Building the metaverse without bias

As the COVID-19 pandemic has decimated some industries like tourism and retail, other entirely new industries have emerged. Two years ag...

As the COVID-19 pandemic has decimated some industries like tourism and retail, other entirely new industries have emerged. Two years ago, the concept of “metaverse” was virtually unknown. Today the term is buzzing everywhere online, with new businesses and new funds entering the space every week – billions of dollars have already been poured into the industry. Last week Mark Zuckerberg announcement that Facebook will become a metaverse business.

Meanwhile, few “metaverse” businesses have a scale or actual customers, making it easy for onlookers to dismiss it as a trend that could ignite. We will warn against this.

The last time we saw such a boom was in crypto in the mid-2010s. People who jumped on the crypto bandwagon in those early days – think Mike Novogratz, Joseph lubin, Tyler and Cameron Winklevoss, and Antoine Pompliano – are now considered to be true experts in the field. They also made huge fortunes by acting quickly when they first spotted the opportunity.

Indeed, new industries can unearth massive opportunities for people who are creative and agile enough to identify new niches and reinvent themselves. They also create opportunities for underrepresented people, as traditional hiring requirements for previous related work experience fly up in the air when no one in the world really has relevant work experience. This brings back the old adage attributed to the Dutch philosopher Desiderius Erasmus from Rotterdam: “In the land of the blind, the one-eyed is king. If no one is an expert, then everyone has a chance to be.

Related: The Metaverse: Mark Zuckerberg’s Brave New World

Time of the metaverse

Now is the time for the adventurous and ambitious to plant a flag in the plots of the nascent Metaverse industry, as today’s Metaverse startups will be among the Fortune 500 companies of tomorrow. While that might sound a bit far-fetched, consider Coinbase – now valued at over $ 54 billion – was founded in 2012 when 1 Bitcoin (BTC) sold for around $ 12 and was something the pirates played with in their dorms.

It is at this point, when an industry is taking shape – like a primordial slime – that the opportunities are greatest, and not just for economic gain, but also for building a personal brand. When you join a business in the early stages of a new industry, you not only become a co-founder of the business, but also an industry pioneer. These early employees lay the foundation for the entire industry, shape its trajectory, and set ethics and ground rules. Around the Metavers, a new generation of leaders will emerge. It’s an exciting time to consider becoming one of them.

Metaverse jobs will range from everything from blockchain and game programmers to animators, designers, marketers, and even accountants, recruiters, and lawyers. Small businesses in the real world could grow into big businesses in the metaverse, where business owners aren’t burdened with the dangers of brick-and-mortar retail. Amazon and Etsy stores can become metaverse goldmines, where customers can interact with products in 3D and transact seamlessly through the opportunity of blockchain technology.

Related: Tales of 2050: a look at a world built on NFTs

Great opportunities for women

Despite all this industry growth, as two women working in the metaverse industry, we often find ourselves the only women on predominantly male job calls. Months ago, when we first discussed the new opportunities offered by these uncharted waters, we had a conversation that went like this:

Julia: Do you think the metaverse industry will be different from the crypto industry, with more women in leadership roles?

Janine: Well I have to dig a little deeper into my career history to make that connection. In my early twenties, while working in private equity in New York City, I was recruited for a job in Las Vegas with a casino gaming company. At the time, Vegas was in a gold rush, and they were running out of hiring local talent sophisticated enough to handle the extreme growth, so they recruited from the coasts. When I visited Las Vegas for interviews, I met many women in very senior positions, which was very different from the male-dominated workplaces I knew in New York City.

Julia: What does this have to do with job opportunities for women?

Janine: Booms create talent shortages, which means hiring managers need to think creatively about how to fill positions. All of those unconscious (and conscious) biases that often prevent women from occupying the top spots are put aside in the interest of doing the job that needs to be done. And the result is that women who show up at these rare windows of opportunity often find themselves in the right place at the right time. They gain seniority and experience which makes them invaluable. This is precisely what is happening in the metaverse today.

Simply put, there are huge opportunities for women in the metaverse industry today. A simple search for the word “metaverse” on LinkedIn job pages reveals few jobs other than Roblox. But at the current rate, there will be thousands of metaverse jobs in the very near future. With our unemployment rates currently low, there will be plenty of opportunities.

Scientific proof suggests that women are more risk averse than men, which may (among many other reasons) explain why women are under-represented on boards, senior executives and other positions of power. It can be argued, however, that much of this disparity in risky behavior between men and women can be attributed to the “culture” and societal norms that have been promoted rather than to “nature”. Risk tolerances and attitudes are not totally immutable, and the metaverse offers an opportunity to rewrite history and build a more equitable (albeit virtual) society.

Web 3.0 is here, and virtual worlds are a blank slate – a chance for women, not just men, to get in early and leave their mark on the metaverse. (Notice earlier in this article we mentioned some pioneers who dove into crypto in the mid-2010s, almost all of them men.) History tends to repeat itself.

But this time, things may be different. Here is what we know:

  1. It’s still the early days for the Metaverse.
  2. The first few days mean high risk.
  3. High risk can mean high reward.

The whole idea of ​​the metaverse is that everyone is an avatar. In the Metaverse, talent trumps any bias, including physical appearances. The Metaverse opens up a whole new parallel economy for participants who wish to immerse themselves in the global communities that build them. Now is the time for women to take risks and get started.

This article was co-authored by Janine Yorio and Julia schwartz.

This article does not contain any investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research before making a decision. The views, thoughts and opinions expressed here are solely the property of the authors and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Janine Yorio is the co-head of Republic Realm, a metaverse / NFT investment and innovation platform. Previously, she was CEO of Compound. Janine holds a BA from Yale University.

Julia schwartz is the director of Republic Realm, a metaverse / NFT investment and innovation platform. Previously, she managed investor relations at Neuberger Berman Private Equity. Julia holds a BA from Georgetown University.