The World of Women NFT project has partnered with The Sandbox to establish a platform that promotes female inclusion and representation in Web 3 and the metaverse. The program, dubbed the “WoW Foundation,” will get $25 million over five years, with the funds going toward education and mentorship.
Yam Karkai, a digital illustrator and non-fungible token (NFT) artist, and her boyfriend Raphael Malavieille established the World of Women network in July, releasing a collection of 10,000 unique 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.
Since its inception in November, World of Women has risen to the top of the NFT charts, with a floor price of 7.1 ETH (approximately $17,500) on secondary marketplace OpenSea. Reese Witherspoon’s media firm, Hello Sunshine, joined with the project in February, and the project has profited greatly from her marketing.
The WoW Foundation will use the money to start a virtual academy for artists and invest in diverse and inclusive spaces for women in the metaverse’s Web 3 layer. The organisation claims that through acting as an incubator and giving guidance, money, mentoring, and access to The Sandbox network, it hopes to inspire more female participation.
The Sandbox is a division of Animoca Brands, a blockchain gaming powerhouse.
Students will be certified and obtain a “NFT diploma” after completing the course and receiving free online courses on Web3 through an immersive experience in The Sandbox.
In a press release, Sebastien Borget, co-founder and chief operating officer of The Sandbox, said, “By supporting the education and funding of women’s projects, we hope these programs will help generate a generation of powerful women builders in the sector.”
In addition to a virtual academy, The Sandbox will house a WoW Museum that will serve as a showcase for the WoW Foundation.
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