Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
Roe Vs Wade Activism Enters the Web3 Space
Following the supreme court’s decision to overturn Roe v. Wade, some activists are turning to Web3 to rally support for women’s reproductive rights. Of late, several community members have joined the fight by campaigning to generate funds and draw attention to the cause.
Web3 Offerings Find a Place in Women’s Rights
On June 24, the US Supreme Court overturned the critical case that previously protected women’s rights to have an abortion. Since the historical ruling two weeks ago, flurries of protest campaigns have broken out both offline and online. Even more notably, members of the Web3 community are also joining the fight.
The activists in question are leveraging a range of Web3 solutions, including Decentralized Autonomous Organizations (DAOs) and non-fungible tokens. Russian musician and political activist Nadya Tolokonnikova was also an early participant in the movement.
Tolokonnikova’s contributions are tied to her place in feminist protest and performative art group, Pussy Riot. According to Tolokonnikova, roughly 3 weeks ago Pussy Riot collaborated with UnicornDAO to organize a demonstration before the Texas state capitol. UnicornDAO is a collective promoting equality for women-identifying persons and members of the lgbtq+ community.
The group aims to achieve this by routing wealth towards the affected demographic and providing visibility. Notably, Tolokonnikova helped found the organization, and while their efforts extend beyond the Web3 sphere, it is their primary focus.
Protests Against New Ruling
Recently, Pussy Riot and the UnicornDAO gathered at the Capitol for a protest tagged Matriarchy Now. This came in response to an expose on the Supreme Court’s final decision to overturn Roe v. Wade. Nadya described the event saying the protestors displayed a 45-foot banner from the third floor of the Texas Capitol building.
The sign displayed the words “Matriarchy Now,” and the collective later made this into a non-fungible token. Tolokonnikova revealed that this was the first piece of political performance art they had used to generate cash for the reproductive rights movement.
Likewise, just a day ago, another digital collectible collection went live pushing for bodily autonomy and the restoration of reproductive rights. According its creators, potential buyers are in a way acquiring feminism and showcasing their “proof of protest.”
Various Groups Take Part
Working with charity foundation Endaoment, UnicornDAO set up LegalAbortion.eth, an Ethereum wallet set to hold the funds Proof of Protest generates. Like many political DAOs which are springing up, such as Choice DAOs, UnicornDAO plans to donate all its proceeds to American institutions supporting reproductive rights.
In a similar fashion, new entrant Choice DAOs plans to generate over a million dollars in 26 days to support grassroots movements. Yet another major player is media group Hauss, founder Adriana Arce shared plans for an NFT collection. “Nice F*cking Titties” aka “NFT” will help generate finances for women artists and the National Network of Abortion Funds organization.
Arce claims it gives women a space to display their breasts or total nudity as proof of bodily autonomy. The National Network of Abortion Funds will receive 5% of the profits whereas the women participants will get 20%.
Possible Challenges
Despite the committed nature of these movements, there are also possible snags up ahead. These include the male-dominated crypto market and its current bearish inclinations. NFT sales have slowed down within the past few months, and it is not clear how these releases will be received.
Regardless, Tolokonnikova believes integrating women’s rights with Web3 is an important step to take. She also commented that donations have remained steady despite the waning market.
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