Web3 is not necessarily known for its inclusiveness or its diversity. And while the NFT space needs to make sure it’s doing everything it can to not pigeonhole itself into a one-dimensional club for the financial and social elite, the perception that it’s dominated by white men is increasingly becoming a stereotype.
According research by charles schwab, a higher percentage of black Americans own crypto than white Americans. Twenty-five percent own some form of crypto compared to just 15 percent of white Americans. That statistical split jumps to 38 and 29 percent, respectively, when looking at investors under the age of 40.
Beyond the crypto property, however, lies a vast geography of often-overlooked Web3 projects working explicitly toward racial justice, equality, and inclusivity. Here, we’ve highlighted five collectives and organizations that provide educational support, financial opportunities, and artistic collaborations to underserved communities, so they don’t miss out on the economic and social empowerment that Web3 offers.
50 mm collective
Founded by Raven Trammell and Chelsea Quintela, 50 mm collective is a digital art cohort that provides opportunities and resources to underrepresented communities and artists. The collective is primarily focused on supporting BIPOC queer and trans artists by online gallery curationproviding frequent educational workshops, and connecting them with collectors in space. The group also runs an online store where visitors can shop for clothing and accessories, with 100 percent of the proceeds going to fund the artists in the 50mm Collective.
Launched in February 2022 by Harold Hughes, Shondra Washington, and Audrey Taylor-Akwenye, [email protected] is a community of African-American investors, entrepreneurs, and creatives with token access. The group’s mission is to create a space (both online and in real life) where founders and creators can be authentically themselves while sharing knowledge to create better and add value to each other’s work through the lens of Web3.
When buying a [email protected] NFT membership, holders gain access to the group’s private chat and subgroups, as well as discounted services and free access to online events and IRL experiences like community-led workshops, happy hours, AMAs, and more.
HumanDAO
HumanDAO is a socially conscious Web3 project that uses blockchain technology to offer marginalized communities new ways to create value through play-to-win (P2E) and learn-to-win (L2E) opportunities. For P2E, the DAO loans game assets to members in a scholarship program, allowing them to play games like Axie Infinity. Members earn tokens in the game, a portion of which is returned to the DAO.
With a particular focus on developing nations, HumanDAO offers its scholars L2E opportunities (through HumanDAO Academy), as well as cryptographic identities through which they can build their Web3 resume. The DAO also has a unique offering on its Pocket Assistant NFT program. Pocket Assistant NFT holders gain access to a pool of assistants who complete simple tasks, allowing members of underserved communities a way to earn income. Tasks range from personal (such as researching flights) to administrative and Web3 related.
HumanDAO also received 50 Moonbirds Oddities from the Proof Collective last year as part of that organization’s efforts to ensure it provides Web3 opportunities to underserved communities.
The Black Arts Project
A curated NFT initiative, The Black Arts Project partners with established and emerging black artists to create exclusive NFT collections with proceeds going to support artists in underserved communities.
The group’s first project is a collection of 10,000 generative NFTs by artist Aurélia Durand that offers a contemporary interpretation of traditional African art combined with inspiration from ’80s hip-hop culture and Henri Matisse.
green code
The green code is a web3 platform whose objective is to incorporate marginalized groups that are often excluded from the economic empowerment that Web3 offers. With a focus on social and climate justice, as well as gender equality and humanitarian aid, the organization launches collections of NFTs, metaverse games, and other technological tools that work to advance the UN Sustainable Development Goals.
Standing at the crossroads of social and environmental justice and the world of Web3, Code Green was nominated for Best Metaverse Project during the December 2022 issue. the crypts Award ceremony. The organization is headed by Inna Modja, who also serves as World of Women’s director of philanthropy.
