Workers in the Web3 job market are in greater demand than ever, thanks to the Covid-19 pandemic and the growth of the Web3 space, especially those with expertise in blockchains and their applications, such as cryptocurrencies and non-fungible tokens (NFTs).

According to a recent survey by the job-search website Indeed, the number of job postings for cryptocurrencies, blockchain technology, and NFTs surged by an astounding 804% between April 2020 and April 2022. If you have any remaining concerns about working in the cryptocurrency and NFT industries, here is a guide to help you overcome them and ride the wave.

The Web3 job market is a rapidly growing sector, driven by the emergence of blockchain technology and the decentralized web. This new industry is creating a wide range of job opportunities for professionals with skills in areas such as cryptography, blockchain development, smart contracts, and decentralized applications (dApps).

Let’s explore the Web3 job market, the skills required to succeed, and the potential for growth in the future.

What is Web3?

Web3 refers to the next generation of the internet, where data is decentralized, secure, and controlled by its users. It is a movement that seeks to replace the centralized infrastructure of the internet with a more open, transparent, and democratic system. This new architecture is built on blockchain technology, which enables the creation of decentralized applications and smart contracts that can execute automatically without intermediaries.

What are Web3 jobs?

Web3 jobs are positions that require expertise in areas related to blockchain technology, cryptography, and decentralized applications. Some examples of Web3 jobs include blockchain developers, smart contract developers, cryptography experts, dApp developers, and blockchain architects. These professionals are in high demand by companies and organizations looking to leverage blockchain technology to create more secure and transparent systems.

Skills required for Web3 jobs

To succeed in the Web3 job market, professionals need a strong foundation in blockchain technology and its applications. This includes knowledge of distributed systems, cryptography, consensus algorithms, smart contracts, and decentralized applications. Additionally, developers need to be proficient in programming languages such as Solidity, JavaScript, and Python. Strong problem-solving and analytical skills are also essential, as blockchain technology is still in its early stages, and many challenges remain to be solved.

The potential for growth in the Web3 job market

The Web3 job market is still in its early stages but growing rapidly. As more companies and organizations adopt blockchain technology, the demand for skilled professionals is expected to increase. According to a report by Hired, the demand for blockchain engineers increased by 517% in 2021, compared to the previous year. The report also showed that blockchain engineers are among the highest-paid tech professionals, with an average salary of $150,000 per year

Why work in the Web3 and NFT industries?

The adoption rate for developers is high.

According to a SlashData study, a sizable percentage of engineers are curious to learn more about cryptocurrencies, blockchain technology, and NFTs (about 67%, 59%, and 48%). As developers keep an eye out for updates and new trends, we may be able to predict the future of crypto-related technologies by looking at learning rates. It is, therefore, quite likely that the topics they investigate and research will be popular.

International companies entering the industry

Digital assets are a significant expense for multinational companies like Adidas, Visa, Louis Vuitton, Taco Bell, Pizza Hut, and Pringles.

Huge salaries

One benefit of working in the crypto and NFT businesses is earning a big salary. The web3 job market paytable shows a maximum income of $500,000 and an income range of $63,000 to $120,000 annually. Notably, estimates reveal that VC firms invested in blockchain and cryptocurrency enterprises totaling $30 billion in 2017.

A shortage of talent

Notably, many companies working in the area struggle to find enough suitable people while having adequate resources to invest in. Developers are in short supply; for example, Singapore’s demand for blockchain and cryptocurrency experts has increased by 80%. According to Electric Capital, the number of Web3 developers has increased to over 18,000 monthly active developers, which is a record high.

Furthermore, it is uncommon in the sector; for instance, DeFi only has 1,000 developers overseeing smart contracts with assets worth more than $100 billion.

Benefits of working in a field

Despite developers being the most in-demand employees, businesses also employ many non-technical staff. Market researchers, copywriters, community managers, recruiters, sales managers, financial analysts, and other professionals are required.

• As the market expands, new job possibilities are emerging, including those for token economics, NFT drop experts, and crypto art promoters.
• Your pay will be comparable with the market.
• Much more room exists for you to express yourself.
• You join the movement that is transforming the world, providing you the chance to concentrate on creativity and create a roadmap for significant discoveries that will have a substantial impact on our way of life.
• Negative aspects of working in an area
• A developer needs to be highly technical, with expertise in languages and frameworks including Solidity, Golang, C++, C#, Python, and React.

You will require at least a general understanding of the cryptocurrency sector, such as how traditional marketing and crypto marketing differ, even if you are not a developer. So, if you’re just starting, be ready to invest a lot of time studying. The market for cryptocurrencies is increasing. Lewis Carroll once said, “If you wish to stay put, you should escape as rapidly as you can,” This is a very true statement.

Also Read: Top 4 Crypto Jobs To Join The Web3 Revolution

What kind of pay might one expect?

Product managers can earn up to $114,000 annually, while designers can earn up to $80,000.

Marketing specialists frequently make an average salary of $75,000 per year, which is lower than that of community and SMM managers. Once more, your remuneration would be commensurate with your credentials, degree of experience, and country of residence. For instance, according to ZipRecruiter, the average yearly salary in the United States is $120,405 for each individual. However, as the range spread may be big, you shouldn’t be afraid to barter your recompense.

PRO tips on securing your ideal position

The OpenSea blog, Binance Academy, Crypto Explainer+, NFT Now, glossaries, 99Bitcoins YouTube channel, and other resources are just a few sites where novices can find instructions. Consider OneArt Medium as well for advice. Cryptography relies heavily on networking. Interact with the community by joining the OneArt Discord server, Telegram group, and Binance Community.

Use cryptography by, for instance, setting up a wallet and an account on a website. Even though it might seem apparent, update your resume to reflect your desired job requirements. Have you given presentations, worked on projects, or written articles about cryptocurrencies? That works as well. Also, consider your soft talents, such as your capacity for quick learning, teamwork, quick adaptation, and self-motivation.

Conclusion

The Web3 job market is an exciting and rapidly growing sector that offers a wide range of job opportunities for professionals with skills in blockchain technology, cryptography, and decentralized applications. As more companies and organizations adopt blockchain technology, the demand for skilled professionals is expected to increase, and salaries are likely to rise. If you are interested in pursuing a career in the Web3 job market, now is an excellent time to start building your skills and expertise in this exciting field.