Saturday, September 23, 2023

UnicornDAO Secures $4.5M in Funding


UnicornDAO has secured $4.5 million in a round led by ConsenSys Mesh, Yuga Labs, and others, according to the company. The money will use to help artists that identify as female or LGBTQ+.

The DAO’s stated aim is to help underrepresented artists and groups in Web3.

A Feminist Movement

UnicornDAO, a feminist movement founded in March 2022 by Pussy Riot’s Nadya Tolokonnikova, John Caldwell, and Rebecca Lamis. It makes up of Web3 natives who are leveraging Web3-based tools to achieve much-needed Web3 equality.

Moreover, Yuga Labs CEO Nicole Muniz issued a statement. They feel delighted to contribute to UnicornDAO’s aim of funding and purchasing NFTs made by women and LGBTQ+ persons. This will aid in the onboarding of new Web3 creators.

Yuga Labs will also provide a seat in the UnicornDAO to a woman or LGBTQ+ leader in the space who might not otherwise be able to attend.

MoonPay, World of Women, Tribute Labs, Quantum, Flamingo DAO, The LAO, Wave Financial, and Collab Currency are among the companies that have contributed to the funding round. Polygon and Big Sky Partners are among the participants, as are digital artist Mike Winkelmann (also known as Beeple) and recording artist Sia.

So far, UnicornDAO has invested $1.4 million on Web3 works by under-represented groups.

Redistributing Wealth

The art investment fund, according to UnicornDAO, redistributes wealth and visibility. This makes the globe and the digital creative environment more equal for women and LGBTQ+ persons.

UnicornDAO, according to Tolokonnikova, shares the same mentality as Pussy Riot. They want to provide equality, fairness, and joy to previously underrepresented communities.

Additionally, the video for Grimes’ song “New Gods” donated to the DAO on Sunday. It came with the news that she had joined the UnicornDAO board of directors.

Furthermore, decentralized autonomous organization abbreviated as DAO. It’s an online community that employs a shared treasury and smart contracts to achieve a common purpose. These programs run when certain conditions are satisfied. It introduces tokens for proposal voting.

Open to the Public

This week, UnicornDAO welcomed new members. A live launch event will hold at NFT NYC in New York on June 21.

UnicornDAO also announced the establishment of UnicornRiot, in keeping with Tolokonnikova’s activism. It is a political organizing and fundraising group for activist causes. Furthermore, it is mostly concerned with reproductive rights in the United States.

Ivan Cruz
Ivan Cruz
Ivan Cruz is a writer for Cryptoconstellation. He has his Masters in Applied Research in Economics & Business. Ivan has been trading crypto for the past 7 years himself and feels it is his duty to bring you all the latest news.

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