Značka: women

Women remain bullish on crypto investment despite market lull: Survey

The crypto market downturn is proving a difficult storm to weather for both investors and businesses alike in the industry. However, according to new data, this hasn’t stopped women from being bullish on crypto.A new survey conducted by BlockFi, a crypto trading and investment platform, asked women across the United States about their views of and participation in the crypto industry between Sept. 2021 and Mar. 2022.According to the findings one in ten women chose crypto as their first investment, with 17% of that being Millennial women investors and 11% Gen Z. Findings even revealed that of the women surveyed 7% of Gen X, which includes individuals born between 1965-1980, reported crypto as their first investment.However, as past data has revealed, more education and clarity surrounding the space is needed to make investors feel secure and confident in their investment.The survey highlighted that while an overwhelming majority of surveyed women (81%) have heard of crypto, 77% still view it as a risky investment.Flori Marquez, the founder and chief operating officer of BlockFi, echoed the sentiment that education is key to bringing more women into the space:“Knowledge drives empowerment and confidence. “Despite the barriers, both market and education-wise, many women still see a place for themselves in the industry. Over one in five (22%) said they have the intention to buy crypto in the next year. 20% of Gen Z women called Bitcoin the “best long term investment” among others in a lineup of investment choices.Related: US lawmakers say crypto industry has a ‘tech bro’ problem hurting innovationData from the BlockFi survey showed that women are indeed here to hodl with 69% of female crypto owners saying they hold crypto and remain hold-only. Marquez says the current downturn of the crypto market is the perfect time to build on these communities of female hodlers. “The best building happens during bear markets. It’s imperative that we utilize this time to build products and communities that are inclusive to all investors.” Back in May of this year, billionaire Tim Draper insisted that the next bull market will be driven by adoption from women investors.

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Web3 projects focus on education to bring Latin American women to the sector

Interest in Web3 continues to grow despite the crypto bear market. A recent article from McKinsey noted that venture capital investments in Web3 exceeded $18 billion during the first half of 2022. Findings from Cointelegraph Research also show that Web3 attracted the most interest from venture capitalists in comparison to other blockchain sectors during Q2 of this year. While notable, a lack of diversity has become apparent within the Web3 sector. For instance, it was found that only 16% of nonfungible token (NFT) creators are women. Although this number is low, women are taking an interest in owning digital assets. Given this, industry experts believe that a lack of education around Web3 is creating a barrier to entry for women, especially for those who are from underrepresented regions, such as those from Latin America.Initiatives to bring Latin American women to Web3Sandy Carter, senior vice president and channel chief of Unstoppable Domains — an NFT domain name provider and digital identity platform — told Cointelegraph that she has seen increased demand for Web3 content from women living in Brazil, Columbia and several additional Spanish-speaking countries, including Spain. “On March 8, 2022, Unstoppable Domains launched ‘Unstoppable Women of Web3,’ which is a diversity and education group focusing on training talent to equalize the playing field in Web3. Following this, a number of Latinas reached out requesting Web3 content in various languages,” she said. Recent: Crypto adoption: How FDIC insurance could bring Bitcoin to the massesIn order to cater to these requests, Carter explained that Unstoppable Domains recently initiated a goal to onboard 5 million Latin American women into Web3 by 2030. Carter added that this initiative is being launched in partnership with H.E.R. DAO LATAM — a women-led developer decentralized autonomous organization (DAO) championing diversity — along with the Spanish-language crypto education platform CryptoConexión. She said: “Education is the first step to building a more inclusive Web3. We have partnered with women from 25 different groups to help create educational materials around Web3 in Spanish. We are also distributing over $25 million worth of free NFT domains to five million Latinas to help them build and control their digital identity as a gateway into the sector.” According to Carter, initiatives like these are becoming more important, as she pointed out that women who live in or trace their ancestry to Latin America continue to be underrepresented in the tech industry. To put this in perspective, data from the online tech community Built In found that only 2% of computing-related jobs in the United States are held by women of Latin American descent. The same applies in Latin America itself, where women are significantly underrepresented in science, technology, engineering and math fields, according to research from IDB. Monica Talan, founder of CryptoConexión, told Cointelegraph that organizations must take an education-first approach that incorporates different languages to bridge the Web3 diversity gap, stating, “CryptoConexión has an initiative called ‘WAGMI LatAm,’ where our mission is to ensure access to Web3 content in English, Spanish and Portuguese.” Additionally, Laura Navarro Muñoz, governor of H.E.R. DAO LATAM, told Cointelegraph that the organization is helping women in Latin America transition to Web3 by providing travel scholarships to events and hackathons. Women participating at the Devcon Bogota hackathon. Source: H.E.R. DAO LATAMGroups like H.E.R. DAO LATAM and CryptoConexión have already started making an impact. Bricia Gabriela Guzmán Chávez, community manager at Web3Equity — a Web3 platform promoting gender equality — told Cointelegraph that she got her first job in the sector after obtaining a scholarship from H.E.R. DAO LATAM to attend a cryptocurrency event: “I heard a speaker say, ‘If we want to have more inclusion, we have to do it.’ That day, I joined the H.E.R. DAO Global Telegram where someone shared a position for ‘Discord moderator.’ I applied, and my life changed. Yet, at that moment, I didn’t have the hard skills that I have right now, so I’m grateful that they gave me their vote of confidence.”According to Guzmán Chávez, H.E.R. DAO LATAM also created a scholarship program following ETH Mexico called “Hacker Mom Scholar.” Through this, she was able to attend Devcon VI with her three children. “Currently, I’m working full-time remotely on Web3 projects, and each chance that these projects provide me to attend Web3 events is an opportunity to improve the quality of my life,” Guzmán Chávez mentioned. Talan further remarked that it’s important for Latin American women to get involved in Web3 due to the demand the sector is witnessing in the region, especially in places like Mexico. “Mexico is seeing more people use crypto for remittances,” she said. According to World Bank statistics, Mexico was the second-largest recipient of remittances in the world last year. Given this, a number of Web3 companies are setting up shop in Mexico to enable crypto remittances. “We need information available about how crypto remittances can be used. I believe this can be better achieved if we have more women building these products,” Talan said. Challenges for Latin American women seeking jobs in Web3While it’s notable that organizations are focused on bringing women from Latin America to the Web3 sector, challenges such as hiring freezes and access to technology may hamper adoption. For instance, data from Crypto Jobs List noted that the number of job listings and talent interested in the space has declined about 30%–40% in comparison to the last bull market in February 2022.On the flip side, Web3 is enabling more remote job opportunities, which may help drive a diverse workforce. “Web3 is helping people get high-paying jobs regardless of their location. All they need are the skills, which is why we are focused on education first,” Navarro Muñoz pointed out. Recent: Institutional crypto adoption requires robust analytics for money launderingDiana Carolyn Olvera Gómez, a Web3 researcher, told Cointelegraph that H.E.R. DAO LATAM gave her the opportunity to participate in her first hackathon. The organization also presented her with educational content in Spanish. In turn, Olvera Gómez shared that she remotely serves as a contributor to Web3Montréal, a Canadian nonprofit focused on Web3, and to Coinmiles, a Bitcoin (BTC) rewards platform. However, Olvera Gómez mentioned that access to technology, such as Web3 initiatives, can be complicated for many women living in regions like Latin America. Yet she believes that a ripple effect will drive women’s involvement as more get involved.“Web3 communities dedicated to women provide an opportunity to bridge the gender gap in the workplace.” Carter added that demand from women wanting to participate within Web3 is there, yet supplying the correct educational content is the next challenge: “We are in a bear market, but this is the time for building. Energy and enthusiasm around the space haven’t waned. We just need to figure out how to supply education to those interested in learning more.” 

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NFTs and crypto provide fundraising options for breast cancer awareness

The hype around nonfungible tokens (NFTs) may be fading, yet a number of organizations continue to implement Web3 initiatives. Nonprofit organizations and activists, in particular, have begun implementing nonfungible token projects to help fundraise and generate awareness for certain causes. While these methods are still new, NFT projects for philanthropy have been met with relative success. A recent report from crypto donation platform The Giving Block found that nonprofits using The Giving Block received more than $12.3 million dollars in cryptocurrency donations from NFT-related charitable giving initiatives in 2021. The report further noted that charitable organizations using NFTs are presented with the opportunity to connect with younger donor demographics while diversifying donation methods. NFT projects for Breast Cancer Awareness Month Benefits such as these can be especially helpful for raising awareness around life-threatening diseases. number of breast cancer-focused organizations have started implementing NFTs this October to highlight Breast Cancer Awareness Month. For example, Shaney jo Darden, founder of the Keep A Breast Foundation (KAB) — a California-based nonprofit that aims to reduce breast cancer risk — told Cointelegraph that KAB focuses on engaging with younger generations to bring attention to breast cancer. She said:“Even though women over the age of 40 are typically diagnosed with breast cancer, early detection can result in a 98% survival rate. Given this, KAB aims to generate awareness about breast cancer through encouraging and fun ways, like using NFTs to educate young women.” Darden said that last year, KAB hosted an exhibition in the CryptoVoxels metaverse to raise money for breast cancer research. “We wanted to do an event in the Metaverse as opposed to conducting a membership drive or gala, since this opens access globally,” she noted. Based on the success of this, Darden explained that she wanted to continue to implement Web3 initiatives — especially those involving artwork created by women — to generate awareness around breast cancer. Most recently, Darden partnered with the NFT project NFTitties to raise funds for KAB’s breast cancer prevention and educational initiatives. Carlota Dochao Naveira, founder of NFTitties, told Cointelegraph that the women-led project celebrates women, art and breasts to raise funds to fight breast cancer. “Emerging artists and activists were invited to submit an artwork representing breasts, following a set of visual guidelines. The artworks were then vetted and, if selected, included in the first release of NFTitties,” she said. NFTitties #1.14 by Medici_Labs. Source: OpenSeaAccording to Dochao Naveira, almost 30 NFTs were sold during the first week the project launched on Oct.1. She further pointed out that NFTitties has helped onboard more women into the Web3 ecosystem since the initiative encourages women artists, activists and others to submit their artwork to be presented as nonfungible tokens. Other organizations are implementing different forms of NFTs to educate individuals on this type of cancer that affects one in eight women. For example, the women’s handbag designer Vera Bradley announced on Oct. 3 that it will be donating almost 100% of the proceeds generated from its fashion NFT drops to The Vera Bradley Foundation for Breast Cancer.Jennifer Bova, vice president of marketing at Vera Bradley, told Cointelegraph that to date, the foundation has raised and donated more than $38 million to support critical advancements in breast cancer research. Yet, Bova noted that Vera Bradley has started focusing on marketing in the Metaverse to attract new users by attaching philanthropic utility to its digital and physical fashion NFTs. “Through its NFT PFP backgrounds, Vera Bradley hopes to drive awareness for fundraising, as well as female-led conversations and initiatives in Web3,” she said.We’re proud to announce through @TheGivingBlock, we’re now accepting #DOT donations to support lifesaving research in all areas of #breastcancer, from basic biology to prevention to treatment & to survivorship. Donate @Polkadot and 80+ other #cryptos today https://t.co/XoT7atRdV5 pic.twitter.com/JgTYBx1JkQ— Susan G. Komen (@SusanGKomen) August 10, 2022It’s also notable that Susan G. Komen, a leading breast cancer research foundation, recently began accepting crypto donations to enable cryptocurrency holders to give back. Michelle Strong, vice president of marketing strategy at Susan G. Komen, told Cointelegraph that about a year and a half ago, the organization began receiving requests from individuals interested in donating cryptocurrency:“We implemented this feature nearly a year ago with the help of The Giving Block. This has driven interest from both current and new donors, as crypto donations have opened doors to those who haven’t been able to give before but were interested in being charitable.” Based on the successful implementation of crypto donations over the past year, Strong mentioned that Susan G. Komen will be incorporating crypto donations, along with other digital donations received during the week of Oct. 9–15, to fund the organization’s metastatic breast cancer excellence in research award. “Oct. 13 this year is ‘metastatic breast cancer’ day, which is the most advanced stage of the disease. Susan G. Komen is giving out the excellence in research award to bolster investment around this specific area of research and cryptocurrency is another great way to support this,” she remarked. Web3 initiatives are helpful, but not necessarily betterWhile the use of NFTs and crypto donations to support breast cancer is innovative, these initiatives are still only helpful ways to bring attention to certain causes. For instance, Bova pointed out that driving awareness and funds for breast cancer research in the Metaverse is not necessarily better but rather an additive resource to tap into new donors and volunteers. Echoing this, Darden mentioned that incorporating NFT projects with KAB enables the organization to diversify its funding, yet it hasn’t proven to be a better solution in comparison to traditional fundraising mechanisms:“Many NFT projects die out over time, so KAB is taking a risk by being a part of certain projects. However, NFTitties has a clear goal and beautiful art that resonates with the KAB community.”Indeed, even though there are a number of risks associated with NFT projects, nonfungible tokens remain appealing when it comes to increasing user engagement and interest. “Susan G. Komen is happy to benefit from NFT projects that others are able to pull together. We are currently in conversation with an NFT project that aims to benefit our organization,” Strong noted. Yet, it’s also important to point out that, in addition to risks, there are challenges associated with implementing such projects. According to Dochao Naveira, targeting traditional NFT investors can be difficult when it comes to women-led initiatives “There tends to be a bro-culture in the Web3 space that doesn’t care as much about certain projects. There can also be difficulties with helping mainstream users set up a MetaMask wallet,” she said. But, as time progresses, Web3 projects aim to incorporate new features to help ease onboarding and educate new users. For example, Carmen Toal, CEO and co-founder of Sprkl NFT Studios — a platform working with nonprofits and individuals to implement NFT technologies — told Cointelegraph that mainstream users typically need more guidance when it comes to participating in NFT projects. As such, she mentioned that Sparkl NFT Studios incorporates familiarities with charitable NFT initiatives. “We sometimes include a ‘donate now’ button that is not directly attached to an NFT,” she said. Most recently, Sprkl NFT Studios partnered with the National Breast Cancer Foundation, Inc. (NBCF) on an NFT artwork fundraising campaign for Breast Cancer Awareness Month. Candice Hensley, senior manager of strategic partnerships at NBCF, further told Cointelegraph that working with Sprkl NFT Studios is part of the organization’s strategic plan to diversify its funds. Sprkl NFT Studios commissioned artist Pola a Yim to create and draw an original flower bouquet for a digital NFT to support Breast Cancer Awareness. Source: Sprkl NFT Studios

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Web3 had a small, yet important presence at Paris Fashion Week

Paris Fashion Week 2022 consisted of 64 shows and 42 presentations, many of which demonstrated the future of fashion. From the sprayed-on dress worn by supermodel Bella Hadid at the Coperni show to upcycled fresh looks consisting of recycled garments, Paris Fashion Week brilliantly highlighted trends for upcoming seasons. While the majority of Fashion Week attendees and designers celebrated physical elements — such as in-person fashion shows and tangible designs — a handful of creators incorporated Web3 features to demonstrate fashion’s enormous digital potential. Web3 democratizes fashionShedding light on this, Victor Weinsanto, a French designer who launched his brand in 2020 after spending two years working with the famous Jean Paul Gaultier, told Cointelegraph that virtual worlds allow creators to design without having to use real fabrics and materials. “In a sense this ensures sustainability, even though a lot of energy and time is used to create such collections,” he said. Weinsanto revealed his first digital collection M3TALOVE immediately following his fashion show that took place in the Marais district of Paris on Sept. 26. Unlike traditional fashion week experiences, The M3TALOVE collection was showcased as 3D holograms within a series of glass cases housed in a dark room, equipped with bright lights and a DJ. Such a setting seemed appropriate, as the collection was a collaboration between Weinsanto and K-Pop girl band Lightsum. The “M3TALOVE” collection from Weinsanto and BNV. Source: BNVRichard Hobbs, founder and chief operating officer of Brand New Vision (BNV) — the Web3 platform behind M3TALOVE — told Cointelegraph that the idea for this collection was inspired by the possibilities of merging K-pop culture with fashion. “This was a collaborative experience with Victor presenting his concepts to each of the eight members of Lightsum, who then gave their comments and suggestions before BNV converted the sketches into digital outfits, along with individual customized avatars for the eight girls.”Weinsanto added that the M3TALOVE collection was one of the best ways to use nonfungible tokens (NFTs) to showcase a collaboration between music, the Metaverse and fashion. “I wanted a collection that could be wearable, but still have details that would be impossible to incorporate in real life.” Going beyond realistic concepts is indeed one of the most important features offered by Web3 fashion. Hobbs remarked that M3TALOVE is an entirely digital collection, noting that this allows for more imaginative concepts, along with the sustainability. “BNV’s business is digital fashion. If people can wear more virtual products and express themselves in that world while consuming less in the real world, that’s probably a good thing,” he said. Hobbs makes an important point, as it was previously reported that a typical New York Fashion Week emits up to 48,000 metric tons of carbon dioxide. The French luxury fashion house Balmain also showcased its Web3 presence at Paris Fashion Week this year. Balmain introduced “Balmain Thread,” which is the brand’s Web3 hub powered by the XRP Ledger that is designed to unite their community with NFT projects. Txampi Diz, chief marketing officer of Balmain, told Cointelegraph that Olivier Rousteing — who has been the house’s creative director since 2011 — along with the entire Balmain team, have become acutely aware of the need to democratize fashion. According to Diz, this led to the creation of the Balmain Thread. He said:“We are stressing the need to open up fashion, democratizing a previously closed-off universe. We knew that we had to introduce the Balmain Thread during our annual Balmain Festival, which is a celebration that mixes our runway presentation for Paris Fashion Week with a one-of-a-kind live concert that is live streamed on Balmain.com.”Diz explained that Balmain Festival attendees were presented with the opportunity to join the Balmain Thread community when they received their tickets. He added that those live-streaming the festival were provided with links to join on Balmain.com. “And all of those in the audience on the evening of the festival were invited to join by launching ‘The Moment,’ which is a mobile photo experience app powered by MintNFT that allows participants to transform their favorite Balmain Festival fashion moment into their own unique NFT.” While innovative, Diz pointed out that the ultimate goal behind Balmain Thread is to ensure new forms of communication with the brand’s followers while opening access to those who haven’t been involved with Paris Fashion Week before. He elaborated:“Inclusion is a keyword in fashion, as we all know that the old vision of exclusivity and closed-off experiences is just not feasible for the new generation of fashion lovers. Web3 is one of the many interesting new tools that allow us to open our world to those who wish to enter.”While such a concept is catching on with renowned fashion houses like Balmain, emerging brands are also incorporating Web3 experiences to provide greater accessibility for both consumers and creators. For example, the Paris-founded fashion company Faith Connexion highlighted their Web3 platform, Faith Tribe, during fashion week this year. Maria Buccellati, co-owner and co-founder of Faith Connexion, told Cointelegraph that Faith Tribe is an incubator under Faith Connexion that allows independent creators to design and customize digital and physical fashion assets that can then be minted into NFTs. Buccellati said:“We had a showroom at Paris Fashion Week this year to display some of the collaborative names and labels that are part of Faith Tribe. This makes Faith Connexion an inclusive brand, which is different from the major players like LVMH. We are leveraging Web3 to give power back to creators.” To put this in perspective, Buccellati shared that Faith Connexion announced during Paris Fashion Week that Gavin Magnus, a fifteen-year-old pop star and social media influencer, will be partnering with the brand to create an NFT line. Wahid Chammas, co-owner of Faith Connexion, further told Cointelegraph that Faith Connexion is already working with hundreds of new designers to provide them with tools such as virtual studios, IP registrations and NFT minting capabilities to expand their presence. Unlike BNV, which focuses strictly on digital collections, Chammas explained that Faith Connexion emphasizes physical production associated with digital twins. “We believe that any designer will be able to create and curate for us under their own brand, while we enable NFT tags to ensure consumers have digital ownership,” he said. The idea behind NFTs for physical designs will also allow creators under Faith Connexion to have wearables in Metaverse environments that can be used to dress avatars. Web3 will evolve within the fashion industryAlthough Web3 has massive potential to expand the fashion industry’s reach, the fact remains that very few brands and designers are incorporating these elements. While this was apparent at Paris Fashion Week this year, innovative designers like Weinsanto are hopeful that Web3 concepts will catch on. Image from Weinsanto’s opening night showcasing the  M3TALOVE collection. Source: @alekkatar #tendaysinparis“I think that the Metaverse is not yet well known by designers, but soon everyone will want to create collections in the Metaverse, as it is stimulating and exciting, but also easily accessible,” he remarked. Diz added that it’s inevitable that more and more fashion houses will follow Balmain into the Web3 space since it democratizes the industry. However, he pointed out that education remains a key challenge, which is why Balmain Thread aimed to make the process of joining its community as easy as possible. He said:“We made it clear that those joining the Balmain Thread community would never need to master any of the complex workings of crypto or blockchains in order to engage creatively with the house – all memberships were minted on the XRP Ledger, while MintNFT guaranteed security by proving authenticity via their video verification technology.”Although Balmain decided to take this route, some industry experts believe that educating designers and creators at major events like Paris Fashion Week is critical. For example, Enara Nazarova, vice president of Metaverse at Hype — an agency that helps brands get started in the Metaverse — told Cointelegraph that Hype hosted its second digital fashion soirée at Paris Fashion Week to educate attendees on Web3: “Inspired by the success of our New York Fashion Week soirée, we convened at the top of Centre Pompidou, where we welcomed the leading builders in the Web3 space to discuss what comes next for the fashion industry.” While Nazarova believes that Web3 has advanced within the crypto space, she noted that education, along with onboarding users is key for driving adoption. Although this is happening slowly, she is confident that Web3 will have a bigger presence at flagship fashion events in the future. “Web2 brands can’t ignore digital fashion’s power to connect with millions of consumers through virtual products. Yet transitioning from Web2 to Web3 is not a one-size-fits-all solution, so companies have to embrace experimentation. I think the opportunities for fashion to leverage Web3 infrastructure are just starting to emerge.”

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NFT space bridges passions for tennis legend Maria Sharapova

Tennis legend Maria Sharapova appeared at the Binance Blockchain Week Paris 2022 to share her interest in nonfungible tokens (NFTs).During an exclusive interview with Cointelegraph, Sharapova mentioned that “she is exposing herself to this new world of crypto and Web3,” noting that the sector will help her better engage with her fans. Sharapova was also one of the strategic investors behind MoonPay’s Series A financing round, yet she mentioned that she aims to bridge her personal experiences to the digital world moving forward. Maria Sharapova (right) with Cointelegraph senior reporter Rachel Wolfson (left) at Binance Blockchain Week Paris 2022. Source: Rachel WolfsonCointelegraph: What are you doing here today at Binance Blockchain Week Paris?Maria Sharapova: I’m crypto curious and would like to figure out how to bridge the incredible physical experiences that I’ve been able to have with my fans over so many years. I’m now finding ways to include experiences in the digital world, so that’s what I’m most excited about. Also, as a female entrepreneur, I believe it’s important to pave the way for other women to enter Web3. Money is a topic that I feel we don’t speak enough about as women.CT: Do you have plans to launch an NFT project?MS: I’ve been looking at this space for several months now, as I’m someone who is more in favor of opportunities for the long haul. When I saw the opportunity to bridge physical with digital experiences, I knew I wanted it to be a long-term experience for myself. Storytelling is very important and it’s a huge component of Web3. I think stories will be told better for both parties when thinking about a project long-term. Recent: The Caribbean is pioneering CBDCs with mixed results amid banking difficultiesCT: Do you think NFTs can help create better fan engagement?MS: Absolutely. NFTs are about finding ways to communicate with the right communities interested in what I’m doing within a different type of space. For example, I was seen on a television screen every week playing tennis for so many years, yet I no longer have that platform on a daily basis because I retired a couple of years ago. The Web3 experience has given me access to my fans in entirely new ways. I feel like I’m more engaged with them, as opposed to them just being engaged by watching me compete. CT: As a female entrepreneur and former athlete, do you have plans to get more women involved in Web3?MS: I want to allow women to have a space where they experiment with Web3. For example, I was 17 when I won my first grand slam and social media was in no way part of that experience. It took years for me to get comfortable with social media over time. I think Web3 is also an area where one has to get out there in order to learn and grow from it. As I mentioned earlier, the conversation about money, finance, crypto and blockchain is a taboo conversation. People may feel that unless they know about these topics, they shouldn’t speak up. But I think this should be the other way around — you learn a lot more if you ask questions and get involved. CT: Why did you decide to invest in MoonPay?MS: I want to diversify my portfolio. In the beginning, my investments were around consumer goods. For example, I invested in the sunscreen brand Supergoop early on. I am now exposing myself to an entirely new category. CT: What do you think are the biggest challenges associated with Web3 and how can we overcome these?MS: I’d love to see the quality of Web3 experiences come through a bit more and improve, specifically in the digital space. Recent: Are decentralized digital identities the future or just a niche use case?CT: Any additional comments?MS: I’m really interested in the NFT space because it bridges my passion for fashion, interior design and creating spaces that are unique to individuals and communities. I’ve become more interested in this space because it has more of a design perspective. It’s also an entirely new revenue stream that both artists and women are discovering.

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Web3 games incorporate features to drive female participation

Although there is still an apparent lack of women in the Web3 sector, blockchain-based games geared toward women may help drive inclusivity. A recent report from the Entertainment Software Association found that 48% of gamers in the United States identify as female. It has also been noted that nearly half of all gamers in the world are women. The interest that women have taken in the billion-dollar gaming sector is notable. This, combined with the massive growth being projected by the GameFi industry, is a key reason why a number of Web3 games are being built specifically for female users. Beryl Chavez Li, co-founder of Yield Guild Games — a global play-to-earn gaming community — told Cointelegraph that she believes blockchain-based games like Axie Infinity have started to see an uptick in women players. “Although statistics show that play-to-earn games appeal more to male users, we believe that more women will start to take an interest,” she said. Yat Siu, co-founder and executive chairman of Animoca Brands, further told Cointelegraph that finance and Web3 games are closely related, noting that over time, this will naturally attract all types of people to the space. Yet he believes that women, in particular, will be drawn in given their tendency for greater financial responsibility. “This is particularly evident in developing countries where microfinance and specifically microlending is led predominantly by women,” he remarked. Web3 games incorporate features to attract women A number of Web3 games are coming to fruition with the goal of appealing to a predominantly female audience. For example, Fashion League is a free, play-to-earn mobile game that allows users to develop their own fashion empire. Theresia Le Battistini, CEO and founder of Fashion League, told Cointelegraph that the game allows users to create virtual clothing lines that could eventually be sold as nonfungible tokens, or NFTs, while brands can leverage the game to display digital products: “We believe that everything will be gamified in the future, as our statistics have found that the gaming market will exceed $300 billion by 2027. Web3 games need to be inclusive.”To drive female participation, Le Battistini explained that Fashion League contains certain features that are naturally appealing to women. “The aesthetics of the game are important, along with the fact that it will first be accessible on mobile devices. Women like to play games on mobile, as there is a low barrier to entry,” she explained. Recent statistics show that 62% of people install a game on their phone within a week of owning it. Moreover, these findings note that the current mobile gaming gender split is 51% for women and 49% for men. Regarding aesthetics, a report from The Female Quotient found this to be the most important factor i attracting women to the Web3 space. Fashion League avatars. Source: Fashion LeagueChavez Li, who serves on Fashion League’s advisory board, further pointed out that many Web3 games focus on first- and third-person shooter games, yet lack creativity. She noted that Fashion League encourages individuals to create digital items, which can eventually evolve into sellable NFTs. “We are enabling the creator economy through a fun game. The more users play, the more points they can earn. In-game cash can then be exchanged for tokens that can be converted to fiat,” she said. Chavez Li also mentioned that players can compete and interact with each other during events like fashion shows, adding a layer of socialization to the game. In addition to Fashion League, Mishi McDuff, founder of digital fashion brand Blueberry, told Cointelegraph that the company launched a 3D boutique shopping experience on the gaming platform Roblox. Known as “BlueberryXWorld,” McDuff explained that the Web3 game was designed to create a fun and safe environment for gamers to explore their digital identity:“Avatars can browse Blueberry’s two-story boutique and try on clothing and accessories. The clean lines and silhouettes of the collections are juxtaposed with flints of attitude such as miniskirts, crop tops and party girl metallics, along with fun accessories such as cat backpacks. In addition, a variety of hairstyles are available for further customization.”Like Fashion League, BlueberryXWorld was created entirely by female designers and developers. While McDuff noted that the game can be enjoyed by everyone, she believes that this element ensures female creators are able to have their perspectives heard. She elaborated: “In most traditional games, you see women represented in such an unrealistic way: no cellulite, no stretch marks, no body fat. Our avatars have love handles, stretch marks, and all the other things that make us human.”McDuff also pointed out that community is an underlying principle of the game, which she believes will greatly appeal to women: “Players can stop by the cafe to grab a drink and chat with one another. Women have always had a knack for building strong, close-knit communities, so it will be no surprise to see this in Web3.”BlueberryXWorld avatars. Source: BlueberryLenny Pettersson, chief operating officer of Antler Interactive — a Sweden-based mobile game studio — and acting CEO of “My Neighbor Alice,” told Cointelegraph that some of the most important features behind the Web3 game focus on player collaboration and in-game connections. Pettersson explained that the game allows users to gather resources to shape an archipelago together. Pettersson shared that player collaboration has already become apparent in the game’s Discord channel, noting that players write messages and post screenshots to the channel indicating where to find the best places to fish, for example. Given this type of community involvement, Pettersson explained that much of the inspiration behind My Neighbor Alice has been drawn from traditional games that have been popular among a female target audience. For example, he noted that the art style plays a big part here. “A colorful and playful art style resembling a fairytale is intentional.” Imagery from My Neighbor Alice. Source: My Neighbor AliceWhile aesthetics, customization and community building are all important features for attracting women to Web3, better representation is also critical. Marcus Bläsche, CEO and co-founder of Rumble Kong League (RKL) — a game that combines basketball, play-to-earn and NFTs — told Cointelegraph that basketball and Web3, unfortunately, both share the challenge of thunderrepresentation of female users. To combat this, Bläsche explained that RKL recently partnered with Round 21, a woman-led Web3 native sports lifestyle brand with an emphasis on collaboration and community. Related: Organizations look toward multiparty computation to advance Web3According to Bläsche, this partnership has helped to launch a new NFT game collection called “The Rookies,” which creates an even split of male and female “rookies” to ensure female athletes are represented in Web3. Jasmine Maietta, founder of Round21, told Cointelegraph that the organization is specifically helping RKL create equal opportunities for anyone — no matter their gender, ethnicity or social background, adding:“We believe that the Web3 world provides a unique opportunity to create a fair and equal ecosystem from scratch. Our Rookie collection is the first step in this direction, putting male and female athletes on the same page, and we plan to continue this narrative with anything we do in the future.”Rookie Avatar. Source: Rumble Kong LeagueWill games increase women’s participation in Web3?All things considered, it’s still difficult to determine if Web3 games geared toward women will actually result in increased participation. For instance, Pettersson believes this is a tough question to answer as of now. Yet, he noted that it would be sufficient to say that high-quality Web3 games geared toward women will have an impact on bringing more women into the sector: “The first “Web2” games were specifically designed and oriented toward boys and men. Over the decades more and more games were designed for girls and women.”Related: Reinventing yourself in the Metaverse through digital identityWith this in mind, he believes that the Web3 sector is already aware that women like games and want to be involved, thus taking a heightened focus on this gender class. However, Pettersson added that it will be difficult to determine the real impact these games will have, noting:“The challenge for Web3 games is also tied to the mass adoption of crypto, which is not specifically related to a gender question, but rather to a worldwide mass adoption of crypto. And there’s still a way to go when it comes to accessibility and user-friendliness for that to happen.”Siu also commented that games are becoming less gender-dependent, while Maietta remarked that Web3 has the opportunity to base its culture on intentional inclusiveness. While notable, it’s important to recognize that the Web3 gaming space is still underway. As such, some in the industry believe that developers are currently more focused on building out the ecosystem rather than inclusivity. For example, Olga Ivanova, content and community manager at Spielworks — a blockchain gaming platform — told Cointelegraph that she believes Web3 game devs are more concerned with “creating robust in-game economies and elevating the game design to at least the AAA standard.”

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Education and aesthetics: Bringing more women into the Metaverse

Interest in the Metaverse is growing rapidly and fashion brands across the globe are taking note. A new report from the technology research and advisory firm Technavio found that the Metaverse will hit a market value of $50.37 billion by 2026. Findings from Technavio further show that the Metaverse in fashion market share is expected to increase by $6.61 billion from 2021 to 2026. Given this, a number of major brands have begun participating in Web3 initiatives. For instance, Metaverse Fashion Week hosted in Decentraland this year attracted more than 70 brands, artists and designers including Tommy Hilfiger, Estée Lauder, Philipp Plein, Selfridges and Dolce & Gabbana. Luxury jewelry brand Tiffany & Co also recently stepped into the Web3 space with the sale of 250 diamond and gemstone encrusted pendants for CryptoPunk nonfungible token (NFT) holders. Understanding what women want from a Metaverse platformWhile these initiatives are notable, new findings from The Female Quotient (The FQ) and the media company EWG Unlimited show that metaverse experiences are still largely geared toward men. The report titled “What Women Want in Web 3.0” also found that 62% of women surveyed have never heard of or are unfamiliar with NFTs, while 24% of females don’t understand the Metaverse. Findings from “What Women Want in Web 3.0” reportShelley Zalis, CEO of The FQ — an equality services and advisory firm — told Cointelegraph that while there is a tremendous interest for women to become involved in Web3, the experiences offered by brands need to cater more toward what women want. She said:“We know that 85% of purchase decisions are made by women, so if brands want to get this right they need to design experiences that are relevant for women by creating the types of experiences they want to participate in. For example, from a visualization perspective many metaverse visuals are clunky and not beautiful, so this needs to be improved.” To Zalis’ point, The FQ and EWG Unlimited report found that one in four women would revisit a Metaverse platform if it contained better aesthetics. Yet, understanding visually appealing elements for women may be challenging, as the report notes that only 16% of Web3 creators currently identify as women. “The FQ wants to set the stage by encouraging more women to be on the business side of Web3 initiatives. If women can design these spaces for women then we can ensure that females will want to spend more time in the Metaverse,” Zalis explained. Echoing this, Sam Huber, founder and chief operating officer at metaverse provider LandVault, told Cointelegraph that from the perspective of metaverse builders, change starts from within. “Female developers are best placed to know what appeals to a female audience, so diversifying developer talent is key,” he said. This appears to be the case, as women-led Metaverse platforms like DressX have witnessed increased involvement of women over time. Natalia Modenova, founder of DressX, told Cointelegraph that the digital fashion platform has been promoting creativity since day one, noting that the first designers on the platform were women. Recent: Borrowing to buy Bitcoin: Is it ever worth the risk?“Female creators are dominating the DressX platform,” she said. Modenova added that DressX has launched numerous projects created and executed by women. “One of the most notable being our ‘Feminine Future’ NFT drop created by the innovative creative director, VFX artist and virtual fashion designer Katie McIntyre and multimedia artist Nina Hawkins recently named ‘the world’s leading female VFX artists’ by Time magazine,” she said. According to Mondenova, the project provided a glimpse as to how women can collaborate and create their own aesthetics within the Metaverse.Poster from the Feminine Future NFT drop. Source: DressXFrom a brand’s perspective, a spokesperson from the luxury fashion industry told Cointelegraph that aesthetics should be the number one priority when it comes to marketing in the Metaverse. “The aesthetics should be cohesive to the brand, replicating elements such as color schemes and patterns,” she said. Even with visually appealing aesthetics, she pointed out that women’s engagement in the Metaverse remains low, noting that many luxury fashion consumers still don’t understand what Web3 means. “People need to understand this space before we can engage. We also have an older clientele at our store, which won’t easily be pulled into the digital world.”Although the “What Women Want in Web 3.0” report found there to be a 15% increase in interest from women in the Metaverse month-over-month, findings indicate that only 30% of women are truly familiar with virtual worlds. In order to combat these challenges, the report emphasizes that brands must focus on accessibility and education when it comes to attracting women consumers. “Only 14% of women have access to Metaverse platforms like Decentraland or Roblox. Education will reign supreme in order to get everyone on board,” Zalis remarked. Specifically speaking, she explained that The FQ has found social media to be one of the most helpful tools for educating women on Web3. “Women require social interaction and community building. Social media is the best way for brands to engage with consumers of all ages.” Jenny Guo, co-founder of Highstreet — a retail-focused metaverse platform — further told Cointelegraph that individuals who are well-versed in Web3 often use rhetoric that is not easily understood by the mainstream. As such, she believes that traditional consumers do not typically understand how these ecosystems work, resulting in brands hesitating to enter the space. “With more education, easier access, and a brand’s willingness to experiment within the metaverse, we will see more brands, especially boutique brands, expanding their market to the Web3 world,” she said. In the meantime, Guo pointed out that Web3 initiatives being taken by brands today may still appeal mainly to male consumers. For example, Guo noted that Tiffany’s recent collaboration with CryptoPunks is a great example of how companies are leaning into female focused-labels. Yet, she remarked that most CryptoPunk holders are male. She said:“By default, Web3 is very much dominated by men, and we do not see many female-focused brands getting into the space right now. But, similar to the tech industry, more and more women creatives will join the industry with time.”Metaverse platforms must cater to women moving forward Although findings show that metaverse experiences are largely geared toward men, the tables are bound to turn as more brands become involved in the sector. Brian Trunzo, metaverse lead at Polygon Studios – the platform catering to Web3 projects built on the Polygon protocol – told Cointelegraph that the Metaverse is becoming a new hub for expanding product and service offerings. He said: “Brands can now engage with their consumers in a more direct way that doesn’t involve travel to physical locations or staff to man operations. Consumers can simply access digital hubs for their favorite brands and partake in their unique metaverse experiences or purchase what they have to offer.”According to Trunzo, this level of engagement would never be possible in the real world or within Web2 platforms, which is why it is now becoming critical for brands to migrate to Web3. Given this, Trunzo pointed out that combining representation and inclusivity with aesthetics could be the key to drawing more women into the Metaverse. “This could also allow them to partake in this ecosystem without accessibility barriers,” he said. Recent: Beyond the headlines: The real adoption of Bitcoin salariesGiven this, Zalis believes that now is the time for women to become involved with building out Metaverse platforms. “We want to make sure women are first in Web3 before it becomes an all boys club. Women need to get in early in order to write the rules of the road, not only as creators but also as business leaders.”In order to ensure this, Zalis shared that The FQ hosts a number of in-person events along with meetings in the Metaverse to help educate women on Web3 through social interaction and community building. “We connect with women in over 100 countries,” she said. Shapovalova said that DressX will be hosting a number of events and launches, partnering with renowned traditional brands to create in-house 3D fashion collections. “We are exploring the Metaverse through all the possible (and impossible) directions,” she remarked. 

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Ashanti aims to bring women to Web3, says “owning is important” at NFT music meetup

The billion-dollar music industry is undergoing a major transition as artists begin to understand the potential of owning their work through nonfungible tokens (NFTs). Ashanti, the multi-platinum-selling singer, actress and co-founder of EQ Exchange — a women-led Web3 platform — recently shed light on this during a Cotton Candy Records meetup that took place on June 20 in New York. Speaking on a panel alongside Janice Taylor, founder and CEO of EQ Exchange, Ashanti went into detail about how important ownership is for creators today. Drawing from personal experience, Ashanti said:“It is incredibly important to continue the narrative that owning is the way to go. Who wants to wake up and pour their heart, blood, sweat and tears into a project and have someone else next to you reap all the benefits while you do all the work? That was the way my contract was set up years ago, but now I have the right 20 years later to go in and re-record and own new masters of my first album.”Kayley Hamilton moderated a panel with Ashanti and CEO of EQ Exchange, Janice Taylor, at a music NFT meetup presented by Cotton Candy Records.  Photo Credit: @darnopolisWhy owning is important for creatorsAshanti told Cointelegraph that the process of creating an album prior to Web3 and the launch of music NFTs was very “disheartening,” noting that an artist would sign a record deal and create an album that would then sell for about $15. “Out of that amount, an artist would only receive about $0.38, which was on the high-end,” the R&B legend said. Once Ashanti began to realize that this was a common process, she started looking into alternative ways to own her intellectual property. On March 25, 2022, almost 20 years after her debut album was released, Ashanti formed a partnership with EQ Exchange, making her the first Black female artist to co-found a Web3 company. Following this, Ashanti released an NFT collection with EQ Exchange on April 6, 2022, which launched on the artist’s 20-year anniversary of her first album titled Ashanti. According to Taylor, Ashanti sold her first five NFTs in minutes. While impressive, Ashanti noted that the underlying message behind music NFTs is “that owning your work is so important.”In addition to ownership, Ashanti explained that her NFT collection is meant to benefit her fans in a number of ways. “Fans will receive exclusive rights to hear my music first, meaning they get to own the music as well. They will also receive percentages of royalties for new records, along with tickets to shows, vacations and access to limited merchandise drops,” she said. Women in Web3 aim to inspireAshanti further remarked that she aims for her NFT collection and role in the Web3 space to inspire greater female involvement. This is incredibly important, as the media company EWG Unlimited and The Female Quotient recently found that men continue to dominate Web3. According to the report, only 16% of creators in Web3 identify as women, which has led to inherent male bias. This in mind, Ashanti said:“I never thought in a million years I’d be in the Web3 space. But, diving into this sector as an independent artist was necessary. The Cotton Candy Records meetup is the first crypto-focused event I’ve spoken at, and I hope to do more of these to continue to inspire other female creators and women of color to become involved.”Ashanti with CEO of EQ Exchange, Janice Taylor, at a music NFT meetup presented by Cotton Candy Records. Photo Credit: @darnopolisTaylor added that education and events are critical for bringing more women into the Web3 space, noting that she was initially told to hire a crypto-native male co-founder for EQ Exchange in order to appear “legitimate.” “Some of my first investors told me this because they thought it would help me appear as if I understood the crypto industry better, even though I am a three-time tech founder.” Fortunately, Taylor ignored this comment and brought Ashanti on as EQ Exchnage’s co-founder. “I specifically wanted a woman and a woman of color to be my partner because that’s the message that needs to be heard here,” she said. Recent: Integrating blockchain-based digital IDs into daily lifeEchoing Taylor, Sarah Omolewu, founder of Access Abu Dhabi — a program designed to encourage women and minorities to enter UAE’s business ecosystem — told Cointelegraph that joining the crypto community offers an opportunity for women to build new career paths regardless of their age or financial status. She said:“Women in America weren’t able to receive credit from a bank until 1974 when the Equal Credit Act was passed. Fast forward to 2022 and less than 2% of venture funding goes to women-led businesses. Web3 could become the equalizer that changes this narrative by getting women involved at the very beginning of blockchain technology, a space where currently 93–95% of all cryptocurrency users are male.”Although women still make up the minority of Web3 users, Omolewu explained that Access Abu Dhabi recently partnered with Unstoppable Domains — a platform that grants ownership of NFT domains — to provide all nationalities of women living in Abu Dhabi free blockchain domains. “Partnering with Unstoppable Domains to provide for the first time ever a gifting of free blockchain domains to all women in the country is the first step in our longer-term goal of disrupting this space for women in the region,” she remarked. Access Abu Dhabi founder Sarah Omolewu moderates a panel session with supermodel turned businesswoman Tyra Banks and Abdulla Abdul Aziz Al Shamsi, Acting Director-General of the Abu Dhabi Investment Office. Source: Sarah OmolewuAdding context to this, Sandy Carter, senior vice president of Unstoppable Domains, told Cointelegraph that Unstoppable Domains represents a user’s digital identity, making it easy for non-crypto natives to enter Web3. “For example, users don’t have to enter a complicated wallet address to send and receive crypto transactions, as they can just use their NFT domain.” According to the Unstoppable Domains website, Coinbase Wallet, ShapeShift and other crypto wallets are supported applications. “We have over 300 partnerships. In fact, Paris Hilton recently changed her Twitter handle to ParisHilton.NFT,” Carter added. Paris Hilton’s twitter handle. Source: TwitterNow is the time for women to enter Web3Even with the benefits of music NFTs and encouragement from influencers, women may still find it challenging, or intimidating, to enter the Web3 sector. However, Carter advised that women should get started sooner rather than later, pointing out that the space is still very early. “I like to say that we are in a dial-up phase of Web3 — we are recrafting what the internet is and we need diverse voices now.” Recent: How to start a career in crypto? A beginner’s guide for 2022In terms of financial inclusion, Taylor added that EQ Exchange is helping provide a sustainable financial system that allows artists — particularly women — to thrive. Although the platform was established in March of this year, Taylor shared that other women creators are already planning to launch NFT collections. For example, Monifah, the recording artist, actress and producer, told Cointelegraph that she will be launching an NFT collection with EQ Exchange in July 2023, to mark the 25-year anniversary of her single Touch It.Monifah also mentioned that she believes music NFTs are the future of the industry, noting that artists should do their own research and get involved now. “I think it would be crazy if I did something in a traditional way at this point. I would tell artists to really focus more on Web3 and figuring out how to command this space,” she said. Yet Monifah also shared that she still finds Web3 to be challenging. “I am still navigating the Web3 space, but it’s exciting. I want to help introduce the younger generation to Web3.”

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US lawmakers say crypto industry has a 'tech bro' problem hurting innovation

According to some United States lawmakers in the House Financial Services Committee, the lack of diversity in the financial technology space could be hurting many companies’ bottom lines.In a Thursday virtual hearing on “Combatting Tech Bro Culture,” U.S. lawmakers and witnesses discussed how women and people of color were underrepresented in leadership positions in the financial technology industry, including crypto firms. Massachusetts Representative Stephen Lynch cited data that only 2% of venture capital funding went to firms in which the founders were women, while only 1% went to those with black founders, and 1.8% for Latinx. According to Lynch and some on the committee, this trend suggested an “old boys club” culture in companies including those involved with cryptocurrencies, in which many of those in leadership positions were white men. They claimed that many firms seemingly less deserving of funding were able to bring in money more easily due in part to relationships between leadership.“While lack of diversity is a trend in almost every industry that venture capitalists invest in, it is particularly troubling in the fintech space,” said Lynch. “The largest fintechs, including digital banks, payment processors, and cryptocurrency providers, actually market their products to women and people of color. Yet when we look at the founders and leadership teams, they clearly do not reflect the communities that they claim to serve.”Representative Stephen Lynch addressing the House Financial Services Committee“Multiple studies found that companies with diverse leadership, specifically with more than one gender and/or one race, are ethically representative, are more innovative and make more money,” said California Representative Maxine Waters. “I assume that venture capital firms are heavily profit driven, but it seems they’re ignoring clear data on how to boost those profits.”Related: Crypto innovators of color restricted by the rules aimed to protect themLynch cited the recent crisis around crypto lending platform Celsius — whose leadership team consists mostly of men — as an example of VC money not necessarily going to where it’s best utilized:“Venture capital firms continue to gamble on poor investments such as cryptocurrency companies like Celsius, which recently froze all customer deposits, while on the other hand women and founders of color with well thought out, substantive business plans remain in the waiting room.”

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WEF 2022: Satoshi Nakamoto could be a woman, says Meta VP Nicola Mendelsohn

The fourth day of the ongoing World Economic Forum (WEF) saw major discussion around the role of women in Web3 and how the decentralized ecosystem is the place for inclusiveness.Women are investing in crypto at half the rate of men. Join us at #WEF22 to hear about solutions we can implement to get women at the forefront of this digital revolution. @KristinaLCorner @sarahendline @Billwrightv @nicolamen @srolondon https://t.co/jBbiauzSWi pic.twitter.com/xWlhqv5p5m— The Female Quotient (@femalequotient) May 25, 2022Cointelegraph editor in chief Kristina Lucrezia Cornèr moderated a panel on ‘Why Web3 Needs Women at the Forefront” joined by the likes of Meta VP Nicola Mendelsohn, Global Blockchain Business Council CEO Sandra Ro, Harvard Business School’s Sarah Endline and Bill Wright, Head, Government Relations at Splunk.Talking about women role models in the web3 and crypto space, the panelists highlighted the contribution of key women representatives in the nascent space. Meta VP quipped that Bitcoin creator Satoshi Nakamoto who remains pseudo-anonymous to date could very well be a woman. She explained:“I will give you one- Satoshi Nakamoto, I mean we all assume it’s a man right, is that our bias? It’s just a name it could well be a woman.”Cornèr added that she believes the creator of Bitcoin (BTC) is a group of people comprising of males and females rather than an individual.The panel also discussed the challenges faced by women today and things that could be done better and improved upon. GBBC CEO Sandra Rao highlighted the growing contribution of women in the nonfungible token space and also raised concerns over the lack of it in the crypto trading space. She explained: “While NFT domain has seen a great proportion of women participants but crypto trading certainly concerns me because of the lack of women representation.”She also stressed the need to create an “environment to accommodate women representatives on the crypto trading side.”Related: WEF 2022: Trust and clarity are missing in discussions of carbon emissions and cryptoBill Wright, Government Relations head at Splunk and the only male panelist belives web3 and blockchain space is inclusive by nature. He said:“I think web3 by nature aims to be an inclusive environment, and more diverse people involved would result in better outcomes. By research, it has been proven that diverse groups focused on a problem will come up with a better solution. ”The panelists agreed that the decentralized world has seen a significant increase in women representatives over the years and hoped to see that proportion growing in the future.

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While men wanted, women did: Empowering female creators with NFTs and crypto

With the blockchain industry growing at lightspeed, businesses are actively and, even desperately, seeking out talent; and there just doesn’t seem to be enough manpower out there. Enter women — literally around 50% of the global population that has, so far, been heavily underrepresented in crypto. With most developers being men, it’s understandable this still dev-led space noticeably lacks female contributors, but as the industry surges, womanpower is needed.And, so, women have begun slowly and steadily entering the crypto space and the world of nonfungible tokens (NFTs). While only an estimated5% of women own NFTs, and5-15% are creators or founders of collections, the impact of female-led NFT projects is profound. Unlike the mass of solely artistic projects, these female-led NFTs show a preoccupation with social activism and empowerment of women across the globe — a trend charged with the potential to create a new paradigm for more socially-beneficial use cases and models for the asset class.Related: If the glass slipper doesn’t fit, smash it: Unraveling the myth of gender equality in cryptoDown with the barriers: Time, money, location and classInitial funding is a huge setback for many women who are typically weighed down by barriers like the gender pay gap. Women have less leeway in their pay, hence fewer funds to spare — a slippery slope to creating a male-driven market. They are also thought to be apprehensive about investing in their own entrepreneurial ideas. However, this risk-averse behavior is not so much a gender-specific trait, as it is a byproduct of the gender pay gap and the fact that women have larger responsibilities in the household. A recent survey indicates that following the post-COVID “Great Resignation,” women are finding it harder to return to work, with childcare and home responsibilities bearing down as the chief reason. Today, with women struggling to return to work and getting paid less overall, it’s natural that they may be less likely than men to find the time and money to invest in their own startups.NFTs bring art and other on-chain-compatible business ideas to the digital space, creating a low-cost solution for startups and letting more women get in the game. The decentralized and digital nature of blockchain also solves the crucial time/space inequality women are often subject to when other duties keep them away from the workplace more than their male counterparts. By operating beyond physical spaces, NFT startups also break through class: Imagine a painter from a small town able to sell her work in the same space — for example on Open Sea — as “pedigree artists” born and raised among big names in New York or London galleries. In all, the emerging digital marketplaces have immense potential to tear down entry barriers and really level the playing field for all underrepresented groups, in other words, for all humans.Related: International Women’s Day 2022 focuses on bringing women to Web3Anonymity is king queen Similar to how NFTs business bypasses class and space, it can also completely circumvent the need to present your gender thanks to the anonymous nature of blockchain technology. Traditionally, art created by women sells for around 50% less than that of male artists. Since NFT creators are in no way required to reveal their identities or genders, women may work in a sphere unchained from the usual prejudices, stigmas, pay gaps and further obstacles that people in traditional industries, unfortunately, still face. People are more than their gender and NFTs give us a chance to separate from it or associate ourselves with it per our own volition — a privilege women have not enjoyed very often in the past.Related: NFTs of empowered women aim to drive female engagement in cryptoSocial activism female-led in NFT artWhile the technology behind NFTs can itself present women with better economic opportunity, even discussing the feats of NFT projects is redundant unless we begin with how we can make the space actually accessible to women. For that, we must lay a foundation from the ground up beginning with basics like ensuring women and girls are in safe, healthy and free circumstances no matter where they live, all while having access to both basic and technical education to join the decentralized finance (DeFi) industry should they decide. In this sense, projects like World of Women, which supports causes like She’s the First and Too Young to Wed, Boss Beauties “providing mentorship programs and scholarships to young women and students around the world” and Girlies donating part of its revenue to the Malala Fund sponsor the right kind of activism that would empower girls to be able to engage the power of nonfungible tokens and blockchain.Women-led NFT collections are among the first to focus on social change rather than just economic value or token utility. Perhaps, this indicates primarily that women’s historical context and current societal circumstances are not what they should be and, secondly, that this experience is also pushing them to innovate, adding social value to cutting-edge technology. How’s that for girl power?Related: 10 women who used crypto to make a difference in 2021We even incorporated mental health initiativesA subsequent trip down NFT lane also uncovered mental health as a topic addressed by women-led NFT collections — the prime example being Alpha Girl Club, whose roadmap features a mental wellness team and mental health space. Web3 has the potential to create a 3D internet experience, one in which we are immersed and act through an avatar in a meta-space rather than through a browser and web pages. Alpha Girls Club has created a token tied to a safe space for women with an overall mental health initiative behind the entire NFT collection. This might prove a powerful and useful resource as we develop the paradigm for a new type of internet, especially in a male-dominated NFT industry in which there are still recent reports of harassment of female Bored Ape Yacht Club members or projects that objectify females avatars like the highly sexualized Solana Sluts series.Representation: Shaping the female image with NFTsFemale-led NFT collections also often present a drive toward diversity and representation. All the collections mentioned above, along with others like The Flower Girls, Women and Weapons and many more, are all algorithmically-generated images that show a myriad of skin tones, styles ranging from feminine to more androgynous and cultural elements, to name a few. This indicates that perhaps, finally, in the permissionless blockchain space, women will be able to actively shape the narrative of what it is to look and, more importantly, be a woman in modern society. This touch on diversity in women’s NFT projects is unsurprising, as the female narrative has historically seen extensive intersectionality with racial equality and LGBTQ+ movements.Related: How will blockchain and crypto improve the lives of LGBTQ+ people? Experts answerThank you, next: Algorithmically-generated collectionsThat said, while empowering female representation through art is greatly served by algorithmically generated collections as an easy means of mixing all sorts of traits to female images, they can also be a little reductive in that they only generate the classic approximately 10 thousand algorithm-generated NFTs. Not a problem per se, but NFTs can do so much more to empower women and society at large. You don’t need an algorithm or a collection; you just need something to tokenize and sell on open auction spaces. And, even if algorithms are still involved, there are already technologies capable of offering much more complex algorithms that go beyond simply mixing various trait combinations — it’d be intriguing to see how female creators could apply this and move past randomized images of women.All this notwithstanding, it’s easy to be put down in a still early-days industry where we’re still trading pixelized and/or algorithmically generated JPEGs. This is when it’s important to look ahead to how the majority of these and future NFT projects will expand their reach by — hopefully — creating upgradable NFTs, developing their relations to the physical world and growing into full-on metaverse utility tokens.Related: Upgradable NFTs: How collaborations will leap forwardWe need to talk about the men in the pictureFair warning: This next part is a bit of a downer, but it must be addressed. here are truly many NFT collections with female founders on OpenSea: World of Women, Women and Weapons, Women Rise, Rebel Society, Girlies, The Flower Girls — the list goes on. The amount is actually surprising in the best way, given that women are offered corporate-level positions more rarely than men. But, there is one rather disturbing trend in the majority of these collections: While the main founders and artists were women, there was often a male co-founder — most often providing the technical mastery for minting the NFTs. In most cases, these were husbands and, in one case, even a father. Now, don’t get me wrong, I truly commend these husbands, fathers and friends for supporting and empowering the women around them so they can succeed. Such “HeForShe” teamwork is precisely what is needed to slowly create the absent but desperately needed equal opportunity in all spheres. There is nothing wrong with this on an individual level, but on a macro level, the pattern implies women lack something to be self-sufficient in their NFT endeavors.Related: Is crypto a boys’ club? The future of finance is not genderedIt’s a bleak prospect to witness how behind every successful woman in the NFT space is a man who provided a “technical boost.” It is entirely likely that women lack critical exposure to blockchain technology and coding specialties which are typically more popular among men. Still, that’s pretty grim for a demographic that makes up about half the world’s population. In this sense, we need to look into getting more women into the tech sector to create a sustainable and inclusive NFT ecosystem that women can utilize without needing additional support.A part of this solution could be to expose women to more examples of ladies working successfully in tech and NFTs, in particular. And, this is already happening: Vellum LA partnered with Artsy to present a Artists Who Code exhibition which features NFT art by female and non-binary artists, thus popularizing female and non-binary role models in the space. Another important initiative to follow up on this exposure is to focus on the recruitment of women and other underrepresented groups in the NFT and tech industry, something most female-led collections like, for example, CryptoChicks have openly stated doing in their hiring philosophy. Some needed solutionsUndeniably women’s history and modern context have clearly pushed us towards implementing various forms of activism and social value into our NFT collections. Women are currently a group of creators shifting the NFT paradigm from idle art to a social tool. And, the great thing about NFTs is that for once, the technology itself is helping us thrive through its options for anonymity, decentralization and permissionless nature. However, we must still be mindful. In today’s environment, NFTs, the Metaverse and even the internet are inaccessible to women not living in developed countries, many of which face life-threatening adversity on a daily basis. In this sense, we must prioritize projects geared toward providing girls and women with basic needs and freedoms and then shift focus to education and role models in tech. Only after these basics have been secured can we truly realize women’s potential in the industry. Fortunately, we’re seeing activism grow in parallel with all sorts of other NFT applications. It is precisely this ecosystem of different female-led NFTs that can work well together to create a brighter future for women in the world.This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.Teodora Atanasova is a blockchain advocate with experience in crypto-related legal and investor relations. She graduated from the Vienna University of Economics and Business with a degree in international business law. Right out of university, Atanasova joined the Nexo team at the company’s inception, taking part in business development and investment strategies during its 2018 private token sale. She has had several roles while at Nexo and has mostly devoted her efforts toward building and generating partnerships for the company.

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