Elena Sinelnikova, co-founder of Metis and CryptoChicks, shares her insights on the current state of women in Web3. The article highlights how women are underrepresented in leadership roles within the crypto industry, despite their significant contributions to the field.
Women lead top crypto exchanges. They also earn 15% more than men, according to Pantera Capital. We have come a long way indeed. Yet, Web3 is nowhere near harnessing the feminine community’s potential and embracing its leadership—at both economic and cultural/psychological levels.
Only about 13% of Web3 projects have female founders, and they receive merely 6% of the industry’s total funding. Web3 events—conferences, hackathons, afterparties—are primarily male-dominated. And then there are predators lurking around.
Web3 promises inclusion and fairness for all—onboarding more women and creating safer places would be necessary. Women comprise approximately 50% of the global population, have over $31 trillion in spending power, and control 85% of consumer spending in the United States. Dismissing and, at worst, disempowering their leadership just doesn’t make sense for Web3.
Empowering the marginalized benefits everyone. It promotes diversity, innovation, and equitable opportunities. This is why organizations like Metis and CryptoChicks are taking proactive steps to support women in Web3.
The Lack of Representation
The underrepresentation of women in Web3 leadership roles is a multifaceted issue. Various factors contribute to this disparity, including societal norms, systemic barriers, and a lack of visibility among female professionals.
Despite their significant contributions to the field, many women feel excluded or unwelcome in certain circles. This creates a challenging environment for career advancement and collaboration.
The Need for Change
To address these issues, initiatives like Metis and CryptoChicks are making waves in the industry. These organizations are paving the way for women to take on leadership roles in Web3. For example, Elena Sinelnikova was named one of 12 shortlisted honorees of Canada’s Top Women in Fintech and Blockchain by IT World Canada in 2021. In 2022, she was announced as one of the Top 20 Most Influential Women in Blockchain by Hardbacon.
The Impact of Web3 on Society
Web3 has the potential to transform society for the better. By empowering women, we can create a more inclusive and equitable digital space. This is especially important given the growing influence of blockchain technology on global markets.
Conclusion
In conclusion, while women have made significant strides in the crypto industry, there is still much work to be done. Empowering women through education, mentorship, and leadership opportunities is crucial for driving innovation and ensuring the sector’s growth. By embracing their potential, we can build a more inclusive Web3 future where everyone has an equal chance to succeed.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
