The decision by the U.S. Supreme Court to overturn Roe v. Wade could have a huge impact on access to abortions. The cryptocurrency and NFT sectors have been taking note for months of a potential ruling and are raising money to support one another. Here’s the latest.
What Happened: After a draft opinion of Roe v. Wade leaked in May, Molly Dickson began drafting a non-fungible token (NFT) collection to raise funds to support abortion rights groups, the Washington Post previously reported. Dickson formed CowgirlDAO, a decentralized autonomous organization to raise funds, with the DAO launching a collection of 10,000 NFTs, which is now minting.
The collection called F*** You has three different images and editions. The titles of the works are “My mom said you’re not supreme, Alito,” “Never heard of you, Coney Barrett” and “Kick Rocks, Kavanaugh” all named after Supreme Court justices who voted to overturn Roe V. Wade.
CowgirlDAO hosted a Twitter Inc (NYSE: NYSE:TWTR) Spaces to help spread awareness. Dickson previously designed a collection called Computer Cowgirls, which raised more than $30,000 for Fund Texas Choice, a Texas nonprofit that helps with transportation costs for travel out of state for abortions.
CowgirlDAO modeled its work and initiatives after the Ukraine DAO, which raised more than $6 million for Ukraine after the invasion by Russia. Ukraine DAO sold NFTs of the Ukrainian flag to raise funds.
A Twitter account for Choice DAO was founded to raise funds for abortion rights. The group is not accepting donations yet but has a future goal of raising $1 million in 26 days. The number of days refers to the number of states expected to ban abortion.
“We’re leveraging community and capital to combat one of the greatest threats to personal liberty in our lifetimes,” the DAO’s website reads.
The DAO will vote on four different donations of $250,000 using a community voting system to award the funds. A donation to the DAO grants access to the community and a vote in decisions.
Related Link: 3 Women's Health Stocks Are Soaring Following Roe V. Wade Ruling
Why It’s Important: Cryptocurrency and NFTs being used to raise funds for abortion rights groups could rise in popularity after the recent U.S. Supreme Court ruling.
Similar to the invasion of Ukraine by Russia, people around the world can now find ways to donate funds to those directly impacted by the ruling.
Those wishing to donate should be aware that some scams could arise to take advantage of these funds set up for this political issue.
Photo: Cowgirl DAO
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