Men in suits with banker’s bags. Jargon for jargon. Ninety-eight percent of funding for people with a Y chromosome. When it comes to mainstream finance, women have not only been left out of the conversation, but completely dismissed and left out. And Silicon Valley has been, historically and notoriously, a world of tech brothers — a shame since the industry has been among the most lucrative and fastest growing for decades, dating back to the dotcom boom of the 1990s. ultimate result: major obstacles for women when it comes to amassing wealth and reaching leadership positions.
We hate history repeating itself but, sadly, we have deja vu. Cryptocurrency, non-fungible tokens (NFT), and the Metaverse are all the rage. And all of them are part of Web3, which is, in short, the next iteration of the Internet. In the same way that social media and e-commerce have changed the way we live, work and shop, Web3 will affect everything from your investment portfolio to your future job prospects to security in line, etc McKinsey predicts that by 2030, the market value of the metaverse could skyrocket to $5 trillion. Still, around 43% of men aged 18-29 have invested, traded or used cryptocurrency, compared to 19% of their female counterparts, according to Research bench. Out of 121 of the world’s leading crypto companies, only five included a female founder (opens in a new tab). Even female NFT artists are outnumbered in the space; research shows that 77% of NFT sales go to male designersand women represent less than 20% of the market.
Yes, the industry is changing at a rapid and, it seems, intentionally confusing pace. But instead of sitting on this defining shift in technology, finance, and art, we’re here to help women learn the basics and understand the risks and rewards. Even if you never buy bitcoin, knowing what it is (and the world around it) has benefits for investors, businesswomen, creators, and frankly anyone with a bitcoin. Bank account.
For many companies, moving to Web3 aligns with the golden rule of marketing to “meet your customers where they are”. Savvy millennials and even more savvy Gen-Zers are open to it, so much so, in fact, that Facebook underwent a highly publicized rebranding last year. Now called Meta, the tech company has invested $10 billion in its metaverse division, betting on the rise of crypto-optimism.
But early Web3 builders worked on crypto, NFTs, and the metaverse long before Mark Zuckerberg joined the party. Until recently, most experts expected augmented reality (AR), virtual reality (VR), and virtual worlds to be commonplace before mainstream consumers got excited about the idea of the web. spatial. But after two years of adapting to Zoom calls, the idea of living in parallel virtual reality doesn’t seem so far-fetched.
Given this cultural shift, software developers and engineers are creating technological infrastructures to enable true digital ownership. If they are successful, “purchasing” a digital item will actually mean owning it like we do physical items, like clothes, houses, and cars. And that equates to a business opportunity.
Everything is very innovative. But when you’re an entrepreneur or an employee tasked with making strategic decisions about allocating your company’s budget, it’s also stressful. “There’s so much innovation happening all the time,” said Alexa Lombardo, founder and chief strategy officer at Atomic No. 8, a creative studio for Web3 storytelling. “A lot of companies don’t even know how to look inside and ask themselves, ‘But what is we do and why?’ because they’re so focused on what the guy next door is doing.
No other designer has dipped fearlessly into the metaverse quite like Rebecca Minkoff. The founder of her eponymous label and serial investor in women-owned brands often collaborates with NFT marketplace Mavion to drop digital fashion and accessories lines. Here, she offers a meta-career mentoring session.
- A Web3 strategy is going to require repetitive and consistent communication and messaging – you won’t win people over with the first email or the first tweet.
- Strategic partnership is essential. We deliberately partnered with companies that already had Web3 audiences. That’s why we partnered with Mavion, because we know we’re talking to a brand new customer and they’re the ones who have already got it and are thrilled with it.
- See it as a chance to expand your existing customer base. Our brand reached the eyeballs of an entirely new, mainly European audience, from our first two launches.
Is it the wrong time to invest in crypto?
“Women see cryptocurrency and Web3 as this new mechanism. They think, Oh, I can be part of this change. Like, forget the actions, just let me focus on Web3says Kat Garcia, co-founder of Cheres, a investment app. But we are (as of press date) in a bear market. And just because something is trendy doesn’t mean it’s smart. “It is important to know both [traditional stocks and cyber opportunities] because we are still in this transitory space. You need both economies to be able to thrive. The cryptocurrency market has fell from a peak from nearly $3 trillion in November 2021, to less than $1 trillion several times this year. Bitcoin, basically the Kleenex or Coke of crypto, lost more than 70% of its value (opens in a new tab) in 10 months.
Still, a bad market doesn’t necessarily mean a bad time to invest, and that includes the traditional stock market. Some compare it to a sale at your favorite store. A wealth management advisor explained it this way: “If LIVELY had a 20% discount on all items in their store right now, you’d be curious. Investing during a bear market is an opportunity to invest when stocks are on ‘sale’, especially if you believe in these companies or that the technologies will recover in the long run.” Others say it may also be a chance to get in on the ground floor. “I’m thinking of the when Amazon shares were at $6. Like, I don’t buy that weird book company that sells books online, but man, I wish I did! Is not it ? says Michelle Cordeiro Grant, founder of Lively and Web3 enthusiast. “It’s like our chance not to look back and say, ‘Whoa, we missed it.’ This is our chance to say, “Let’s get it and get on the roller coaster so that when it starts to coast, we have the tools and the information to know what to do next.”
Anyway, don’t even think about investing (whether in NFTs or ETFs) unless your basic finances are in order. No emergency funds and not maxing out your 401K? Forget putting your money in the Metaverse.
So you want to work in Web3
These careers will be in demand due to the next evolution of the web.
Developers and designers. Companies planning to launch metaverse activations will either need an in-house development team or talented freelance digital designers to code the virtual spaces and wearable avatars.
Marketing professionals. No matter how technology-driven, a Web3 initiative cannot exist in a silo; it must be integrated into an overall marketing strategy.
Community managers. Think of this “customer service” role as less about handling complaints and more about moderating a 24/7 conversation between users and stakeholders. Businesses will need professionals to lead NFT drops, manage community benefits, monitor polls, and keep the pulse of the “vibe.” Improve those Discord skills – this platform is by far the most common among NFT projects and crypto startups.
Social media strategists. Instead of posting superficial Facebook ads and Instagram carousels to gain likes, Web3 companies are obsessed with finding a smaller, but more loyal group of followers.
Jural advisor. Yes, companies will have to defend themselves through lawyers to protect themselves from very real regulatory repercussions. The SEC is cracking down on NFT projects and companies that launch crypto tokens without disclosing that they could be considered, as many claim, unregistered securities. NFTs themselves raise multiple questions about works of art and intellectual property law. And since the legal concept of “ownership” extends to video game elements, we need the brightest legal minds to help us figure out exactly how that’s going to work.