Zubachee sees Web3’s potential to help Black women create businesses

Still in its infancy, Web3 is ushering in a new era that some believe could transform ownership and foster business growth. For Zubachee, a metaverse ecosystem created by former bankers Lyndsae’ Peele and Casey Ariel (who now serves as an advisory board member), Web3 represents a pathway to empower and uplift Black women in business.

“The COVID-19 pandemic highlighted the need for access to capital, both venture capital and basic funding, to start and grow businesses,” said Peele in a phone interview with Technical.ly.

Peele is working on creating a Web3 marketplace that aims to provide tailored tools and support for Black women entrepreneurs.

“Like many startups, we initially relied on bootstrapping — still do — and using funds from our own businesses,” Peele said. “However, we were fortunate to receive support through a successful crowdfunding campaign, which provided a valuable push.”

The crowdfunding campaign, led by Kiva micro-lending site and funded by 414 lenders, raised $9,500. These funds were used for research, development and staffing for Zubachee, as described in the campaign.

One core tenet of Peele’s work with Zubachee is the commitment to address the funding gap faced by Black women who might identify as business owners. Zubachee’s work starts through the use of tokenized capital — an approach that Peele says might empower Black women-owned businesses to circulate resources and even capital within the metaverse. The model resembles components of the Horizon Creator Community.

“Our goal is not to replace traditional financial institutions but rather to complement them,” Peele said. “We recognize the importance of banking partnerships, as they provide access to valuable information for our members. Collaborating with banking partners will allow us to educate entrepreneurs about Web3 and how the metaverse can support their businesses. We hope for it to be a symbiotic relationship where we can leverage their resources to empower and guide our members effectively.”

Just as the aforementioned Meta-backed space allows users to explore, play and create with others in VR, Zubachee envisions a metaverse where Black women entrepreneurs can connect, collaborate and thrive. Recognizing the crucial role of education in business growth, Peele emphasized the concept of “edutainment” within Zubachee.

“We are aware of the numerous accelerators, workshops and resources available for entrepreneurs to access,” Peele said. “However, many of these options are outdated and do not effectively cater to our cultural needs. The information being disseminated often lacks representation from individuals who can truly resonate with Black women in business.”

As part of this initiative, Zubachee is developing a curriculum and organizing events and workshops. The company will also integrate gamification elements into its metaverse platform, encouraging engagement and support. By incentivizing participation in events, marketplace interactions and community connections, it seeks to foster continuous learning, collaboration and a tailored network for Black women in business.

Zubachee hosts a monthly “Meta Mixer” every fourth Wednesday, during which attendees can expect engaging connections and insightful discussions. This July, the latest installment focuses on the theme of “Growing Your Business in the Metaverse.”

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