• New research has shown that women’s participation in the rapidly evolving web3 sector is quite limited.
• All-male founding teams raise four times as much money during funding rounds compared to female counterparts.
• Industry players are advised to make adequate efforts to put more women on investment teams, design gender-inclusive brand experiences, and build a supportive ecosystem for female founders and investors in web3.
Gender Diversity Needed in Web3
A new study published by People of Crypto Lab (POC Lab) and BCG X indicates that there is a lack of gender diversity in the web3 industry. Data shows that only 13% of founding teams include at least one woman, seven percent of project founders are women, and only 3% of project teams are exclusively women. Furthermore, all-male founding teams raise four times as much money during funding rounds compared to female counterparts.
The ramifications of this lack of gender diversity could be far-reaching, as web3 companies will shape how people represent themselves online, transact business, and interact with each other. In addition, BCG research has found that companies with diverse leadership teams are better at innovation and more profitable; thus missing out on this opportunity due to a lack of diversity may prove costly.
Promoting Gender Diversity
In order to address the issue of gender discrimination in web3 initiatives, researchers have suggested several approaches such as paying attention to unconscious bias when making funding decisions, promoting an inclusive environment for different genders within organizations, designing gender-inclusive brand experiences, along with building a supportive ecosystem for female founders and investors within the space.
Overall it is clear that there is still much work left to do in terms of achieving greater levels of gender diversity within the web3 sector. It is therefore incumbent upon industry players across all sectors involved with these technologies to take active steps towards promoting more equitable representation for both genders going forward.
“Web3 Already Has a Gender Diversity Problem,” People Of Crypto Lab & BCG X – https://peopleofcrypto.com/web3-gender-diversity/