The team behind the World of Women (WoW) non-fungible tokens (NFTs) project has partnered with Tezos to promote gender parity in the Web3 space, aiming to create more opportunities for women. With Tezos’ support, WoW hopes to expand its reach and empower more women by connecting and supporting them. Women are underrepresented in the Web3 sector, with male-led ventures receiving four times more investment than those led by women. Despite women making up 37% of cryptocurrency holders, they only represent 27% of the Web3 workforce and 13% of startup founding teams, highlighting the ongoing challenges they face in securing funding, recognition, and support.
In January, the crypto exchange Bitget launched a new initiative called “Blockchain4Her” to support female-led businesses in the blockchain industry. The initiative includes an incubation program tailored for female entrepreneurs and a $10 million fund to support female-led startups. Bitget also released a report on blockchain funding trends, revealing gender disparities in the present venture capital ecosystem. The report shows that blockchain startups received $27.85 billion between January 2022 and Q3 2023, with funding decreasing by 61.6% in 2022. Female-led Web3 firms only attracted $1.77 billion during this period, reflecting the prevailing bias in the market that limits opportunities for women and hinders wider adoption of crypto in female-related fields.
The collaboration between WoW and Tezos aims to unite the collective power of women across the Web3 sector and provide opportunities for them to make an impact in art, tech, and culture. Shannon Snow, COO of World of Women, emphasized the immense contributions and potential of women in Web3 despite historical underrepresentation and underservice. The partnership with Tezos, with its advanced technology, industry expertise, and extensive network, is expected to bolster WoW’s impact and support a new era of growth for women in the industry. The goal is to address the gender disparities present in the Web3 sector and create more inclusive opportunities for women to thrive and succeed.
Diversity in the crypto industry is crucial as it brings a variety of perspectives, talents, and experiences to the table, fostering innovation, resilience, and broader adoption. By supporting initiatives like WoW and Blockchain4Her, the industry can work towards creating a more inclusive and equitable environment for women in Web3. The lack of representation and support for women in the sector not only hinders their individual success but also limits the overall growth and development of the industry. By addressing gender disparities and providing more opportunities for women in Web3, the industry can unlock the full potential of a diverse and inclusive ecosystem that benefits everyone involved.
Overall, the collaboration between WoW and Tezos, along with initiatives like Blockchain4Her, is a step towards promoting gender parity and supporting female entrepreneurs in the blockchain industry. By providing resources, funding, and opportunities tailored for women in Web3, these initiatives aim to bridge the gap in representation and empower women to make significant contributions to the sector. The ultimate goal is to create a more diverse and inclusive Web3 ecosystem that leverages the talents and perspectives of women to drive innovation, growth, and success in the industry.
