GM, BFF: Web3 and the future of wealth

April marks the beginning of financial literacy and wellness month. Web3 has the potential to help women mitigate long withstanding financial disparities.

As BFF Contributor Shagun Karki Chetri writes for us this week, women of color, in particular, are even more disadvantaged, earning significantly less than white, non-Hispanic men. The financial industry has also been notoriously male-dominated, with men occupying most of the senior roles. Breaking down gender barriers has been a difficult and an ongoing process, but women have made great strides in recent years thanks to a changing mindset.

Decentralized financial systems powered by blockchain technology are now changing the game. This technology is enabling women to take part in transactions and investments without relying on intermediaries or traditional financial institutions. With blockchain, there is a more transparent and accountable financial system that can help address the existing gender disparities in the industry. This technology has the potential to level the playing field for women and usher in a new era of prosperity.

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8-month high. In advance of a highly anticipated network upgrade, Ethereum approached $2,000 in value, the highest price for the digital currency in eight months. On April 12th, the second phase of the network's proof-of-stake mechanism will begin, allowing network validators to unstake ETH previously locked in a smart contract on Ethereum’s Beacon Chain.

Largely white and male. The $6 trillion industry of web3 has a diversity problem. Just 13% of Web3 founding teams include a female member and only 7% of founders in Web3 are women.

Put a pause on AI? More than 1,000 leaders across the world of technology signed a letter urging artificial intelligence labs to pause development of the most advanced systems. Coinbase CEO Brian Armstrong doesn’t think it’s the right move. We discussed this and more in our Twitter Space last week and you can check it out here.

Token-gated Ticketmaster. In a highly anticipated announcement, Ticketmaster announced  that the Ethereum NFT token-gating feature is live for artists. It  was developed alongside Avenged Sevenfold, a metal band that has its own NFT collection.

An incriminating NFT. Activist artist Nadya Tolokonnikova, the head of Russian performance art group Pussy Riot, was added to a wanted list over a 2021 NFT piece depicting the Virgin Mary. "Any truly political artist risks their personal safety for the sake of their art—it is not a new concept for me," she said.

Gucci goes Meta. The luxury brand is partnering with Yuga Labs on a limited-edition series of physical Gucci products and related NFTs. The collection is related to Otherside, Yuga’s ape-themed metaverse game.

The team at crypto wallet maker Ledger, including VP of Communications Ariel Wengroff, raised $100 million in funding. BFF Co-Founder Jaime Schmidt participated in the round through her fund Color.  

Our friends at HUG, including Co-Founder Randi Zuckerberg, recently opened applications for their latest advisory and education programs. Whether you’re an artist looking to grow your brand or break into Web3, a Web3 business looking for long-term growth, or an entrepreneur with an idea for an NFT business, there’s a program that might be perfect for you! Learn more and apply here.

OurPlace Founder Shiza Shahid shares with CBS the origins of her cookware brand. "In Pakistan, so much of our life and our culture revolves around cooking in the home and breaking bread together," she said.

Inspired Capital Founder Alexa von Tobel made it on LAWeekly’s 40 Under 40 list.

Barron's named venture capitalists Aileen Lee and Jenny Lefcourt to their Most Influential Women In Finance List.

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This is not financial advice. If you don't want to spend money investing in crypto or Web3 — you don’t have to. The intent of this article is to help others educate themselves and learn.

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