Breaking Down World of Women - The NFT Project That's Celebrating Diversity in the Community

September 16, 2021 - 7 min read

This article breaks down the World of Women NFT project that's celebrating and promoting diversity in the NFT space. Created by Yam Karkai, the art featured in WoW puts women at the center of the project.

Breaking Down World of Women - The NFT Project That's Celebrating Diversity in the Community
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Introduction 

The NFT space is rapidly expanding but when we zoom out, only a small portion of the population is buying and selling NFTs. I’ve written before about how important community is to the success of an individual NFT project, but the reality is that community also matters for the growth of the entire market. 

We all have an opportunity to be ambassadors to normies (the term used to describe people who are not involved in NFTs) and help lift up the market as a whole. 

With that said, I noticed a Tweet yesterday that mentioned World of Women, the top NFT project founded by a female creator, and how it isn’t talked about enough. My goal with this blog is to fill those ambassador shoes and expose readers to projects that may not have seen or know much about. 

After seeing that Tweet, I decided it was important to write about World of Women, created by Yam Karkai, who’s keen on attracting women to NFTs and embodies that ambassador role through her project. 

As I dove deeper into my research, I realized why this project is so popular and that reading this will help many of you understand the value of an artist, what that artist stands for and inspires in an audience, and creative ways for NFT projects to build value for holders as well as the entire community. 

Please remember, this is not financial advice. Just because I like a project, does not mean you need to. I do not own any assets in the World of Women NFT project. Never spend money you can’t afford to lose on NFT projects. 

Quick links for the World of Women NFT Project

You can purchase assets from the project from the Opensea Collection here.

You can join the Discord Group to chat with members and learn more about the project. 

You can join the other 30,400 people following World of Women on Twitter to get updates from the project and interact with the community. 

You can learn more about the project by heading to their website here

What is the World of Women NFT Project? 

“World of Women is about growing the nft art space that’s already here and that we love. We see thousands of artists committed to the space and we will do our part to lift the market up.” — World of Women website 

World of Women is a collection of 10,000 hand-drawn women from artist Yam Karkai, whose goal was to put women at the center of her project. Karkai wrote on her LinkedIn profile that she draws inspiration from pastel colors, art movements from the 1960s and 1970s, and her middle-eastern heritage. 

Thus, the assets in the project feature bright colors and resemble artwork from feminist art in the late 1960s, particularly some pieces from Bridget Riley

There are 11 traits and 189 attributes that make up the unique designs of each artwork with different backgrounds, skin tones, clothes, hairstyles, facial features, pairs of earrings, necklaces, mouths, lip colors, and eye combinations that help promote diversity: 

World of Women NFT Assets

Source: Opensea.io

You can check the rarity of each asset in the project using Rarity.tools.

The project launched on July 27th with a mint price of 0.07 ETH (~$238) and has since risen to a floor (lowest price available for sale) of 1.44 ETH (~$4,896) with a record sale of 100 ETH (~$340,000) for one of the artworks. 

Some of these assets fall into different clubs that include: 

(1) Royalties Club (19 assets): 2% of all secondary sales on Opensea are split between the holders of these 19 assets 

(2) Investors Club (29 assets): 50% of the profits generated by the WoW fund are split between holders of these 29 assets. The WoW fund was allocated 15% of primary sales to purchase 1/1 crypto art — if that art is sold, used commercially, etc. then 50% of those profits go to these holders 

(3) Curators Club (22 assets): Each holder of the assets in the Curators Club gets to select an NFT art to be purchased by the WoW fund 

While I haven’t seen every NFT project that’s out there, this is the first time I’ve come across a project that incorporated clubs like this with significant benefits. For example, Royalties Club holders gained access to 2% of all secondary sales, or 17,400 ETH ($59.1 million). That’s 348 ETH split between 19 assets, which is 18.3 ETH (~$62,220). 

Holders of assets in the Curators Club will each get to select an asset (once per month) to be purchased by the WoW fund, which enables them to support their favorite digital artists. 50% of the profits from the WoW fund go to holders of assets in the investors club. All of the benefits connected to these clubs will be valid for “a minimum of 18 months” according to the WoW website. 

You can view the artwork that has been purchased by the WoW fund by clicking here

The creators of the project also allocated 2.5% of primary sales to be donated to three causes that align with the creator’s mission of empowering women: She’s The First, Too Young to Wed, and Strange Cintia

Holders of any asset in the project will also receive 50% royalties from any profits that are generated from the commercial use of the assets. 

Key Takeaways 

There’s a lot to like about this project. As you research NFTs, keep some of these elements in mind to give you perspective on what a successful project looks like: 

  • A public-facing, talented creator with a clear mission 

  • A team that recognizes the importance of NFT community and supporting other artists 

  • Creative financial incentives for holders of the assets 

  • Artwork that stands for something 

  • Financial allocations that back what the artwork stands for 

  • Commercial rights for the owners of assets 

Every project is going to be different and doesn’t have to include these elements to be successful. There is no formula that will translate to an immediate appreciation of value, so it’s best you find projects that align with your interest and passions. 

No one has a crystal ball and can tell what the future will hold with 100% certainty. In some cases, the artist and their vision will matter significantly. In other cases, the execution of the project roadmap will matter more. Note: I prefer to be cautiously optimistic when a project roadmap makes too many promises (for example, commercial rights for any project will be difficult to materialize significant value). 

The reality is that people get bored with projects and chase the next mint that might turn them a profit. Over time, my prediction is that too many people will get burned and start to get more focused on quality projects, which will lead to increased valuations of those projects. 

While I don’t own a World of Women asset, I believe that it is a project a lot of people will get behind both for empowering women and promoting diversity in the NFT space. Again, this is not financial advice. I’m just 1 person on the internet who’s only spent 2 1/2 months in the NFT space. 

Jon Torrey

written by

Jon Torrey

NFT Enthusiast

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