The World of Women (WoW) non-fungible tokens (NFTs) project has partnered with Tezos to advance gender parity in the Web3 space by creating more opportunities for women. With the support of Tezos, WoW aims to empower and connect women globally. Women are underrepresented in the Web3 sector, with male-led ventures receiving four times more investment. This funding disparity highlights the ongoing challenges women face in securing support in the industry. Despite constituting 37% of cryptocurrency holders, women only make up 27% of the Web3 workforce and 13% of startup founding teams, according to data from the Boston Consulting Group. WoW seeks to unite women across Web3 and beyond to amplify their impact in art, technology, and culture.
In addition to the WoW project, other initiatives supporting women in Web3 are emerging. Bitget, a crypto exchange, launched the “Blockchain4Her” group in January to support female-led businesses. Blockchain4Her offers incubation programs and a $10 million fund for female entrepreneurs in the blockchain industry. Bitget also released a report on blockchain funding trends, highlighting gender disparities in the VC ecosystem. Despite blockchain startups receiving $27.85 billion between January 2022 and Q3 2023, funding saw a 70% decrease per quarter during that period. Female-led Web3 firms only attracted $1.77 billion, indicating a prevalent bias in the market that hinders opportunities for women and limits the wider adoption of crypto in female-related fields in traditional finance.
The gender disparities in the VC ecosystem underscore the importance of promoting diversity in the Web3 space. Women face challenges in securing funding, recognition, and support, hindering their contributions to the industry. Diversity in crypto brings a variety of perspectives, talents, and experiences to the table, fostering innovation, resilience, and broader adoption. By supporting female entrepreneurs and initiatives like WoW and Blockchain4Her, the industry can address the gender gap and empower women to make significant contributions to the Web3 space. Tezos’ involvement in the WoW project demonstrates a commitment to advancing gender parity and creating more opportunities for women across the Web3 sector. Through collaboration and support, the industry can work towards a more inclusive and diverse ecosystem that benefits from the talents and potential of women in Web3.
