UnicornDAO Raises $4.5 Million to Assist LGBTQ+ Artists and Women

UnicornDAO said today that it has raised $4.5 million in a round headed by ConsenSys Mesh, Yuga Labs, and others. The funding will be used to help artists who identify as women and/or LGBTQ+.

UnicornDAO describes itself as “a feminist movement that consists of Web3 native people who are using Web3-based tools to establish much-needed equality in the Web3 domain,” and was founded in March 2022 by Pussy Riot’s Nadya Tolokonnikova, John Caldwell, and Rebecca Lamis.

Nicole Muniz, CEO at Yuga Labs said in a statement:

“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,”

She added that Yuga Labs will be donating its seat in the UnicornDAO to a woman or LGBTQ+ leader in the space who may not be able to afford the cost.

MoonPay, World of Women, Tribute Labs, Quantum, Flamingo DAO, The LAO, Wave Financial, Collab Currency, Polygon, and Big Sky Partners, as well as digital artist Mike Winkelmann (better known as Beeple) and recording artist Sia, are among those who have contributed to the fund. UnicornDAO has spent $1.4 million on works by under-represented groups in Web3 so far.

According to the organization, the art investment fund redistributes income and visibility in the world and the digital art sector to foster equality for women and LGBTQ+ individuals.

UnicornDAO, according to Tolokonnikova, shares the same spirit as Pussy Riot: “to bring equality, justice, and joy to historically underrepresented communities.”

On Sunday, Grimes announced that she had joined the UnicornDAO board and contributed the video for “New Gods” to the DAO.

A DAO, or decentralized autonomous organization, is an online community that combines a shared treasury, smart contracts (programs that run whenever criteria are satisfied), and tokens to vote on proposals to achieve a common purpose.

UnicornDAO opened its membership to the general public this week. On June 21, it will have an in-person launch event at NFT NYC in New York.

The organization also announced the formation of UnicornRiot, an organization dedicated to political organizing and funding for activist causes, with a concentration on reproductive rights in the United States, in line with Tolokonnikova’s advocacy.

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