The World of Women NFT has teamed up to start-up The Sandbox in order to create a platform to encourage female inclusion 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.
Artist digital illustrator and artist non-fungible token (NFT). 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, November showed that 5% of all NFT art sales was made by female artists.
World of Women has seen an impressive rise to the top of NFT charts since November’s launch. It boasts a 7.1ETH (roughly $175,000) floor price on secondary market OpenSea and a 7.1ETH (roughly $175,000) floor price. Reese Witherspoon’s partnership with Hello Sunshine Media in February has helped to promote the project.
The funding will be used by the WoW Foundation to create a virtual academy of artists and invest in diverse spaces for women in Web 3 within its metaverse. The group claimed it is a support group for women and acts as an incubator. It also provides advice, mentoring, and access to The Sandbox Network. The Sandbox is a subsidiary to Animoca Brands, a blockchain gaming giant.
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.
A virtual academy will also be available. The WoW Museum in The Sandbox will serve as a showcase for The WoW Foundation.