World of Women, the NFT-centered community, has teamed up with the Sandbox, the famous gaming platform, for a strategic partnership.
World of Women is an NFT community created to remove structural barriers that prevent women from engaging in the crypto world. On their site, WoW claim that just 5% of all NFT art sales can be attributed to female artists.
“Together, we can create opportunities for anyone around the world to be owners, creators, and contributors in this new era of the web.” Wow, states on their website.
The central part of the partnership involves a $25 million grant to educate women on the opportunities crypto offers and increase their participation in the world of crypto, NFTs, and the metaverse.
The grant will finance initiatives such as the Wow Academy and the WoW University, which will have multiple educational courses on female empowerment and essential entrepreneurial qualities and opportunities that people can use to improve their lives.
How WoW Started
The World of Women project started like any other art collection in the NFT world. They specialized in targetting women and ensuring they received the needed information, encouragement, and resources to create their collections and express themselves.
Yam Karkai, the digital illustrator who launched the project with 10 000 non-fungible tokens in the summer of 2021, has carried it into mainstream success. Currently, WoW is one of the main NFT projects led by females who have received mainstream support like Lima Payne, Logan Paul, Reese Witherspoon, and Eva Longoria.
At the center of WoW’s message is the undeniable and worrying statistics provided by ArtTactic, that only 5% of NFT sales come from females, and the platform has only 16%, female artists.
Тhe reality is that many women face structural problems that prevent them from succeeding in NFT marketplaces. Many harmful stereotypes and beliefs continue to exist to this very day which claims that women are not fit to get involved with cryptocurrencies, NFTs, and anything related to web3 as the world of finance should be ruled by men.
Many NFT communities are male-dominated, which means that even if discrimination is not directly present, women still feel as though they don’t have a voice or can discuss their unique experiences. Furthermore, women often feel an imposter syndrome when they are in the minority within a community, which makes them feel inadequate and can hinder their work quality.
The longer this issue persists, the harder it becomes for the demographics of crypto and NFT communities to change. This is why organizations like WoW are doing a fantastic job by financing NFT projects led by female artists and funding charities to empower women by providing them the necessary education from an early age and for the removal of harmful practices such as child marriage аcross the developing world.
The Sandbox
The events will be hosted in The Sandbox, a virtual world based on blockchain technology. The platform dates its existence back to 2011 and has been mastering the technology to offer players an immersive experience for years.
In The Sandbox, players can have their non-fungible tokens displayed on the land they exclusively own. The Sandbox is meant to be social and interactive by allowing people to visit the lands of others, communicate with friends, and engage with other institutions and brands that have landed in the Sandbox.
The rise of NFTs and Web3 services has been accompanied by a massive increase in popularity for The Sandbox, which currently has more than half a million monthly users.
The recent rise of popularity that The Sandbox has experienced also has to do with the investment of many mainstream companies and crypto platforms into the company. For example, Gucci bought land last month and has launched a campaign where they advertised the exciting ways they wish to interact with people and promote their brand on The Sandbox.
The Purpose Of The Partnership
The announcement of the partnership between The Sandbox and Wow comes with four main promises, which involve strengthening the metaverse ecosystem by giving support and incentives for artists to express themselves and fund projects, educating people on how the Web3 world works, giving exposure to the unique struggles of women in the digital world and giving funds to charities that help people on the ground.
According to Mathieu Nazareth, board member in The Sandbox, “We know it takes time for people to get into web3, so we want to onboard as many people as possible. We also want to have time to experiment with this new university format and refine and improve it over time.”
“The point of doing it inside the Sandbox is we want it to be different. We will be working toward coming up with different narratives different experiences for learning. That will make it a bit more fun.” continues Nazareth.
The partnership will first provide business opportunities for NFT creators by giving them potential financing and resources to launch projects related to non-fungible tokens and the metaverse.
The Sandbox will also be the host of the Wow University, Academy, and Museum, where people can receive lectures on entrepreneurship, how the web3 world works, meet with other creators, discuss business strategies, and share their experiences in the digital world.
We want to lead and support more women in the metaverse than in the NFT space. But the focus here is that we want to expand this to developers,” claims Yennefer, who’s the community head at WoW.
