2/3rds open to a Web3 career for its potential and flexibility: Survey
Journey into Web3, a report by KuCoin, reveals that the youth finds the Web3 space a promising and satisfying career choice
By Shashank Bhardwaj
According to a recent survey report by crypto exchange KuCoin, based out of Seychelles, Web3 enthusiasts who haven't worked in the sector are particularly keen to investigate prospects in the blockchain realm. The survey participants indicated the industry's luring traits being the growth potential, versatility, and the upcoming outlook for the developing Web3 world.
Journey Into Web3: A Global Study on the Future of Work, the report by KuCoin, reveals how individuals feel about working on Web3 and their participation in it. In the study, researchers discovered that 64 percent of their surveyed candidates, which included 3,608 online users from Twitter and LinkedIn, were interested in charting a career route in the Web3 domain.
The report stated the fragmentation of the surveyed candidates as follows, "The respondents included 591 self-identifying Web3 professionals who have worked in Web3-related industries, including crypto, metaverse, NFT, DAO, DeFi, dApp development, and blockchain-based gaming, whether full-time, part-time, or freelance, and 1,940 self-identifying Web3 enthusiasts who are very or somewhat interested in working in Web3-related industries, and 1,077 self-identifying Web3 Skeptics who are not sure or not interested in working in Web3."
The researchers measured interest in Web3 employment options and examined what draws people to careers in the field. Survey respondents who were asked what they found appealing about Web3 professions mentioned perks like the potential for advancement, innovation, and work freedom.
The report further elucidated the demographics as follows, "59 percent of surveyed professionals who have worked in Web3-related industries are under the age of 30.53 percent of surveyed professionals are pleased with their Web3 careers, recognising the benefits such as space for growth and innovation as well as work flexibility."
Most respondents said they are satisfied with their careers in the Web3 industry. The promising prognosis for the sector appears to be one of the factors driving interest in the field. As per a forecast released by the Boston Consulting Group on July 22, there will be around 1 billion people in the crypto community by the year 2030, demonstrative of the fact that, in terms of the trend of internet adoption, the Web3 sector is still in its infancy. In June, an investment business also investigated the millennial generation's investing preferences.
According to a survey conducted in the United States, more millennials have invested in crypto assets than mutual funds, evincing that this younger group of investors is more receptive to novel investment opportunities. Also, Emergen Research estimated that the size of the worldwide Web3 market was $3.2 billion in 2021 and is projected to be $81.5 billion in 2030.
The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash