New study reveals how underrepresented female digital artists are amid digital collectibles craze
One of the most overhyped attempts to bring equality into the digital collectibles segment ended in a dramatic scandal. Here’s why it is crucial for the future of the NFT segment.
Men are responsible for at least 79% of all NFT art sales
According to the Art Tactic NFT Art Market Report 2021 shared by Bloomberg Equality, women are behind only 1 in 20 NFT sales in the current craze for digital collectibles.
Fame Lady Squad, a label of NFT creators that promotes itself as a first-ever female digital art collective, was actually run by men. Despite this fact, the legend allowed it to raise $1.5 million from VCs and angel investors.
After an outcry, the fraudsters agreed to hand over all governance of the project to a group of women. But the point is, the entire NFT segment remains male dominated.
The mentioned report also indicated that in 16% of cases, the gender of the creator remained unknown. Another aspect of the weak position of female digital artists is that they earn less than men.
“In five years, it will be better”
Grimes, the musician, remains the only artist in the top 10 NFT sellers in terms of revenue. Bloomberg calculated that NFT’s net secondary sales amounted to $ 3.5 billion in the first nine months of 2021.
This inequality in digital art has been inherited from its “classic” form: 87% of artists showcased in the top museums are men.
Kelly LeValley Hunt, one of the first female CEOs in the NFT segment, said she was often the only female speaker at digital arts and tokenization conferences. At a conference, men asked her if she knew what NFT was:
I still get asked silly questions. Hopefully in another five years, it will get a bit better.
As previously reported by U.Today, socialite and businesswoman Paris Hilton is one of the most active promoters of the NFT segment.
