Female-focused Crypto Initiatives: ‘DeFi’nitive Steps Forward
Blockchain, DeFi, Crypto, web 3 are the novel terms ‘DeFi’ning how we view and own money today. As the financial industry witnesses a total transformation thanks to these new technologies, the question of how women fit in this expanding space looms in the air.
Until 2018, the tech landscape was primarily dominated by men, with only 8.5% of the 378 venture-backed cryptocurrency startups launched from 2012-2018 being founded or co-founded by women. However, with the hype surrounding digital assets encouraging widespread adoption in recent years, women also began taking a stake in the blockchain world. The need to control their financial future acted as a vehicle for women to explore the notion of decentralized currencies in elevating the game for financial inclusion. The results speak for themselves – 92% of American women surveyed by BlockFi revealed that they have heard of crypto. 24% of those women report owning crypto, of which 70% are ‘HODLers’ and 75% have only traded. Moreover, 93% of college-educated women surveyed across the US and the UK believe that technology will undoubtedly impact finance in the next 10 years.
But this only marks the starting point for the path forward – as the economic participation and opportunity gap between men and women puts a gaping wound in closing economic disparities. 31% of the college-educated women in the US and the UK likewise believe that they do not get equal access to the financial system in their own countries. Several initiatives in the cryptosphere are taking definitive steps forward to bridge the space between financial literacy and financial freedom. We take a look at some of these women-focused game-changers through our post as we #breakthebias surrounding women in the finance space.
As young women recognize cryptocurrencies to be a tool for economic empowerment, many tread down a community-based path to learn and earn money. Alinea Invest, a socially responsible investing platform, prioritizes the participation of inclusive and diverse communities in crypto investments. The platform uses bite-sized insights, investing ‘playlists,’ and personalized suggestions to explain how different companies make money, treat their stakeholders, and their environmental impact so that customers can turn investing into a form of self-expression.
Women’s Coin is another women-based solution driving undiluted financial support for building better lives. The digital currency became a reality in 2017 as a coin for women to support education and help set up small businesses to create self-reliant and sustainable futures.
We’re as crypto curious as you, and during our research, we observed the scarcity pertaining to women-focused crypto initiatives. We would love to hear of initiatives from the crypto space that are fostering the gender inclusion criteria forward. Comment below or drop us a note at firstname.lastname@example.org!
Putting The F In NFTs
Many women artists and creators saw the opportunity for attracting niche audiences to promote a more diverse and inclusive crypto, blockchain, and NFT ecosystem. Devoted artists and communities supported causes and elevated the art industry through various NFT projects that are taking the internet by a storm. The World of Women (WoW) is one such community that supports emerging artists and non-profits across the globe. The NFT collection of 10,000 artworks of diverse and influential female avatars aims to positively impact the building of equal opportunities for anyone to become an NFT owner or creator. WomenRise NFT follows a similar trajectory, with 10,000 unique pieces of artwork that act as a movement for women’s rights and girls’ education by celebrating and recognizing women activists, scientists, artists, and coders.
Several other names join the list – such as the Boss Beauties’ 10,000 NFT collection to empower the next generation of women, Rebel Society’s 7,000 female characters who rebelled against society’s rules and demands, and the Women and Weapons’ 10,000 diverse, beautiful, and badass women NFT. The now sold-out Alpha Girls Club’s 10,000 hand-illustrated alphas and the Renaissance Women NFT collection are two other initiatives that gained attention for equally supporting women’s mental health.
DAOs Driving Diversity
As of recent, Decentralized Autonomous Organizations (DAOs) are acting as resourceful means for bringing together a group of investors and innovators to coordinate and self-govern as a unit on a secure blockchain network. Plenty of female founders and entrepreneurs are making the best use of this technology to give underrepresented women in blockchain a voice.
AllStarsWomen NFT Club and DAO, an NFT membership-based club, brings together 10,000 female entrepreneurs and founders from all walks of life to help close the funding gap for women and shape a more inclusive entrepreneurial ecosystem. RiseDAO is another not-for-profit DAO focused on women from developing economies by providing grants that cover gas and minting fees to sell art on NFT marketplaces. They also offer training programs in coding/programming skills and financial aid for hardware and software acquisition. Singapore’s ZebPay and Decentralized Komorebi Collective, comprising core team members from she256 and Women in Blockchain, also account for notable DAOs driving the visibility of vast audiences a reality.
Times are changing for the better. The recent $1.5B fundraise focused on web 3 startups by Haun Ventures’, which has shattered the record for a debut fund by a female VC, is a prime example of the many triumphs women are achieving in the progressing web 3 industry. Having women as a target audience propels the inclusivity agenda forward and helps tailor better products and services resulting from diverse perspectives. Including women in the emerging and expanding theme of cryptocurrencies through meaningful discussions, active encouragement for participation, and providing access to resources for financial knowledge will serve as the catalysts for accelerating the goal of financial inclusion for the holistic welfare of society. After all, the future of money is crypto, and the future of crypto should be equal for everyone.