NFTs are a ‘fantastic gateway’ for women to break into crypto, says Zuckerberg Media CEO
The cryptocurrency space is dominated by men at the moment, but Randi Zuckerberg believes there is a way women can catch up.
Randi Zuckerberg, CEO of Zuckerberg Media, told Yahoo Finance Live that nonfungible tokens (NFTs) present a fantastic gateway for women to enter the cryptocurrency space.
A recent survey has revealed that more than 70% of cryptocurrency traders and investors are men. This implies that women are under-represented in the cryptocurrency space despite the market experiencing massive growth over the past few years.
Randi Zuckerberg believes that thanks to the emergence of NFTs, women have a way to enter the cryptocurrency space. She said;
"Crypto is on sale right now, and if you're anything like me, for any of the women out there, you know how to shop a good sale. So I thank you crypto for this early-in-the-year sale that you're having."
Zuckerberg, the sister of Meta CEO Mark Zuckerberg, recently became a member of the OKCoin crypto exchange. She is part of the brand advisory council. In her role, she will help the crypto exchange's customer base grow from its current 24% to 50% over the next three years. She stated that;
"I've spent the last 15 years fighting an uphill battle in tech where I've routinely been the only woman in the room in almost any company. So for me, when I first started to get excited about crypto, I saw it as an opportunity for women to get in on the ground floor."
The cryptocurrency market is riskier compared to the traditional financial markets. Numerous studies over the years have shown that women are more risk-averse than men when it comes to their overall investment strategy.
Hence, the challenge is to convince more women to take the risk and invest in digital currencies and assets. Zuckerberg said;
"When we think about cryptocurrency, we think that the only thing that you can do is buy and trade and sell, but what has really drawn me into crypto are so many of the things that we do naturally in business in our lives, collectibles, community identity, buying art, buying music, things like that, that are just such a natural extension of what we're already doing in our daily lives. For anyone out there, who's a newcomer into crypto, NFTs are a great way to dip your toe in and really learn about the industry in a deeper way."
NFTs have become very popular and have gained adoption beyond the cryptocurrency space.