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The NFT Space Needs to Do More to Uplift Black Artists

It’s no secret that white guys dominate crypto circles – after all, the “crypto bro” label has been around for a long time. According to Morning Consult, men will own up to 70% of the world’s cryptocurrency accounts by 2022, with white men accounting for 62% of that total. Given that the cryptosphere gave birth to the NFT ecosystem, it’s easy to see how this demography has eventually migrated to our new blockchain-based creative economy. In a recent interview with It’s Nice That, Anthony Gibbs, founder of The Black Arts Project, mentioned these systemic concerns with representation in the NFT community, 

   “I discovered there weren’t any really high-profile NFT projects that were driven by Black people and focused solely on Black people.” 

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Black professionals in tech industry being ‘left behind’ due to persistent racial inequalities

According to recent research from the non-profit Colorintech and Meta, large and persistent racial inequities continue, with expanding gaps between what organizations say and what they do to promote inclusion.

Nearly a quarter (30%) of those polled stated that they can’t – and don’t want to – be their true selves at work, and that they feel compelled to be inauthentic for fear of not progressing, and that a façade of conformity must override their personal values, views, and attributes in order to fit in with organizational ones.

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VCs on a mission: 23 investors looking to fund women, Black, Latin and LGBTQ founders

It’s no secret that the venture capital industry suffers from a lack of diversity. The statistics are startling: 76 percent of venture capital partners are white men. This is despite the fact that many prominent venture capital firms publicly pledged to diversify the founders in their portfolios in 2020 after the murder of George Floyd.

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AWS launches a new $30M accelerator program aimed at minority founders

Amazon Web Services (AWS) today announced the introduction of AWS Impact Accelerator, a new initiative that will award up to $30 million to early-stage firms run by Black, Latino, LGBTQIA+, and female founders. The three-year effort, according to Amazon, would assist participants in establishing profitable businesses while “accelerating” growth in their respective areas. However, some opponents argue that the AWS Impact Accelerator does not go far enough in assisting historically excluded entrepreneurs.

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