Web3, a new and the next version of the Internet, where services will run on blockchain, is now changing the future of jobs and hiring. In Web3, the hiring process is not just easier, but also takes less time.
Sneha Mishra, who moved from Web2 to the all-new world of Web3, is working on multiple projects and is an active community member. Over the last few months, Sneha has received multiple job offers. On email or LinkedIn we ask? On Discord (a voice, video, and chat app), she replies.
Stating that in WEb3, the hiring barely takes a week compared to the months-long process in Web2 companies, She says, “instead of multiple selection processes that go on for weeks, in Web3 it ranges from a couple of days to a week.
In web3, the salaries are on a different scale too. Sneha told Money Control that while some firms pay in crypto coins such as Bitcoin and Ethereum, others pay through their own coins or fiat (currency). Around $2,000 a month is the average pay of a rookie Web3 developer at the moment. It can go up to $7,000 for the experienced ones, claimed many founders and techies.
If you are wondering how to look for a job on Web3, then it is by sending a direct message to the team you want to work with or vice versa, or a referral, or show some proof of work and it’s done.
Web 3.0 which was merely a buzzword until a few months back is now being used by several companies for hiring. Multiple projects have come up and more investments have been flowing into the country. For instance, the VC firm Antler India plans to deploy $100-150 million in more than 100 startups in India over the next three years. Reports peg that Web3 can help India contribute an additional $1.1 trillion in economic growth to its GDP in the next 11 years, reports Moneycontrol.
Tectonic and culture shift
The new Web3 startups which are dominated by the younger generation (Gen Zs) are bringing in a cultural shift. As a result of this shift, hiring the right talent too is undergoing a tectonic shift. These hires on Web3, mostly happen via Telegram, Twitter and Discord.
Muskan Kalra, Lead Developer Relations, Polygon, says, “Hiring in Web3 is very informal. You see someone and like his/her projects, and if you want them to work with this team you simply approach that person.”
In this new age of hiring, resumes or education qualifications aren’t always a necessity, as many companies now look at Twitter, LinkedIn, and GitHub profiles of the candidates. “We also check the GitCoin profile (a platform where you can get paid for working on open source software) sometimes. At times, you don’t even ask for the resume,” Kalra said. He added, “And for me, if I see someone participating in a hackathon, and I’ve seen the project, I’ll simply approach and ask if they want to work with my team.”
Vikas Singh, who is building Bliv.Club, says, “Web3 founders are always in hiring mode, finding people whom they resonate with.” Vikas who is hiring candidates via Twitter and other channels and also through WhatsApp referrals adds, “I put up a WhatsApp status, and people start reaching out with referrals,” he explains.
Further he says, “In Web3, the person needs to be motivated and self-driven so that he can learn the skills. So, before onboarding one, we need to see if he or she has done some work in that space, and that is a sufficient signal to say that he will be a good hire.”
The new challenges
The current team sizes of these early-stage Web3 startups is currently quite small and between 2-20 at the most. Meanwhile the money flowing in with a limited talent pool has its own challenges.
These startups need very unique and niche skill sets for product development, which becomes a hurdle. In web3, just like Web2, retaining talent is a major problem for these founders, especially when these startups are trying to build global products and need to match their global counterparts in pay.
Neha Kumari, founder of a Web3 startup Carret, sharing her experience said, that through Telegram channels, they had come across one potential candidate who was based in London but could not match her ask. Luckily, they again came across another person, through Telegram, based in India who turned out to be a good hire.
Tosehndra Sharma, founder of NFTically, says that he tries to hire people who are keen about Web3 and have done good work in Web2. “We enable them and give them some exposure first. After the first month, these new joinees start focusing on the work.” However he laments that within a few months of learning these skills, joinees find jobs with 100-200 per cent hikes and move to a new job.
Srijan Agarwal, Head of Special Projects, DevFolio: “People right now have access to everyone in the ecosystem. You can literally reach out to a Web3 founder, and they will reply. These founders are extremely accessible. If you are good, you can work anywhere you want. The advantage is actually to the employee here and not the employer, because everyone is paying a good amount of money.” Agarwal says that hackathons helped her to hire other companies who hire good Web2 developers and train them in Web3.
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