When it comes to the representation of women, the world of Web3 has a lot of catching up to do
The next wave of digital opportunity is Web3, defined as an era of blockchain technology, decentralized finance, data ownership, and no third-party overloads.
Web3 is driving new conversations, centered around the expanding world of cryptocurrencies and non-fungible tokens, or NFTs. It is being led by communities of people drawn to the crypto space who form decentralized autonomous organizations of crypto supporters. It has also become a prime opportunity for creating a more diverse world.
There’s no denying the current narrative on Web3: it’s a boys’ club. And, if we continue to affirm this narrative, it is destined to come true. The truth of crypto as a boy’s club won’t just hurt women – it will hurt the entire promise and growth of Web3.
Web3 is not an exclusive club designed to keep people out. It’s a rising tide party that turns all the boats up and gets better every time someone new joins. The more people involved, the better the results for everyone.
Metaverse, Web 3.0, and blockchain are the biggest buzzwords going around these days. And yet, when it comes to the representation of women, the world of Web3 has a lot of catching up to do.
Whether it is investors in cryptocurrency or women developers and leaders in the space, the segment is significantly underrepresented. According to several media reports close to two-thirds of the US cryptocurrency investors are men. Of these close to 60% are white. In India, 15 percent of the cryptocurrency exchanges are represented by women.
With NFTs becoming popular, several women are entering the Web3 ecosystem through NFTs. Women also say that non-fungible tokens give a fair idea of how fewer women are present in the space at this juncture. NFTs are digital representations of physical objects like art, music, in-game items, and videos. They are stored on the blockchain and can be bought and sold online, often with cryptocurrency.