Women, Crypto, and… the NBA?
Ignoring a $24 trillion market.
While only 19% of women aged 18–29 own crypto (compared to 43% of men the same age), their success is inevitable.
Without testosterone coursing through my veins, it’s easy to resist cash grabs disguised as 10x coins. I’d sooner hop off a bridge, than buy an NFT without a fully doxed team. I rarely experience buyer’s remorse, (each coin is meticulously researched), and seldom worry about my portfolio’s performance (it’s deliberately diversified). With less impulsivity, biology is quite literally on my side.
Yet why are so few women invested in this promising asset class?
The challenge to attract women into the crypto space remains...
Whether it’s sponsoring NBA games (Coinbase) or renaming sporting arenas (FTX in Miami & Crypto.com in Los Angeles), it seems that crypto exchanges want men’s money. Targeting the same demographic of traditional financial products may be a “safe” strategy, but it falls short on cryptocurrency’s promises to democratize finance. With slogans like “Welcome to the Future of Money” and “Join the Financial Revolution,” it’s ironic that women are largely being ignored by marketers.
And while I don’t think the exchanges are obligated to market towards women, it seems that doing so would make good financial sense. With a global female income of $24 trillion last year, there are plenty of women with disposable income.
- Are women “not interested in finance” or are they not interested in the latest game at Crypto.com Arena? (A study by Morning Consult finds just 11% of women to be avid NBA fans.)
- Are they “scared to invest” or are they more interested in building long-term wealth rather than shorting new coins?
With $24 trillion up for grabs, it seems advantageous for crypto exchanges to hire a marketing team that understands women’s interests and motivations. Not to be considered “woke,” but for their own bottom line.