Summary
Non-fungible tokens - or NFTs as they’re known - are already big business, whether you’ve heard about them or not. But when it comes to those creating them, there’s a huge gender disparity.
We hear from two female artists - Michele Pred in Oakland and Yiying Lu from San Francisco - plus Liana Zavo who runs her own PR and marketing company. Women make up just 16% of all NFT artists - according to ArtTactic, a London-based company that focuses on research and data in the world of art. Anders Petterson from the group explains why. Plus Maliha Abidi, an artist, author and activist, and the creator of Women Rise NFT, says she’s determined to make a change. Presenter: Tamasin Ford Producer: Sarah Treanor
(Picture: A woman looks at a NFT by Larva Labs titled "CryptoPunk 7523"; Credit: Timothy A Clary/AFP via Getty Images)
Transcript
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| 0:00.0 | Hello, I'm Tamerson Ford. Welcome to Business Daily from the BBC. |
| 0:05.0 | Whether you've heard about them or not, non-fundable tokens or NFTs, as they're known, are already big business. |
| 0:14.0 | We're in a new digital portal right now. It's the new economy. It's the Web 3.0. You need to educate yourself because this is not going |
| 0:25.2 | anywhere. Whether that's true or not, one thing we do know is that women are scarce in this crazy |
| 0:33.3 | new digital world. This is very similar to the venture capital world. |
| 0:39.9 | If you look at the venture capital world, the VC world, the business world, the C-suite world, |
| 0:45.1 | it's not new, unfortunately. |
| 0:48.6 | We find out why. |
| 0:50.2 | That's in today's Business Daily from the BBC. |
| 0:58.3 | Thank you. That's in today's Business Daily from the BBC. A non-fundable token. |
| 1:00.6 | Non-fungible token. |
| 1:04.9 | So, NFT stands for non-fundable token. |
| 1:08.7 | I will be honest that I'm probably not the person to give you the simplest definition. |
| 1:15.0 | It's basically a token that is non-fungible. |
| 1:19.6 | Confused? Well, you're not alone. |
| 1:22.5 | Even the non-fundable token experts find them hard to explain. |
| 1:30.5 | Okay, let's start with the word fungible. I had to look this one up myself. Fungible. Replacable by another identical item, |
| 1:38.9 | mutually interchangeable. So if it's non-fungible, it means it's irreplaceable, it's unique. And an NFT, as they're called, |
| 1:48.3 | can be anything, a piece of music, a video, digital art, or even a photo of a physical piece of |
| 1:55.4 | artwork. The reason why it's unique is that it exists on the blockchain, which is essentially |
| 2:02.6 | blocks of information stored on a public digital register. A special unique code is generated |
| 2:09.9 | for each NFT. My first NFT was an image of an equal pay dollar that I painted pink and stamped equal pay on it. That's a |
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