Women have been underrepresented within Web 3.0 and the metaverse with NFT sales largely dominated by men. But times are changing with the help of initiatives focused on bridging the gap and including more women within Web 3.0.
In July 2021, the World of Women (WOW) Foundation, through its NFT collection, set out to increase the participation of female artists in NFT art. The WOW Foundation rose to popularity due to support from popular female celebrities such as Eva Longoria, Reese Witherspoon and Shonda Rhimes.
Since then, the World of Women (WOW) NFT project and the crypto metaverse game, The Sandbox, have formed a collaboration to promote female inclusivity in the NFT industry. The Sandbox will provide grant funds worth $25 million toward education and mentorship to encourage women to embrace the metaverse and NFTs.
The funding will be used over five years for several WOW Foundation initiatives. The four main initiatives include creating 3D avatars of 10,000 WOW profile pictures. More so, the funds will be used to create a WOW Museum, WOW University and WOW Academy.
Within The Sandbox, the WOW foundation will create the WOW Museum and University. The museum is the platform to showcase the foundation and student journey and achievements. The University will provide free immersive online Web 3.0 lessons for women and an NFT diploma upon completion of the course.
The WOW Academy will be an incubator for artists and projects. It will offer support by providing select students with funding, networking and mentorship opportunities.
The WOW Foundation plans on using the grant funds within different sub-sectors in the blockchain. The resources will be geared toward other initiatives that are investing in women for long-term and equitable growth and opportunities within the blockchain industry.
The WOW Foundation and The Sandbox collaboration is a welcome and amazing step toward creating inclusivity for women within Web 3.0.