A version of this article was published in TIME’s newsletter Into the Metaverse. Get a Weekly Guide to the Future of the Internet.It is possible to find You can find past newsletter issues here.
NadyaTolokonnikova was an artist, feminist, Pussy Riot cofounder, prisoner, and foreign agent over the past ten years. Russian government), poet, and mother. There are some things she’s not: A tech maven, a fraud artist, and a hype entrepreneur.
But this month, Tolokonnikova, 32, is launching UnicornDAO, a cryptocurrency investment fund and the first component of the “Pussyverse” she’s building in Web3. The move is a transition for Tolokonnikova, 32. She views it as a step forward in her career as a leader for the future feminist she has fought for since she was young. “For the first time in years, I don’t feel like I’m the only one person in the room who is encouraging people to think further than just the electoral cycle,” she says over Zoom from an undisclosed location.
[time-brightcove not-tgx=”true”]
She must be careful about sharing whereabouts because of her Russian diplomatic status. Her excitement can be felt even on a computer screen. “It’s the first time when anarchy is not just a promise, it’s actually something achievable,” she says. “Anarchy means, for me, decentralized, self-governing systems.”
For a Russian watching her country’s economy get battered by Western sanctions following President Vladimir Putin’s invasion of Ukraine, those self-governing systems make more sense each day. The value of the ruble fell as many Russian banks were removed from the traditional international financial system. Interest rates rose overnight.
Cryptocurrencies are suddenly looking much more stable—despite criticism of volatility. Tolokonnikova has been well prepared for this new focus on crypto. “For the first time in my life, I’m able to use economic tools as my paints and brushes,” she says.
That’s what she did. She helped to launch UkraineDAO in just a few days after the February invasion. The campaign saw almost $7 million in donations of cryptocurrency, and funds were directed towards Ukrainian aid agencies. “It’s really important for me to be a good activist and be an influential artist to be able to maintain my anti-Putin voice. In that way, it’s all inherently connected,” she says.
Americans might balk at her interest in a concept like anarchy, but for Tolokonnikova, it represents unassailable freedom and equality—something that, as an outspoken Russian, she has been punished for wanting. Tolokonnikova was born in Norilsk and studied philosophy, art, and progressive politics. Tolokonnikova was sentenced to two-years in prison, and she was also jailed out of Moscow. She had to leave behind her four-year old daughter. She claims she suffers from PTSD due to the time in prison. Her crime: a guerrilla musical performance—with her feminist group Pussy Riot—staged at a Moscow cathedral, called “Punk Prayer: Virgin Mary, Please Get Rid of Putin.” Tolokonnikova is a well-known face in Russia for political dissent. However, she has continued to pursue a music career and raise funds for feminist causes in Texas. (For her First collectionShe auctioned copies of 2012 sentencing papers, which she had graffitied with her colorful drawings.
What Tolokonnikova created with UkraineDAO and is launching now with UnicornDAO are examples of Web3’s buzzy new organizing principles. DAO stands for “decentralized autonomous organization,” and like a casual hedge fund or a group chat with a pooled crypto bank account, DAOs are made up of collections of individuals who are buying in to a shared vision or purpose. The hierarchies are ostensibly flat; the decisions about activities and investments are made based on conversation, often on Discord; and the critical binding component is a so-called “smart contract,” a document that lives on the blockchain. This is not Tolokonnikova’s first foray into collective action; in many ways, Pussy Riot itself was an early DAO, a loose and leaderless organization with a singular mission, many members, and equality of decision-making in its ethos.
UnicornDAO is a fund for art collectors. DAO members are asked to make contributions to this pool to help them invest in female artists and those from other backgrounds. The non-profit arm will be dedicated to helping artists navigate Web3 opportunities, the NFT market and incubating their careers. It is fitting that its founder team includes Rebecca Lamis, co-founder.
DAOs today are big business. A DAO social club called Friends with BenefitsRecent valuations by investors, which included Andreessen Horowitz Venture Capital firm, attained $100 million. ConstitutionDAO, an investment group called ConstitutionDAO, raised $17million to buy a copy the U.S. Constitution. Their bid was rejected, but they were well-known. PleasrDAO spent millions of their common coffers to acquire rare and collectible NFTs. Each member and their respective values define each one. DAOs are flexible enough that backers think they could serve as blueprints for future corporate structures or to reinvent hedge funds. DAOs are being reimagined by hedge funds and venture capital companies. Venture capital firms have invested millions in them. May currentlyUnder DAO management
Tolokonnikova’s UnicornDAO has a distinct mission. It is focused on the NFT market—and in rebalancing the scales for women-identifying and non-binary artists in a space that is already reflective of problematic gender norms. Currently, art by women sells for 50% less than that of art by men, and as few as 5% of NFT sales go towards projects from female artists, according to Tolokonnikova and her group’s research. Many artists have missed a huge financial opportunity. In 2021. Around $41 billionNFTs were associated with cryptocurrency worth, according to a report by Jefferies Bank in January. ForecastedThe NFT market capitalization is expected to rise to more than $80 billion by 2025.
For Tolokonnikova, it’s also personal. “I had a really unpleasant interaction with a couple of collectors who thought they could take advantage of me just because they’re collecting my artworks,” she says. “It definitely does not fly with me. But I’m bringing a lot of girls into this space. And I don’t want them to experience something like that.” Plus, she wants to make sure that girls like her now-14-year-old daughter don’t feel limited by the “boys’ club” mentality that can prevail in tech. (Consider: her most recent song, “Punish,” which introduces a “vengeful hero who’s going to punish men for wrongdoings,” she says, smiling.)
“I fell into a trap that’s typical for a girl; that girls are not supposed to do anything tech-related,” she says. Even as an artist, she’s struggled to prove her worth. “Just because of my gender, and the way I look—because I do enjoy wearing short skirts—there could still be a moment where you’re dismissed immediately, and alienated and objectified,” she says. Her answer: building what she calls “infrastructure for a feminist revolution on the blockchain.”
UnicornDAO does not represent the only crypto-based group that is focused on feminist issues. HerstoryDAO and other projects like it are also available. Komorebi CollectiveThe NFT collection World of Women and… have tried to create similar equal spaces. But with Pussy Riot’s fame attached, and the backing of blockchain payments platform MoonPay and figures like Guy Oseary and Justin Aversano, Bored Ape Yacht Club creators Yuga Labs, artists Beeple and Pak, and Gary Vee’s VaynerFund, UnicornDAO is expected to make a splash.The team has already begun planning events for March’s annual SXSW conference, which will be held in Texas.
UnicornDAO is part of a larger vision—which Tolokonnikova hopes will grow into the virtual Pussyverse, a still-undefined home in Web3 where women, nonbinary, and queer artists and activists will be the dominant forces. This launch marks the tenth year anniversary of the iconic protest performed at Moscow Cathedral. “Our ultimate goal is to truly change the world. It’s also a way to create art. And I’d say that traditional Web2 platforms, they’re not really good [for that],” she says. Platforms owned by corporations—whether traditional auction houses like Sotheby’s or streaming platforms like Spotify or YouTube—give creators little control over the future and value of their work. NFTs, a distributed marketplace for NFTs, preserves more. “I’m consciously trying to rework mistakes that were made in previous systems, especially in terms of gender equality,” she says.
Tolokonnikova’s daughter is already creating her own collection of NFT art, and Tolokonnikova is clearly proud. “She already has a couple of wallets; it’s pretty impressive,” she says. “She does her investigation on her own, then she comes back to me and shares her insights and what she believes is going to be the next big thing.” Tolokonnikova wants a world where her daughter won’t feel intimidated by technology, and won’t be demeaned by structures that minimize women’s work. So she’s building it.
For a weekly look at the Internet’s future, subscribe to Into the Metaverse
Get involved with TIMEPieces TwitterDiscord and Harmony
