The ongoing crypto winter has seen cut budgets and jobs, but the search for top talent hasn’t stopped in several Web3 verticals, according to some crypto recruiting firms.
Speaking to Cointelegraph, Kevin Gibson, founder of crypto recruitment firm Proof of Search, said the majority of staff cuts in the crypto market came from centralized exchanges, including the 18% staff cut. at Coinbase in June, 10% at Gemini. in July and the 5% discount at Crypto.com.
Despite this, he said there is “still a lot of demand” for crypto job seekers to work with “GameFi, Metaverse, decentralized finance and NFT-oriented companies.”
Gibson explained that crypto job boards continue to be dominated by developer and engineer roles, adding that there is also “a shortage of experienced CTO, CMO and token experts.” .
Despite all this, several of our recruiting partners are still looking for devs: Rust, Solidity, React, NodeJS…
✉️ DMs are open! #hiring
— CryptoCareers | Hiring Web3 Developers (@_cryptocareers) June 14, 2022
Gibson added that venture capitalists have continued to deploy capital “into companies with strong business models that have seen sustained hiring activity despite market fluctuations.”
These claims appear to be backed up by a recent report from crypto analytics firm Messari, which showed that $30.3 billion was poured into crypto companies in the first half of 2022, more than 2021. While the Web3 and non-fungible token (NFT) projects captured $8.6 billion of the total amount invested in the period.
CryptoRecruit founder Neil Dundon told Cointelegraph that the majority he saw came from “non-core areas”.
Dundon said, however, that in the short to medium term, the crypto labor market “will remain relatively stagnant for the time being until we get confirmation that we have exited the bear market,” although there is still many “great opportunities” there. for crypto companies and job seekers.
Related: How to start a career in crypto? A beginner’s guide to 2022
But, bear market or not, Dundon said a crypto firm’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 attribute to have to enter this space is a start-up mentality. The ability to roll with the punches when things get a little tougher or the direction of the business changes. Building new things is not for the faint hearted.
Some of the largest publicly traded companies in the world also poured money into the crypto market in 2022. According to BlockData, Google, Samsung, Microsoft, PayPal, Morgan Stanley and Goldman Sachs are among the companies that participated in rounds. of financing.