World of Women Teams Up With The Sandbox for $25M Inclusivity Push

The new WoW Foundation will use the funding to invest in education and mentorship to increase female participation in Web 3 and the metaverse.

AccessTimeIconMar 8, 2022 at 12:00 p.m. UTC
Updated Mar 8, 2022 at 8:34 p.m. UTC

Tanzeel Akhtar is a reporter based in London,UK.

The World of Women NFT project has teamed up with startup The Sandbox to launch a way to promote female inclusivity and representation in Web 3 and the metaverse. Dubbed the “WoW Foundation,” the initiative will receive $25 million in funding over five years, with the money going towards education and mentorship.

Digital illustrator and non-fungible token (NFT) artist Yam Karkai launched the World of Women network with her partner Raphael Malavieille in July, dropping a collection of 10,000 diverse female NFT avatars. According to the group, research published in November shows female artists accounted for 5% of all NFT art sales in the prior 21 months.

World of Women has seen a dramatic rise to the top of the NFT charts since its launch in November, touting a 7.1 ETH (roughly $17,500) floor price on secondary marketplace OpenSea. The project has benefited heavily from promotion by actress Reese Witherspoon, whose media company Hello Sunshine partnered with the project in February.

The WoW Foundation will use the funding to launch a virtual academy for artists and invest in diverse and inclusive spaces for women in Web 3 within the metaverse. The group said it aims to encourage more female participation by acting as an incubator and providing advice, funding, mentoring and access to The Sandbox network. The Sandbox is a subsidiary of blockchain gaming giant Animoca Brands.

Free online lessons on Web 3 will also be given through an immersive experience in The Sandbox, and once students have completed the course they will be certified and receive an “NFT diploma.”

“Through facilitating the education and funding of women’s projects we hope these programs help establish a generation of influential women builders in the space,” said Sebastien Borget, co-founder and chief operating officer of The Sandbox, in a press release.

As well as a virtual academy, there will be a WoW Museum in The Sandbox that will be a showcase for the WoW Foundation.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Tanzeel Akhtar is a reporter based in London,UK.

CoinDesk - Unknown

Tanzeel Akhtar is a reporter based in London,UK.

Trending

1
CoinDesk - Unknown
July Was Bitcoin’s Worst Month Ever

Plus, European crypto regulation comes into view.

CoinDesk - Unknown
2
CoinDesk - Unknown
What Traders Are Saying About Bitcoin's Biggest Monthly Loss in 11 Years

Poor macroeconomic sentiment, fears of inflation and systemic risks from the crypto market pushed the cryptocurrency below 2017’s highs.

CoinDesk - Unknown
3
CoinDesk - Unknown
Three Arrows Capital Files for Bankruptcy in New York Tied to British Virgin Islands Proceeding

A British Virgin Islands court ordered Three Arrows' BVI branch into liquidation earlier this week.

CoinDesk - Unknown
4
CoinDesk - Unknown
Cosmos-Builder Ignite Cuts Headcount by More Than 50%, Ex-Employees Say

The reductions come amid a crypto market crash, and after the return of Ignite’s controversial ex-CEO.

CoinDesk - Unknown