03-22-2022 icon

How Women Can Venture Into, Shape the World of Web3.0

By Lucy Adegbe
Women in Web3

The concept of Web 3.0 is gaining attention as it targets democratizing the internet by taking power away from the big tech companies and putting the same in the hands of creators who focus on artworks, music and videos.

At the beginning of the internet in the mid-late 1990s was Web1.0 where users had the power to only read content from static sites. Web 2.0 ushered in big tech companies like Facebook, Amazon, YouTube, Netflix and more, giving users the power to read and write content.

Being quite simple to use, web 2.0 has led to the boom in the number of creators globally, giving them the opportunity to upload videos or artwork for millions of people to view.

However, web 2.0 presents some downsides, especially in the area of monetization and security. These companies launch their apps, onboard so many users and monetize this user-base through display and click ads. This is in addition to the numerous security breaches constantly being witnessed. 

Hence there should be room for improvement and this is where Web 3.0 comes in. Web 3.0 absolutely puts power in the hands of the user, presenting an opportunity to read, write and own content.

Rather than big tech companies taking ownership of their creators’ content such that when there is a downtime, the content is inaccessible, Web 3.0 presents a decentralized internet, putting sole ownership of content in the hands of the creator.

With the growing interest in web 3.0, this space is typically attractive to both genders. In fact, it is now glaring that women entering into Web 3.0 have formed a movement even though there is a huge gender gap in the cryptocurrency space. According to estimates, there are only 5 female founders out of the 121 leading coins and only 29% of women are showing interest in blockchain technology.

Bringing Women into Web 3.0

As Web 3.0 continues to develop, it creates more room for women to make a phenomenal impact. And in this light, NairaEX, Nigeria’s best Bitcoin exchange platform, celebrated the 2022 International women’s Month by organizing a Twitter Space session with the theme “Women of Web3.0: A Conversation About Women Shaping the Web”. The session was aimed at demystifying the concept of Web3.0 and bringing more women into this space.

Meet the women on the panel

On the panel anchored by Peace Itimi were Blessing Abeng and Ire Aderinokun.

Peace Itimi Image Source: LinkedIn

Peace Itimi is a Digital Marketing Manager and Growth Marketing Lead with experience working for consumer-focused B2B and SaaS startups.

Ire Aderinokun, Image source: LinkedIn

Ire Aderinokun is a frontend developer and user interface designer from Lagos State, Nigeria. She currently serves as the Cofounder, COO and VP Engineering of Helicarrier – a company that is building cryptocurrency infrastructures for Africa with products such as Sendcash, Sendcash Pay, Buycoins and more.

Blessing Abeng, Image source: LinkedIn

Blessing Abeng, on the other hand, is a branding and communication and communication communications expert dedicated to helping brands to identify and communicate their identities and tell better stories. She has worked with known brands such as Facebook, GSK, Bolt and Alomo Bitters. Surprisingly and impressively, she has a knack for blockchain, crypto and Web3.0.

Both women took time to explain the concept of Web3.0, noting that this initiative is bringing so much value and it is high time women were brought in.

Speaking on her involvement in crypto space and how women can plug into Web3.0, Ire noted that though the initiative was still in its early stages, women are actively participating. 

“Recently, I’ve seen women doing things in this space but we don’t just see them,” Ire said. 

“Because Web3 and crypto are in their early stages, it’s unsafe to say that male or female-dominated. Since a powerful Web3.0 application is yet to be developed, women still have the chance to build great products.”

She further advised amateurs looking to get into Web3.0 to extensively study, pointing out that knowing blockchain, crypto, DAO and DeFi basics was important to break into this space.

Blessing who spoke about inclusivity, said cryptocurrencies and NFTs are paving the way for the growth and development of Web3.0. According to her, women need to put in more work and be active in the crypto space.

“Statistics has shown that 16% of men invest in crypto while only 7% of women invest,” Blessing said. 

“But in the case of stocks, bonds and real estate, women are actively participating. This shows that the presence of women in tech, finance and crypto is limited.”

Approaching Web3.0 and Trading Crypto

Approaching Web3.0 and trading digital currencies seems to be difficult for some women, especially newbies. But according to Blessing, this should be an easy ride if important questions were being asked. Among these questions are :

Do I approach Web3.0 from a creator perspective?

Do I approach it from an investor perspective?

Or from a learning perspective?

“There’s an opportunity for women to follow the Web3.0 and to carve our niche and break the bias by supporting women who are already using Web3, being part of it and knowing how to approach it,” Blessing noted.

Trading is one of the ways of making profits off the crypto market. According to Ire, the crypto market can be overwhelming due to its volatility and the numerous tokens that exist. She, however, advised women diving into trading to start with the two biggest coins — Bitcoin and Ethereum — before trying to diversify their portfolios. Research, according to her, cannot be overemphasized.

Also sharing her views, Blessing said the first step to investing and trading crypto is to join a community of like-minded people. And research is the next step.

She said, “It is important to analyze your risk appetite because that will determine how you approach your crypto portfolio.”

It has been suggested that getting involved in Web3.0 requires some level of technical knowledge how but Blessing says it “sounds harder than it is”.

With Web3.0 showing promising potential, with women now showing massive interest, we hope to build active women communities to drive this initiative.

Listen to a recap of the Twitter space session HERE