The gender gap that needs to be addressed

Nonfungible tokens (NFTs) have received a lot of media attention, but experts agree that their impact will go beyond selling digital artwork or tweets and change the way people communicate ideas forever.

Despite its promise to break the mold, the global NFT market is just as pale, masculine and old-fashioned as the conventional art industry. The most recent statistics indicate that only 16% of NFT makers are women – an astonishing gender inequality that reflects the under-representation of women in the current NFT ecosystem.

According to a survey conducted by Art Tactic and published by Bloomberg, female performers accounted for only 5% of NFT market revenue. By comparison, creations by male artists accounted for 77% of sales (16% were unknown artists and 2% were collectively created).

However, specific NFT projects are trying to solve this problem. Rare is one of them. Rarible has prioritized supporting women-led NFT projects. Coin-Crypto spoke with industry experts Masha Vyazemskaya, head of communications at Rarible, and Rebekah Keida, Chief Marketing Officer at XBTO, about the gender inequality in the NFT space.

According to Vyazemskaya, the technology sector has always been a male-dominated sector, which she says “invokes a sense of intimidation for many women who want to enter the NFT space”. She adds:

“As the industry matures, it is important that we champion our female artists and innovators, promote and encourage their work, and give them more opportunities to shape the future of the industry.”

She describes the challenges female creators face when they first enter the NFT sector as being grounded in “the broader technology industry.” According to her, “historically, the traditional technology industry has always fueled male ambition and success, creating a misguided expectation that technology is primarily for men.”

Awareness raising is a crucial first step to encourage more women to get involved in the NFT industry, according to Vyazemskaya. As she puts it, by championing successful women creators and women-led initiatives, we are setting a precedent for future generations of innovators that the NFT industry is a “women’s community.”

According to XBTO’s Rebekah Keida, two key measures to increase the number of women involved in the NFT and Web3 spaces are “enrolling more people in cryptocurrency education and fostering a greater sense of inclusion.”

“Honestly, this industry is still so young and snowballing, so no one is really an ‘expert’. We are all learning together. The more we can promote this concept of inclusivity, the more welcoming the space will become for new crypto users and women who want to join in.” to do.”

What would they advise any lady considering a career in the NFT sector? Vyazemskaya suggested that it is a good idea to get started with other creators and collectors as soon as possible.

Related: The Sandbox partners with World of Women to drive education and mentorship for women

The NFT community, she says, is one of the “most supportive” and much of the really valuable communication and interaction takes place on social media and internet marketplaces like Rarible.

On the other hand, Keida advised that while it may seem easy to get started, you just have to get started. She adds, “Do your research.” She finds one-on-one conversations, via Twitter or Discord, very valuable. The typical media coverage of NFT investment stories is optimistic – either a spectacular success or a catastrophic failure.

“When you reach out and start building individual connections, you realize there is so much more insight to be gained.”

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