UnicornDAO Raised $4.5 Million For LGBTQ Community Support

Time Stamp: May 20, 2022 9:51 AM
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UnicornDAO raised $4.5 million for LGBTQ community support but will also support marginalized artists so let’s read more today in our latest Cryptocurrency news.

The UnicornDAO says its mission is to support the marginalized artists and groups in Web3. The platform announced the raise of $4.5 million led by Consensys Mesh, BAYC Creators Yuga labs, and others with the funds supporting artists that identify as LGBTQ+. Launched in March 2022 by Pussy Riot’s founder Nadya Tolokonnikova and John Caldwell, UnicornDAO called itself a feminist movement that consists of web3 native people that are using web3-based tools to create the equality in the Web3 space.  Nicole Muniz the CEO of Yuga Labs said:

“We are happy to support UnicornDAO’s mission to fund businesses and purchase NFTs created by women and LGBTQ+ people to help onboard new creators to Web3.”

Muniz added that Yuga Labs will be donating the seat in Unicorn DAO to women or an LGBTQ leader in the space that can’t afford the cost. Joining the raise are World of Women, MoonPay, Quantum, FlamingoDAO, The LAo, Collab Currnecy, Polygon, Big Sky Partners but also artists like Beeple and Sia. So far, UnicornDAO purchased $1.4 million in works from other groups in web3. UnicornDAO said the art investment fund redistributed wealth and visibility to create more equality for the LGBTQ people. Tolokonnikova said UnicornDAO was the goal to bring equality, justice, and joy to the communities.

The DAO or short for decentralzied autonomous organization is an online community focused on the common goal which uses a shared treasury, smart contracts, and tokens for voting on the proposals. UnicornDAO opened up its membership to the general public and will hold an in-person launch event in June. UnicornDAO also announced the launch of UnicornRiot which is a group dedicated to political organizing and fundraising for activist causes.

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As earlier reported, The Sandbox partnered with the NFT community World of Women to launch the WoW foundation, and the $25 million grant will help find the foundation in the next few years. The mission of the WoW foundation is to enhance female representation in the metaverse and NFT space. As a collection of diverse and powerful women sold on the Ethereum blockchain, the world of Women said they aim to lower the barrier to entry for women in Web3.

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