Over the last few years, the cryptocurrency industry has made significant gains toward mainstream acceptance. So much so, in fact, some nations are adopting it as formal currency, while others, such as the U.S., are considering various regulations to better get a grasp on it.
And during this year’s Super Bowl, cryptocurrency exchanges, like FTX and Coinbase, exploded onto the scene with celebrity-packed commercials and… other memorable ads. But despite these massive forays into the mainstream, crypto still seems like it might just not be for everyone.
So, in an effort to remedy the substantial gender gap in the industry, crypto exchange FTX has partnered with Naomi Osaka in order to draw more women to the technology.
The data, however, shows that the vast majority of people who are familiar with crypto don’t care much about a celebrity endorsement.
But if we break these questions along gender lines we see that women are, in fact, slightly more likely to respond to a celebrity’s endorsement in the crypto industry.
Beyond that, almost a third of the Gen Pop that is familiar with the cryptocurrency industry are at least “somewhat concerned” about the lack of diversity and inclusiveness in this fintech space.
This sentiment is, unsurprisingly, much more prominent among women than men.
So even though rates of crypto investment among the Gen Pop continue to rise year over year:
The rates of new investors or those expressing interest in it are not quite the same.
Data shows, ultimately, that women don’t invest due to not understanding blockchain tech, a rate nearly 50% higher than men who don’t invest for the same reason.
And these women who may be left out of the crypto conversation are primarily in professional, managerial, and technical fields, indicating it’s not necessarily lack of exposure to the industry, but rather lack of inclusion.
Perhaps FTX’s move to bring on Naomi Osaka could be an effective way to begin countering this trend among women.
CivicScience will continue to track demographic trends across the cryptocurrency industry as it continues to grow.