We have recently seen the powerful effect of using cryptocurrency for fund-raising. Pussy Riot's Nadya Tolokonnikova raised more than $7 million in under a week by selling an NFT of the Ukrainian flag through UkraineDAO. Since then, almost $100 million has been given to Ukraine in crypto donations, especially since President Volodymyr Zelensky signed a bill to legalise cryptocurrency exchanges.
Pro-abortion activists have since questioned how they can harness this success and raise quick funds for women in America who might face a ban on abortion access. There could soon be legal consequences for both the people paying for abortions and the women seeking them. Potentially in the future, cryptocurrency will provide anonymous payments which would be invaluable for people seeking abortions.
The NFT industry only accounts for 5-15% of female-identifying artists' work and as around $41 billion was associated with NFT sales in 2021, these artists are missing out on a huge pool of wealth. Wanting to rewrite the narrative of cryptocurrency making rich men richer, Tolokonnikova created UnicornDAO with the aim of redistributing this wealth, investing in female, non-binary, and LGBTQIA+ artists.
Launching into the 'Pussyverse' built-in Web3, Tolokonnikova's project hopes to promote equality, justice, and joy for underrepresented communities through cryptocurrency. She believes that crypto can be used as a tool to fight social justice causes.
Sites like SimpleDefi.Club is actively creating an online space with the intention of encouraging women into the finance industry. Therefore, by harnessing crypto's inherently rebellious nature, projects like these are hoping to narrow the gender gap in the finance sector.
The community focus of DAOs makes them ideal for building fund-raising groups in support of a common cause. Therefore, pro-abortion activists can band together and create a platform to support American women who might lose their right to abortions. DAOs are collectively owned and managed by their members, making them a perfect platform for this type of collective movement and change, several pro-abortion groups are already accepting cryptocurrency donations.
Furthermore, if crypto develops the technology to authorise anonymous donations, women could safely receive this payment without facing prosecution. However, here it is important to note that the opposite could happen, especially before the technology has been finalised.
Crypto still has a little way to go before its stable enough to be relied on by pro-abortion communities, it's very volatile and has only recently undergone a major dip in the market. However, its quick fund-raising capacity definitely makes it a helpful current option for raising extra funds.
Following the success of auctioning the Ukrainian flag NFT, currently, this type of fund-raising seems to be the most lucrative way of raising money. Quitriam Finance (QTM) is a presale coin that allows its users to 'forge' and 'mine' NFTs, making them ideal for anyone aiming to utilise this technology for a fund-raising goal. The fact that Quitriam Finance (QTM) is in its presale is also an advantage because it's more accessible for investors to join at an early stage as post-launch it might have increased in value.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.