– by Athan Slotkin
As the NFT and blockchain market experience explosive growth, so does the apparent trend of male dominance. According to a 2021 State of U.S. Crypto report, 75% of crypto holders are male.
Sales of NFTs are rising quickly, however, most of the artists making the biggest sales in the NFT marketplace this past year are also male. For decades, gender disparities have dominated both the banking and financial service industry.
Blockchains need greater opportunities for women, so it’s becoming more apparent that those “invested” and investing in this sector need to allocate proper attention to talented women participating and developing in this space or industry.
Athan Slotkin understands this sentiment well and is doing his part to dismantle the gender-based system. With over 15 years of experience turning business ideas into possibilities, due to the emerging market frenzy, his coaching offerings and expertise now expands into NFT-specific strategies and utilizing blockchain technology incentives to improve business processes.
Many have the perception that crypto is just for men, but there is a growing number of women entering the industry. In April 2020, CoinMarketCap indicated that the number of female cryptocurrency participants had increased by 43.24% in the first quarter from the previous year.
Yet, male investors still outnumber women – twice as many men as women invest in cryptocurrency. But where does the ‘women don’t get crypto’ sentiment come from? Crypto’s marketing tactics aren’t designed to attract women to the space. The cryptocurrency and NFT market are the new crossover point between technology and finance, two sectors where the gender issue already exists.
Women lack representation in technology not because it is too difficult or abstract for them to grasp, but because technology has not been developed with their preferences and interests in mind.
Top-down, a male market has been formed that leads to the perception that men have inherently greater knowledge and right to space in the technology sector compared to women. The crypto market is just inheriting this “bro” problem that already existed and further compounding the issue.
If we can initially get more women into the tech and finance spaces, then more female-centric products and marketing will exist to fill these gender-gaps. Women in traditional tech and finance roles have the skill sets and potential interest to come into the NFT space. No doubt, making the leap is uncomfortable for women, but as initial pioneers come in, hopefully more women will follow suit.
As mentioned, a growing number of women artists, coders, entrepreneurs, and investors are embracing cryptocurrency and NFTs, and they need men – at least in the sense that they need their continued support.
Male investors must support female-led projects to change the gender problem in the cryptocurrency industry. Invest in their projects and participate in this male-dominated sector knowing your privilege and role in changing the gender issue. Simple as making space for women.
Creators on the blockchain such as Boss Beauties and World of Women need to have more of a solid foundational support and that should come from everyone in the industry. They are truly paving the way and using their twist on the blockchain to make it relevant and interesting.
Mr. Slotkin personally supports their projects and tries to educate his male friends on them too – to invest, support, and educate others in how they can and should do the same. Several of these projects are currently slightly skewed towards and marketed as female-empowerment projects for and with women only in order to be effective in the market
That most certainly has to be their initial call-to-action but overtime more women developers can create projects that are more gender-neutral, marketed for everyone, and are just as impactful.
Women from outside the industry are also contributing to the rise of women in crypto by advocating for a spot Bitcoin ETF. An ETF is a traditional investment vehicle that’s designed to track the performance of a particular asset or a group of assets which allows investors to receive exposure to these assets and diversify their portfolios without worrying about owning the underlying products.
A regular spot-based Bitcoin ETF tracks Bitcoin and mimics the price of the digital currency so investors do not have to take the leap into trading Bitcoin itself. Especially for investors who are outside the crypto field, possibly coming from traditional finance, or less-savvy in the space, spot-based Bitcoin ETFs have great benefits, like supporting women from the initial Bitcoin ETF launch to make a myriad of possibilities that support the full human spectrum.
The decentralized finance (DeFi) model of cryptocurrencies experienced massive growth this past year. Women and nonbinary folk have the incredible opportunity to help continue shape the emerging field to be different from the existing tech and financial systems. Businesses should be aware that DeFi is tough to beat.
Investors using DeFi can make trades and move their assets at any time without having to wait on bank transfers or pay bank fees. Banks have a lot of people and staff costs to take care of whereas DeFi provides advantages such as cost, speed, and security. Those changing the DeFi game can actively hire and recruit women which can help change the narrative around diversity in the financial system.
NFTs are another trend to keep an eye on as digital artwork is the current craze. New investors need to spend time learning but by shadow investing in something small to start, you can learn a lot. Following an experienced investor will provide insight to how they strike gold with their investments.
Once more people are aware of the economics behind NFTs, they will want to leverage them. For example, Boss Beauties NFT raised about 5 million dollars in 90 minutes. People will see this as potential and see this potential from women developers.
There needs to be an end to the “bro” world, and female artists offer a unique perspective through the amplification of portfolio diversification. This is the woke world where we all stand strong, equally, together.
By supporting the development of working women and artists who are creating profitable NFTs, we can further the endgame of users and investors when creating a balanced and proportional playing field that we can all benefit from.
About the leader
Athan Slotkin, also known as The Shadow CEO, has been working as a business strategy consultant for over 15 years, helping elite firms, small businesses and entrepreneurs alike achieve their biggest dreams.
On the side, Athan is an avid athlete—enjoy basketball, football, soccer, and tennis—expansive world traveler, and food lover/critique (who isn’t?). In his early years, he hustled to pay for both his BA from Cornell University and his MBA from Yale University through poker, quickly advancing to the professional level where he teaches on the side still today.
Utilizing his expertise in game theory, Athan focuses on the competition, ensuring that the businesses he advise and guide are positioned appropriately. He loves sharing his passion for entrepreneurship with the world and often works with media outlets everywhere from CBS to SiriusXM to discuss how current events affect small businesses and the entrepreneurs that run them.
On a more professional note, Athan has consulted at nearly every level. From organic tampons and post-surgical care to meshed SaaS-based businesses and generalized corporate ventures, covering a breadth of industries including travel, financial services, real estate, retail, grocery, and even gas surprisingly enough.
However, Athan’s unique proposition offering lies in providing advice and guidance on how to fundamentally develop and implement a successful business strategy. Before going private with his own consulting firm, he had worked with global brands like American Express as well as the Black, Platinum, and Gold Cards to create, manage, and refine their rewards programs, products, and services to align with the company’s vision or someone’s vision for the company. Alongside those efforts, Athan had also previously served as a Forbes Council member for Forbes Los Angeles Business Council.
Athan has had the privilege to work directly with thousands of entrepreneurs from all around the world. Luckily, having traveled to 120 countries, his goal is to get to every country in the world, as he truly believes that working with people from all walks of life brings new ideas, thought path, and the unique opportunity to connect and create something amazing together.
Growing up in NYC, Athan was always mesmerized by the array of diverse people and backgrounds all around him. It thrilled him that there was always a possibility to build off of nothing and do something great.
Athan believes that he’s lucky because not everyone is as fortunate. Through business, one has the opportunity to connect varying landscapes on a global level. Working with clients throughout the world gives him that day-to-day ‘travel’ experience – making his life richer, and as a result, heightens the enjoyment of his work and what he can give back to other people.