Nadya Tolokonnikova, a co-founder of Pussy Riot, has announced the creation of UnicornDAO.
It’s a decentralized autonomous group that considers itself a feminist movement, with the goal of combating patriarchy on the Web3. In Web3, it intends to invest only in female, non-binary, and LGBTQ+ artists.
Tolokonnikova is most recognized for her work with Pussy Riot, a conceptual protest art collective. Lately, she became more active in the DAO space.
A DAO is a decentralized autonomous organization (DAO) that uses cryptocurrencies to organize, incentivise, and control group decision-making.
With the sale of an NFT, UkraineDAO raised $6.75 million in Ethereum in just five days. A form of token used to prove ownership of a digital item with a picture of the Ukrainian flag on it.
UnicornDAO’s Purpose
UnicornDAO differs from UkraineDAO- created to aid Ukraine in its war against Russia.
The DAO, according to co-founder Rebecca Lamis, wants to bring financial tools and resources to groups that are underrepresented in the crypto world. They’d rather do it in a decentralized, community-run manner.
Lamis expressed her admiration for the DAO model. She adores how it establishes a new, collaborative, scalable Web3 approach.
UnicornDAO members wanted to launch $1 million to invest in artists when it originally formed, according to Lamis. However, due to higher-than-expected interest, the group now intends to raise more funds.
It already has a long number of early supporters, including Hollywood agent Gary Oseary. It also includes entrepreneurs Gary Vaynerchuk and Trippy, Pplpleasr, and Beeple, as well as digital artists Trippy, Pplpleasr, and Beeple.
UnicornDAO is hoping to raise $5 to $10 million in its initial round of funding, according to Lamis. It intends to offer “seats” to its supporters rather than selling tokens or NFTs, as many DAOs do.
Voting and Governance
Lamis claims that the UnicornDAO DAO will not have weighted votes based on governance tokens when it comes to voting and governance. It states that each member must have one vote.
Essentially, when someone buys a seat, they receive their equity in the form of rainbow tokens, depending on how much they give to the DAO.
Most of the first backers, according to UnicornDAO co-founder Jenni Thompson, have already committed to purchasing tickets. This is in addition to MoonPay, a cryptocurrency payments firm, sponsoring public seats and artists donating NFTs.
DAO as an Organized Group
A DAO, according to Thompson, is a superb example of how a well-organized society with a common goal may transfer power and capital. The developing NFT market provides a chance for artists to compensate their work. The credit they deserve, especially for women and LGBTQ+ individuals, who have been historically underrepresented.
Lamis estimated that there were roughly 20 female, non-binary creators in her group. UnicornDAO, she said, wants the art on display at the DAO to reflect the worldwide majority, not just a select few. While the DAO has long-term aims, Lamis says that its members currently focuses on assisting digital artists. They are also looking for Web3 organizations to invest in.
They’re build a platform that will include a collection of female, non-binary LGBTQ+ work, as well as folks from the greater ecosystem who they believe need to be highlighted.
