How To Profit As A Web 3.0 Builder
What is Web 3.0?
We will explore in this thread, how to set yourself up for financial success even within the midst of this "bear" market.
/THREAD
What is Web 3.0?
We will explore in this thread, how to set yourself up for financial success even within the midst of this "bear" market.
/THREAD
Web 1, 2, & 3 are all part of the same movement — the movement from offline to online
Each phase brought certain things online that the previous did not
Each phase brought certain things online that the previous did not
E.g. Web3 brought gold and scarcity of fine art online which Web2 did not
That was web2’s original innovation. Making a financial product out of human attention and selling it to the highest bidder.
That was web2’s original innovation. Making a financial product out of human attention and selling it to the highest bidder.
In simplicity, Web 3.0 improves on the flaws of Web 2.0 and Web 2.5, which we can categorize into the following:
Trust
Anonymity
Control
Rich user experience
Trust
Anonymity
Control
Rich user experience
This economic engine for the internet is decentralized, moving away from the absolute control of Silicon Valley tech monoliths to peer-to-peer networks operating with no third parties at all.
Building Products
Products are built for users. Hence it makes sense to start with identifying the end-users in web3. No matter what you build, it is likely for one of these five end-user categories.
Products are built for users. Hence it makes sense to start with identifying the end-users in web3. No matter what you build, it is likely for one of these five end-user categories.
Utility maximizers are the billions that engage with Web2 applications today that don’t care about the underlying technology or the decentralization philosophy but simply seek a superior product.
This could be an enhancement of an existing experience i.e., better games, social networks, creator bonding, payments, or could be potentially new experiences (technically, this category also includes business customers that could benefit from enterprise blockchain).
Profit seekers are the retail and institutional investors seeking purely financial gains through exposure to digital assets.
Institutions need a whole ecosystem of prime brokers, custodians, market makers, risk management, analytics, etc.
Institutions need a whole ecosystem of prime brokers, custodians, market makers, risk management, analytics, etc.
Community contributors don’t just hold tokens but are excited about a new future with web3 morals and are immersed in crypto-Twitter with “WAGMI”s and “Probably Nothing”s.
They also participate in ecosystem sustenance through voting or making proposals for protocol governance.
They also participate in ecosystem sustenance through voting or making proposals for protocol governance.
They need tools to discover, create and participate equitably in their communities (could be DAOs), to create internal org structures, and to coordinate with other communities/ businesses.
Core builders refers to the founders, the core team, the investors, actively building web3 applications full-time.
They may be developers but also ecosystem stewards, treasury managers, people evangelists, and all the web2 roles we know.
They may be developers but also ecosystem stewards, treasury managers, people evangelists, and all the web2 roles we know.
They need to learn the ropes, find a gig, and be able to work in a compliant manner with reliable pay and benefits.
The project are the solutions that provide value to all the above end-users.
The project are the solutions that provide value to all the above end-users.
Project need a suitable blockchain to build upon, developer tools that accelerate product build, security systems for audit/ monitoring/ pen testing, and UX enhancement such as through relayering.
Crypto startups raised over $30B last year (5.5x YoY increase) and typically that’s at least 70% for talent spend (across roles; rest can be on txn expenses, advertising, hosting, admin tools).
What happens to crypto talent when there’s a pullback in asset prices?
What happens to crypto talent when there’s a pullback in asset prices?
Developer demand tends to lag price movements as seen in the prior 2017 cycle.
By that inference, developers will continue to pour in to web3 well through 2022 as well, even if asset price moves sideways — this makes sense since projects will look to spend the funding raised.
By that inference, developers will continue to pour in to web3 well through 2022 as well, even if asset price moves sideways — this makes sense since projects will look to spend the funding raised.
Critical to note here is that developers stay put through bear markets presumably due to the costs of switching out and potentially an appreciation for the new style of working.
Web3 presents a totally different development paradigm.
Web3 presents a totally different development paradigm.
And Ethereum is just one of many chains and only 20% of new web3 developers are choosing this ecosystem.
Even outside the top 5 ecosystems (that includes emergent Polkadot, Cosmos, Solana), Terra, ICP, Fantom, and Harmony all 4x’ed their developers in 2021.
Even outside the top 5 ecosystems (that includes emergent Polkadot, Cosmos, Solana), Terra, ICP, Fantom, and Harmony all 4x’ed their developers in 2021.
Each of these chains bring their own development languages and environments, e.g., Solidity for Ethereum/ EVM compatible chains (such as Polygon, Fantom) vs Rust for Solana/ Terra.
Positioning Yourself In Web 3.0
Whether you’re looking to hire Web3 developers for a long-term project or a small gig, knowing where you can find the best talent for this specific set of skills can substantially cut down your search time.
Whether you’re looking to hire Web3 developers for a long-term project or a small gig, knowing where you can find the best talent for this specific set of skills can substantially cut down your search time.
Web3, like cryptocurrency in its early days, is driving impressive innovation.
It’s an excellent opportunity to be a part of the blockchain ecosystem and help formulate the future of the web.
It’s an excellent opportunity to be a part of the blockchain ecosystem and help formulate the future of the web.
Unless you live in a tech hub where you can find talent locally, it’s probably easiest to hire remote developers.
Even while talking about something as cutting edge as Web3, you may find the age-old approach of searching job boards to be quite convenient.
Even while talking about something as cutting edge as Web3, you may find the age-old approach of searching job boards to be quite convenient.
However, you’ll want to choose a job board that’s known for harboring blockchain and crypto developers.
There are several recruitment websites that focus solely on crypto-related jobs. You can increase your chances of finding the right person by looking there.
There are several recruitment websites that focus solely on crypto-related jobs. You can increase your chances of finding the right person by looking there.
Some of the most popular online crypto job boards include Crypto Jobs List, CryptoJobs, and Angel. Other more general job sites include Indeed.
If you enjoyed this,
Please follow me: @Crypto8Fi
for more threads on DeFi, projects and the latest alpha.
I also write on Medium that goes more into depth on DeFi concepts.
@crypto8fi" target="_blank" rel="noopener" onclick="event.stopPropagation()">medium.com
Please follow me: @Crypto8Fi
for more threads on DeFi, projects and the latest alpha.
I also write on Medium that goes more into depth on DeFi concepts.
@crypto8fi" target="_blank" rel="noopener" onclick="event.stopPropagation()">medium.com
Addition:
One of the best resources out there to find your job board created by @Darrenlautf
Good luck sers.
Wagmi.
t.me
One of the best resources out there to find your job board created by @Darrenlautf
Good luck sers.
Wagmi.
t.me
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