Like so many sectors, the worlds of blockchain, crypto, and Non-Fungible Tokens (NFTs) are significantly dominated by men. Ironically, cryptocurrency was designed to create a level playing field overcoming many of the biases found in the more closed-off areas of traditional investment. Yet, the disparities in gender for crypto are, disappointingly, similar to those found in fields such as finance and technology.
Last year, a study by CNBC found a considerable lack of diversity in the sector, with 67% of cryptocurrency investors being men. However, this is a notable improvement – a survey conducted in 2019 calculated women accounted for around 8% of all crypto users.
What about NFTs?
Predictably, the situation is mirrored when it comes to NFTs. The world of finance and technology are primarily male, and so is the art world. For example, an analysis of 18 major art museums in the US found 87% of the art collections were by male artists. As NFTs attract those interested in tech, finance, and art, it is no surprise to find this gender disparity.
A recent study conducted by research agency Art Tactic examined the sale of NFTs between January 2020 and September 2021. The study found that at least 77% of NFT art sales went to male artists, with only around 5% going to female artists. Even accounting for the 16% of artists of unknown gender, there is still a vast gap.
With so many male investors and artists, there is increased pressure for the market to be geared toward men. An example of this is CryptoPunks, an NFT collection often credited with starting the craze for NFTs. Of the 10,000 unique CryptoPunks, only 3,840 are female. Furthermore, all of the top ten CryptoPunks sold so far – each for over US$2 million – appear to be men, increasing the pressure on artists and sellers to focus on male avatars.
The good news is that the situation is starting to change. A number of female-only collectives and communities are forming in the blockchain space and are rapidly growing in popularity.
Continue reading:
https://www.benzinga.com/markets/cryptocurrency/22/02/25869568/are-women-finally-breaking-into-the-male-dominated-crypto-scene
Last year, a study by CNBC found a considerable lack of diversity in the sector, with 67% of cryptocurrency investors being men. However, this is a notable improvement – a survey conducted in 2019 calculated women accounted for around 8% of all crypto users.
What about NFTs?
Predictably, the situation is mirrored when it comes to NFTs. The world of finance and technology are primarily male, and so is the art world. For example, an analysis of 18 major art museums in the US found 87% of the art collections were by male artists. As NFTs attract those interested in tech, finance, and art, it is no surprise to find this gender disparity.
A recent study conducted by research agency Art Tactic examined the sale of NFTs between January 2020 and September 2021. The study found that at least 77% of NFT art sales went to male artists, with only around 5% going to female artists. Even accounting for the 16% of artists of unknown gender, there is still a vast gap.
With so many male investors and artists, there is increased pressure for the market to be geared toward men. An example of this is CryptoPunks, an NFT collection often credited with starting the craze for NFTs. Of the 10,000 unique CryptoPunks, only 3,840 are female. Furthermore, all of the top ten CryptoPunks sold so far – each for over US$2 million – appear to be men, increasing the pressure on artists and sellers to focus on male avatars.
The good news is that the situation is starting to change. A number of female-only collectives and communities are forming in the blockchain space and are rapidly growing in popularity.
Continue reading:
https://www.benzinga.com/markets/cryptocurrency/22/02/25869568/are-women-finally-breaking-into-the-male-dominated-crypto-scene
