Diversity and Growth in the Web3 Sector

The Web3 community is commemorating Women's History Month by showcasing female artists in the Metaverse and organizing various events.

Web3 Community Celebrates Women’s History Month Online and Offline

Last updated: March 15, 2024 17:52 EDT | 5 min read

📷 Photo by neskue on Midjourney

March has been an exciting month for the web3 industry, with several initiatives recognizing and celebrating the achievements of women in honor of Women’s History Month. Established in 1987, this observance seeks to highlight the profound contributions women have made to society.

Diversity Driving Web3 Growth

Monica Talán, Founder and Contributor at the Spanish-language web3 platform CryptoConexión, believes that raising awareness for women in the web3 sector is not just about achieving gender balance. According to Talán, highlighting women in web3 will expand the talent pool and bring fresh perspectives and new approaches to the field.

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📢 “This will create more equitable economic opportunities, build inclusive communities, and ensure that the future of technology reflects and serves the needs of all,” said Talán.

This is indeed crucial considering that data from 2023 suggests that women hold only 26% of all jobs in the crypto industry, with a mere 6% of top leadership roles held by women. Talán shared that women make up 47% of CryptoConexión’s audience, indicating a strong interest from women in the web3 sector. By shifting the perspective from “believing women must adapt to web3” to “understanding that web3 must evolve to embrace women,” CryptoConexión has been successful in promoting diversity.

In line with this focus on representation, CryptoConexión recently spotlighted 60 Latinas who are making significant contributions to the web3 sector. Talán emphasized that the list included newcomers, aiming to inspire more Latinas to join web3 and actively shape a more inclusive and diverse digital future.

Sandy Carter, COO at web3 domain platform Unstoppable Domains, acknowledges the innovative contributions made by women in the crypto sector. Unstoppable recently hosted a space on the X platform that focused on “the power of tokenization and women” on International Women’s Day. The event featured notable guests like Dr. Anino Emuwa, who founded 100 Women Davos, and The Africa Women CEO Network, among others.

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Celebrating Women in The Metaverse

While efforts to spotlight women in web3 are ongoing, the Metaverse has emerged as a popular platform for women-focused events. Decentraland, a virtual reality world, will be hosting its second annual Art Week and MESHfair from March 26-29, where it will showcase the work of talented women artists.

📷Image of MeshFAIR 2023. Source: MeshFAIR

Kim Currier, Head of Marketing at the Decentraland Foundation, explained that MESHfair is a unique opportunity for artists to explore their creativity in a virtual environment. Sixteen out of the thirty-two international artists selected for MESHfair are women, underscoring the commitment to fostering gender diversity in the art world.

Bay Backner, artist and web3 producer who founded MESHfair, highlighted the importance of the event in connecting artists working in the 3D file format for virtual reality (VR) with galleries and collectors. Backner emphasized that while there is widespread interest in VR, works in this format are still underrepresented in traditional art fairs and influential NFT collections. Only 13.7% of living artists represented by galleries in Europe and North America are women, and none of the 100 most expensive works ever sold have been made by a woman. Unfortunately, a similar gender gap seems to be opening within the VR sector itself, possibly due to a lack of women-led Metaverse companies.

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With these challenges in mind, MESHfair aims to support the small but active community of creators in immersive web3 technology. Backner believes that it is essential for women artists to be a documented and discoverable part of this emerging medium. By showcasing their work during events like MESHfair and Women’s History Month, women artists not only highlight their contributions but also initiate significant conversations about their role in shaping the future of technology and art.

Women in Web3 Continue to be Highlighted

Even as Women’s History Month comes to an end, the web3 industry remains committed to encouraging women’s participation. Talán recognizes the hurdles that women face in the blockchain sector and suggests that simplifying web3 concepts and platforms is key to making the sector more approachable.

🔑 “The technical jargon, lack of easy-to-use platforms, and fast pace can be intimidating, especially in a field historically dominated by men,” said Talán. “Despite these challenges, significant progress is being made through ongoing efforts to onboard women into web3.”

Prominent initiatives like SheFi, Unstoppable Women of web3, HER DAO, Black Women Blockchain Council, and the Association for Women in Crypto are instrumental in demystifying the space and offering education, resources, and community support. Talán highlighted the importance of creating local and regional inclusive environments, as demonstrated by “WAGMI LATAM’s” collaboration with various communities in Latin America.

Backner, who continues to champion women in the web3 space, announced two upcoming projects: Decentraland Gaming Week (June 2024) and The Censored Art Show (Sept 2024). The former will support diverse creators in building interactive web3 games, while the latter aims to assist digital artists impacted by censorship or shadowbanning on social media platforms. Backner draws attention to the disproportionate impact of censorship on women and minority digital artists, especially when their works involve their own bodies.

Carter emphasized that Unstoppable Domains is committed to increasing women’s involvement in web3 and technology in general. They plan to expand their educational initiatives by offering more workshops, courses, and mentorship programs tailored for women. Networking events and safe spaces for discussions will continue to be a priority, ensuring that women feel supported and connected.

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Q&A

Q1: What can be done to encourage more women to join the web3 sector?

A1: One important step is to simplify web3 concepts and platforms, making them more approachable. Initiatives like SheFi, Unstoppable Women of web3, HER DAO, Black Women Blockchain Council, and the Association for Women in Crypto offer continued education, resources, and support for women interested in web3. Creating local and regional inclusive environments also plays a significant role in attracting more women to the sector.

Q2: How are women artists being represented in the web3 and VR space?

A2: Women artists have historically been underrepresented in both traditional art fairs and influential NFT collections. In the VR sector, the situation is also concerning, with a lack of women-led Metaverse companies. However, events like MESHfair in Decentraland aim to highlight the work of talented women artists and connect them with galleries and collectors, contributing to the overall representation and visibility of women in the web3 and VR space.

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🔮 Looking to the Future

With the web3 industry’s ongoing commitment to diversity and inclusivity, we can expect to see more initiatives focused on promoting women’s participation. By addressing the challenges and barriers faced by women, such as technical jargon and the lack of user-friendly platforms, the sector is taking tangible steps toward making web3 more accessible to all.

As these efforts continue, we can anticipate a more balanced and diverse web3 landscape. Embracing new perspectives and approaches from women will not only drive innovation but also create more equitable economic opportunities and inclusive communities. Women artists, creators, and entrepreneurs will play an instrumental role in defining the future of technology and its intersection with art.

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📚 Reference List:

1. Rachel Wolfson on Blocking.net
2. Spanish-language web3 platform CryptoConexión
3. 2023 data suggests women hold 26% of all jobs in the crypto industry
4. Unstoppable Domains
5. Metaverse events and Women’s History Month
6. MESHfair and women artists
7. Women-led Metaverse companies
8. Women-focused initiatives in web3

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💬 We hope you enjoyed this article! If you found it valuable, share it with your friends and colleagues on social media and spread the word about the incredible contributions women are making in the web3 sector. Let’s continue to celebrate diversity and drive innovation together.

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