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Unstoppable Domains, as part of a continued effort to support women in the crypto and NFT spaces, is setting aside $10 million in Web3 domain names for its “Unstoppable Women of Web3” initiative.
More than 60 prominent Web2 and Web3 companies have signed a pledge to “feature work created by historically marginalized groups in at least half of all materials for Web3 education,” according to a statement from Unstoppable Domains.
Sandy Carter, senior vice president of Unstoppable Domains and founder of the Women in Web3 initiative, clarified in an email to Decrypt that “marginalized groups” was referring not just to women but also racial and ethnic minorities, the LGBTQ+ community, and the economically disadvantaged.
Among the brands signing the pledge are: Google Cloud, OpenSea, Gemini, Binance U.S., Consensys, Polygon, BlockFi, Decentraland, Blockchain.com, Bitstamp, Ripple, and The Sandbox.
Sebastian Borget, COO and co-founder of The Sandbox, said in a statement that his blockchain-based metaverse company joined the initiative because it’s “a foundational part of The Sandbox core values to support and empower women.”
A number of NFT projects also have joined the initiative, including Lazy Lions, Crypto Chicks, and Fame Ladies Squad.
NFTs are unique tokens that exist on a blockchain like Ethereum and signify one’s ownership over an asset. NFTs can refer to images, but they can also signify ownership over Web3 domain names like those developed by Unstoppable Domains or the Ethereum Name Service (ENS).
Carter told Decrypt that each company and brand participating in the initiative will receive a free domain name as a part of the $10 million giveaway. Anyone who joins the Women of Web3’s YouTube live event or Twitter Spaces event also will get an Unstoppable domain name, Carter said. Unstoppable Domain names can vary wildly in price, anywhere from $20 to $10,000 each.
Unstoppable also plans to create a quarterly list of 100 of the top women in Web3, and it’s developing a mentorship program with the nonprofit Girls in Tech.
In the metaverse, Decentraland, a competitor of The Sandbox, has committed to build virtual headquarters for the Unstoppable Women of Web3.
Marketing Director Marja Konttinen said in a statement that Decentraland wants to help “actively create a more equal world in the virtual setting.”
Unstoppable Domains’ commitment to inclusion comes after the ENS—its main competitor—came under fire after old tweets surfaced from Brantly Millegan, director of operations. Millegan’s tweets were decidedly not inclusive toward women, minorities, or the LGBTQ community, causing some to distance themselves from the ENS.
Carter told Decrypt that Millegan’s tweets and broader issues surrounding them illustrate why the Unstoppable Women of Web3 initiative, which was being planned before the ENS controversy came to light, is so important.
“There’s a big opportunity here to avoid making the same mistakes leaders did in the Web2 era,” Carter added. “This shouldn’t be a boys club. That’s what Women of Web3 is about—committing to diversity now, right from the start, and making it a non-negotiable part of Web3.”