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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.
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.
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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.
Read more: Web 3 and the Metaverse Are Not the Same
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.
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
