Moscow-based feminist art group Pussy Riot revealed a partnership with popular names from the Web3 and NFT space to launch UnicornDAO, which is the investment fund dedicated for Women, non-binary, and LGBTQ+ artists in Web 3.
As per UnicornDAO, the protest performance art group Pussy Riot’s purpose to launch DAO is to “to tackle patriarchy in Web3”.
UnicornDAO will be a community-led organization which will act as an investment fund and intensively invest in NFT-oriented projects from women-identifying, non-binary, and LGBTQ+ artists in Web3.
Unlike conventional DAOs, UnicornDAO will not have a governance token-based voting system to make decisions, rather it will give an equal opportunity to every member to give their one-worthy vote and decisions will be taken by majority.
The goal of UnicornDAO will be to provide financial support, education, and resources to underdog artists and groups in cryptocurrency and Web 3 to give exposure to the unnoticed thoughts.
To grow DAO’s ecosystem, UnicornDAO will also hold a series of fundraising rounds. The DAO expects to raise $5 to $10 million in the first fundraising round to meet adequate requirements for creators.
The DAO stated that the contribution of Women and LGBTQ is still at 5%, which is minimum and the fund wants to change the movement.
UnicornDAO’s launch also garnered support from popular digital artists and creators including Beeple, Guy Oseary, Yuga Labs, Trippy, Pplpleasr, and World of Women.
UnicornDAO and Pussy Riot co-founder Nadya Tolokonnikova said: “Art made by women sells for 50% less than works by men. UnicornDAO is here to redistribute wealth and allow women and LGBTQ+ people to empower themselves.”
Nadya Tolokonnikova is also one of the founding members of UkraineDAO, which has raised over $6 million after selling 1/1 Ukraine Flag NFT to donate to Ukraine in the ongoing war with Russia.
