While the Web3 space is often seen as male-dominated, its transformative potential can be harnessed to uplift underrepresented communities.
“When I first entered the Web3 space a year ago, I experienced significant imposter syndrome,” shares Sherawaye Hagger, Head of PR & Communications at Unilever. “The only way I could learn was through hands-on experience, so I started buying NFTs. It was a challenging process that almost broke me and brought me to tears.”
Sherawaye is not alone; many women I’ve spoken to face similar challenges while trying to break into the Web3 industry. The blockchain arena remains largely male-dominated, making it difficult for diverse voices to emerge. Acacia Leroy, Head of Trends & Insights at Culture Group, reflects on her experiences: “It feels normal to be in a male-dominated space. And that’s precisely the problem.”
This sentiment echoes my experience at Coinfest Asia, a Web3 conference I attended in Bali in late August. Amidst a sea of predominantly male attendees dressed in beachwear, I sought out a panel discussion featuring women in crypto. Unfortunately, only a handful of people showed up, and even the moderator questioned why women in crypto were not given more prominent opportunities.
The Barrier to Entry
Gender issues in the Web3 space are increasingly pressing. Since last year, Singapore’s Ministry of Home Affairs has been investigating sexual assault in virtual reality (VR), raising concerns about the safety of the metaverse for women and children. “People are still trying to understand how these digital experiences affect us psychologically; this is a new frontier,” notes Marissa Trew, Senior Content Lead at Blokhaus. “If we don’t address these issues early, they could escalate into bigger problems later.”
To ensure safer environments, it’s crucial to include more women, minorities, and gender-queer individuals in developing these technologies. Their perspectives can help identify blind spots and address potential issues before they arise.
Sherawaye’s experience underscores the challenges women face in the NFT space, particularly in Singapore. “If I were learning about NFTs in the UK, I could easily find someone in fashion to discuss them with and enjoy the experience. Here, Web3 is predominantly finance-focused, making it a more serious and less creative atmosphere.”
Web3 encompasses more than just decentralized finance (DeFi) and cryptocurrencies; it spans various industries, particularly creative ones. However, one’s geographic location often dictates their exposure to blockchain projects. For instance, at this year’s New York Fashion Week, attendees experienced augmented reality fashion shows and digital clothing, showcasing the artistic possibilities of Web3.
As Marissa explains, “What NFTs and blockchain have done for the art industry is entirely different from what is happening in the cryptocurrency space. As this distinction becomes clear, more individuals from diverse backgrounds will feel encouraged to participate.”
An Accepting Community For All
Initially, I viewed Web3 as a stale, technical, and homogenous industry. However, meeting Stacey-Ann Pearson, a Black queer female who has been in the industry for five years, shattered that impression. “Web3 is one of the most open spaces I’ve experienced,” she says. “You can bring your whole self without feeling the need to conform; the culture is rooted in counterculture.”
Stacey explains that the movement began as a rebellion against traditional systems, attracting early adopters from outside the mainstream. The demographic shift occurred when blockchain technologies gained mainstream traction and required scaling, leading to an influx of tech and finance professionals.
Despite this change, Stacey finds the digital realm of Web3 remains empowering. Online blockchain communities offer anonymity, allowing individuals to use avatars and usernames that do not reveal personal information. Some NFT groups require proof of ownership through a wallet, further preserving anonymity.
“This concept of decentralized identity, while rooted in earlier movements, has become more tangible with Web3,” Stacey elaborates.
How Blockchain Can Uplift the Marginalised
Decentralized identity offers anonymity that can support marginalized communities in unique ways. For example, in regions where LGBTQ+ rights are limited, individuals may hesitate to engage with or donate to related charities due to fear of backlash. NFTs provide a means to contribute anonymously, alleviating these concerns.
Earlier this year, the first sexual wellness space was established in Decentraland, a virtual 3D world powered by blockchain technology. This temporary pop-up featured educational videos, workshops, and art exhibitions, creating a safe environment for discussions around sexual wellness for individuals regardless of their location.
For those living in more liberal societies, such spaces might not seem revolutionary, but for women and marginalized communities in restrictive environments, the metaverse can offer essential educational opportunities.
Stacey points out that NFTs also empower individuals to fund their personal needs without relying on charities. “For example, someone experiencing gender dysphoria could raise money for gender-affirming surgery,” she explains. “Collectives can fundraise for shelters or surgeries as well.” Additionally, NFT projects can grant buyers exclusive access to services or support.
The Role of Corporations
Corporations also play a crucial role in fostering inclusivity in the metaverse. Earlier this year, Closeup, a Unilever toothpaste brand, led a project for marriage equality rights within the metaverse. The Closeup City Hall of Love was established in Decentraland, allowing couples to mint NFT marriage certificates, symbolizing their commitment despite legal restrictions.
“The premise was to affirm that love transcends societal constraints, whether in the UK, India, or Singapore,” Sherawaye explains. “In Singapore, same-sex couples cannot legally marry, and in India, interfaith or intercaste marriages face societal disapproval. NFTs provide a means to recognize these unions.”
Although these projects are promising, they remain limited, primarily due to the diversity issue within the Web3 workforce. Acacia emphasizes, “Web3 is heralded as the future of the internet, and that future will only be as good as the people shaping it.”
Beyond race, gender, and sexuality, we must also address income disparity and geographical location. Not everyone has access to blockchain technology or can afford to engage with it—especially given the volatility of the market. However, as regulations and technologies evolve, making the space more accessible, we face a critical moment.
We are in the process of creating a new world wide web, which is exciting. Yet, if we do not carefully consider its inception, we may find ourselves unprepared for its future evolution.
