Web3.0, a.k.a the decentralized web or the semantic web, refers to the next generation of the internet that is expected to be more intelligent, interconnected, and decentralized
The decentralized web and non-fungible tokens (NFTs) have created significant noise in the market and thus grown in the digital world, offering innovative solutions to various industries, including finance, healthcare, education, and entertainment. According to statistics, the Web 3.0 blockchain technology sector is estimated to be worth more than six trillion dollars in 2023, growing at a CAGR of 44.6% from 2023 to 2030.
In the past, women have been underrepresented in the tech industry, and this trend has continued in the blockchain and web 3.0 space as well. However, there is a growing recognition of the importance of diversity and inclusion in the industry, and efforts are being made to encourage more women to participate in web 3.0. An important question that comes to mind is the relevance of Web3 and NFTs in today’s world and the role of women in making it big.
Web3 and NFTs are transforming how we think about digital assets, offering a decentralized infrastructure that allows for transparency, secure storage, and seamless transactions. NFTs have been a game-changer for the art world, providing artists with a new revenue stream and greater control over their creations.
An Inclusive Approach to Web3
The Web3 industry has been male-dominated, with women significantly underrepresented in leadership roles. According to a report, only 13% of Web3 founding teams include women, and only 7% of founders are women. Also, women represent only 27% of the top Web3 startups’ workforce and only 12% in technical roles.
Despite the gender gap, women working in blockchain are pushing for a bigger and brighter change in this space. With the increasing importance of this technology in our daily lives, women are trailblazing their way across the industry, bringing in unique perspectives, ideas, and experiences that can lead to more innovative solutions and better outcomes.
With diverse perspectives, linguistic backgrounds, and cultures, women catalyze innovative solutions and an inclusive approach to Web3. Moreover, women-led startups are expected to continue growing in India, with more support being provided to female entrepreneurs and initiatives being launched to promote gender diversity in the startup ecosystem and foster an inclusive work environment.
Celebrating the Women Leaders in Web3
Many significant Indian women entrepreneurs in the Web3 and NFTs space have made substantial contributions, and their work inspires other women entrepreneurs looking to make their mark in this rapidly growing industry. Radhika Iyengar, Anupama Bhardwaj, Asha Susan, Shruti Appiah, Sandhya Sharma, Deepthi MN to name a few.
Shruti Appiah is one of the key names in the industry to be recognized as one of the top 50 women in tech in India. She has been a speaker at several international conferences on blockchain and cryptocurrency. Forbes recognized Sandhya Sharma as one of the top 20 women entrepreneurs in India. Deepthi MN has been recognized as one of the leading women in blockchain and cryptocurrency by several international publications.
According to a McKinsey report, women spend more time using and innovating this technology than men and are likelier to spearhead and implement metaverse initiatives. 60% of women have implemented more than two metaverse-related initiatives in their organizations. These female executives are 20% more likely than their male counterparts to implement multiple metaverse initiatives, especially around marketing, employee learning, and development.
Moreover, the Web3 and NFTs industry is poised to become a significant driver of economic growth, creating new job opportunities and increasing revenue streams for businesses. Women entrepreneurs have a crucial role in this space. By encouraging and supporting women’s participation in Web3 and NFTs, we can unlock new opportunities for economic growth and foster a more diverse and inclusive industry.
How are Women Entrepreneurs Adapting to the New-Age Technology?
Women entrepreneurs have quickly adapted to the new-age technology behind Web3 and NFTs, seizing the opportunities presented by this industry to build innovative solutions and create new business models. Many women-led startups use blockchain technology to solve real-world problems like supply chain management, identity verification, and financial inclusion. Women are also making their mark in the art world, creating art NFTs and using this technology to showcase their work to a global audience.
The Future of Web3
As this space continues to grow and mature, it is essential to encourage and support women’s participation and be truly inclusive, which fosters an equitable and conducive work environment.
One way to encourage more women to participate in web 3.0 is through education and training. There are many resources available for women to learn about blockchain technology and how it can be used to build DApps. Women-focused blockchain communities are also emerging, which provide a supportive environment for women to learn and collaborate with other women in the industry.
Another way to encourage more women to participate in web 3.0 is through mentorship and networking. Women mentors can provide guidance and support to other women who are interested in entering the industry. Women-focused blockchain events and conferences can also provide opportunities for networking and connect with other women in the industry.
In 2023 and beyond, we can expect continued growth in this space, with more businesses and individuals adopting this technology, with women carving out a niche for themselves and driving the development of this sector.
Original post: https://www.msn.com/en-in/news/other/how-are-women-leaders-shaping-the-future-of-web30-and-nfts-in-2023/ar-AA18cIUk