From time immemorial, women have received the short end of the stick in the workplace. While some progress has been made concerning the gender wage gap, women still receive lower pay on average and are less likely to have leadership roles. And unfortunately, it looks like the struggle continues in the metaverse.
According to McKinsey’s June 2022 value creation in the metaverse report, most metaverse leadership roles are held by men. However, women spend more time in the metaverse on average than men. Of those surveyed, 41 percent of women have engaged in a metaverse platform for over a year, according to the report. In comparison, only 34 percent of men have engaged with a metaverse for a full twelve months. Beyond this, women are also spending more time in the metaverse. Twenty-nine percent of men surveyed spend over 3 hours a week in the metaverse compared to 35 percent of female survey participants.
Men prefer experiencing the metaverse through a completely digital lens. Women, however, are more likely to engage in hybrid metaverse experiences that involve visiting real-world locations. Women are also more likely to lead metaverse initiatives in their workplace. Sixty percent of women surveyed stated they have implemented at least two initiatives relating to the metaverse. According to the report, this makes women 20 percent more likely to launch multiple metaverse-related initiatives than men.
With women being such a driving force of the metaverse, one might expect them to have more leadership positions than they do in most industries. Unfortunately, that’s not the case. Metaverse startups run by men receive a higher share of entrepreneurial funding. Likewise, in organizations developing standards for the metaverse, like the Open Metaverse Alliance for Web3, only 10 percent of leadership roles belong to women.
Support for Women in Tech
While there’s still a long way to go, some big names in the tech industry, such as Apple CEO Tim Cook, aim to support women in technology. McLaren Motorsport has been attempting to recruit more women to compete in Esports. And, of course, women are making moves in the tech and Web3 industries. The women-first streaming platform Dorian raised $14 million in March. In addition, Senior media exec Sharon Tal Yguado is launching her own game studio, developing a game where players determine their story.