Crypto winter? The DeFi, Metaverse and NFT job market remains hot – recruiters

by · August 31, 2022

The ongoing crypto winter has seen budgets and jobs cut, but the search for top-level talent hasn’t stopped across multiple Web3 verticals, according to some crypto recruiting firms.

Kevin Gibson, founder of crypto recruiting firm Proof of Search, told Cointelegraph that the majority of staff cuts in the crypto market have been from centralized exchanges, notably the 18% of staff at Coinbase in June, the 10% cut at Gemini in July, and the 5% cut at Crypto .com.

Despite this, he said there is “still high demand” for crypto job seekers to work with “Game-Fi, Metaverse, De-Fi and NFT-oriented companies.”

Gibson explained that crypto job boards continue to be dominated by developer and engineering roles, adding that there is also a “lack of experienced CTOs, CMOs and token experts.”

Gibson added that venture capital firms have continued to deploy capital “to companies with solid business models that have had sustained hiring activity despite market fluctuations.”

These claims appear to be supported by a recent report from crypto analytics firm Messari, which showed that $30.3 billion was poured into crypto companies in H1 2022, which was more than 2021. While Web3 and NFT projects captured 8.6 billion dollars of the total amount invested in the period.

CryptoRecruit founder Neil Dundon told Cointelegraph that the majority he had seen came from “non-essential areas.”

However, Dundon said in the short to medium term, the crypto job market will “remain relatively stagnant until we get confirmation that we’ve exited the bear market,” despite the fact that there are still plenty of “good opportunities” out there for both crypto companies and job seekers.

Related: How to start a career in crypto? A beginner’s guide for 2022

But bear market or not, Dundon said a crypto company’s ability to adapt to changing circumstances will go a long way toward success in this market.

“Crypto is still a nascent industry, the most important quality to have when entering this space is a startup mentality. The ability to roll with the punches when things get a little tougher or the direction of the company changes. Building new things is not for the faint of heart. »

Some of the world’s largest listed companies have also poured funds into the crypto market in 2022. According to BlockData, Google, Samsung, Microsoft, PayPal, Morgan Stanley and Goldman Sachs are among some of the companies that have participated in funding rounds.