Published
1 year ago on
August 23, 2022
Throughout the ages, traditional art spaces have often lacked diversity, with US museum collections comprising 85% white and 87% male artists. With the emergence of NFTs, though, a more diverse range of artists are able to gain exposure without having to face the exclusion faced from traditional outlets.
Just like Web2.0, Web3.0 has fallen behind when it comes to gender diversity. According to the latest report from cryptocurrency marketplace Gemini, women make up just 26% of Web3 investors.
But perhaps the most impactful potential for NFTs is the opportunity to create more access to wealth for marginalized groups, with those who haven’t usually had the opportunities to invest or sell their art in traditional spaces, no longer facing barriers to sell their work.
Not only can NFTs directly impact wealth distribution for creators and investors, but many projects also contribute part of their proceeds to organizations that represent their background and values. With such a lucrative market, this philanthropic component helps further distribute wealth.
According to a survey conducted for CNBC and Acorns in 2021, women have relatively invested less compared to men when it comes to both digital and traditional investments, finding that men invest twice as much as women. Specifically, the report found that 16% of men vs only 7% of women invest in crypto; and similarly 14% of men vs 7% of women invest in exchange-traded funds; while 40% of men vs 24% of women invested in individual stocks; 30% of men vs 20% of women in mutual funds; and 36% of men vs 30% of women in real estate.
As Web3.0 as a whole continues to grow, it’s important to ensure diversity and inclusion are at the forefront. By focusing on representing every type of person no matter their identity or background, Web3 can be shaped into a non-judgemental space where everyone can form connections in a meaningful way.
Web3.0 has the opportunity to re-write the status quo of what diversity and inclusion mean in tech and help people find a community that they truly resonate with. One example of this was the Unstoppable Women of Web3, a group working to build an equal, democratize, and decentralized future. The education group is dedicated to training the next generation of diverse talent, with a goal to onboard women to Web3.
Another group bridging the gap between underrepresented groups is World of Women, which hopes to build an inclusive Web3 through its collection and community.
Some of the examples that are already making headways in the digital space include Maliha Abidi, a Pakistan-born artist who launched her first Non-Fungible Token (NFT) collection in 2022, and an NFT collection of 10,000 portraits from Boss Beauties which was unleashed at the New York Stock Exchange in October 2021.
Supercute World™ is also passionate about creating a more inclusive NFT market, which is why it has created the first truly inclusive project on the blockchain. SELFi3S by Supercute World will begin as a collection of 7,777 “SELFi3S”. Each SELFi3 offers three versions: female, male, and gender-neutral. This unique feature allows each holder to decide which version they wish to display publicly without changing any rarity. By representing all people regardless of their orientation, Supercute World aims to bring authentic representation of its holders and a genuine sense of belonging while aiming to evoke the playfulness of art, toyetic design, and streetwear fashion. It is the first truly inclusive project that allows holders to pick the art first and then give them the ability to display the version that best represents them.
Additionally, Supercute World features animated characters designed by well-known ‘Chocotoy’ artist duo of Luis Albornoz and Karen Guevara, who have collaborated with Adidas and Superplastic as well as famous musicians like J Balvin and Bad Bunny for an album cover.
Supercute World is also the first full-stack project for world class Web3 developer platform Alchemy, which is already powering the infrastructure for Cryptokitties, Moonbirds and many more top projects in the space. The crypto start-up nearly tripled its valuation to $10.2 billion in just three months after the company announced it raised a $200 million equity round led by existing investor Lightspeed and new investor Silver Lake. Alchemy’s partnership with Supercute World is the latest that is helping build incredible businesses and enabling the future of Web3. To find out more about Supercute World and its dedication to inclusive NFTs, visit its Twitter page and website.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
