandbox universe.

"We believe a gaming open metaverse must be governed by all users: creators, players, and LAND owners, to make it timeless and push the boundaries of our community,” said The Sandbox co-founder and CEO Arthur Madrid, in a blog post. “Blockchain technology enables a full decentralized system of decisions and power to people.”

A DAO is a decentralized community of people with aligned interests or goals, and membership is typically represented by asset ownership—whether it’s a fungible token or an NFT.

The rollout is happening in three phases, with the debut phase beginning 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 council composed of Sandbox leadership and partners from firms like Animoca Brands will review and guide proposals.

We want to ensure a thoughtful and well-executed launch,” reads a blog post about the DAO. “This allows us to test and iterate on the DAO’s functionality as we progress, enabling us to learn from any challenges that arise and make necessary adjustments along the way, ultimately leading to a more robust and effective system.”

$ETH $BTC

#MtGox #FIT21 #EarnFreeCrypto2024 #ETFvsBTC #altcoins