Pussy Riot Launches Special DAO To Reduce Gender Inequality In The NFT Industry

Pussy Riot, plans to launch a DAO for LBTQ+ and female artists. (photo: instagram)

JAKARTA – The Russian punk rock group, Pussy Riot, plans to launch a DAO for LBTQ+ and female artists. Decentralized Autonomous Organization (DAO), is an entity without a central leadership. Decisions are made from the ground up, and are governed by a community organized around a specific set of rules enforced on the blockchain.

As co-founder of the group, Nadya Tolokonnikova, told Cointelegraph, that the DAO will work to reduce gender inequalities that still flag in the nonfungible token (NFT) space and, more broadly in the crypto industry.

Despite the large gender gap in crypto, according to a survey from August 2021 about 60% of US crypto investors are white men, so Nadya believes that it is still early enough for Pussy Riot to make an impact.

"The NFT space is still very small, I feel that with a good enough effort you can really change that," she said.

Nadya already uses her following base to promote the work of LGBTQ+ women and artists and connect them with potential collectors. DAO will continue to do so but on a larger scale.

"We will recruit a whole team who will make educational materials for girls who want to enter the space," said Nadya.

The punk rock group, Pussy Riot, has gained worldwide popularity for its provocative performances and criticism of the Russian government.

Last year, Pussy Riot started using NFT to raise money for social causes. In March 2021, the video for their music single “Panic Attack” sold for a total of 178 ETH as an NFT series. Most of the money was then donated to victims of domestic violence.

"I want to bring a large component of human rights and charity to the NFT," Nadya said in an interview broadcast via Youtube.