- Budgets and jobs have been affected by crypto winter.
- There’s no decrease in the popularity of metaverse and NFT job market.
- Most of the layoffs in the crypto market have happened in the centralized exchanges.
According to Kevin Gibson, the reason behind most of the staff cuts in the crypto market have resulted from centralized exchanges. Coinbase cut 18% of its staff in June, Gemini reduced it by 10% in July and Crypto.com reduced the staff by 5%.
Even with such percentages, there’s been no decline in the demand for crypto job seekers to work in the metaverse, GameFi, decentralized finance and NFT firms.
Gibson shared that crypto jobs are ruled by developer and engineer roles. Moreover, there’s an ongoing shortage of professional CMO, CTO and token experts.
🚨Unfortunately several crypto exchanges announced big layoffs recently:— CryptoCareers | Hiring Web3 Developers (@_cryptocareers) June 14, 2022
– @coinbase 18%
– @Gemini 10%
– @cryptocom 5%
– @BlockFi 20%
Despite all this several of our hiring partners are still looking for devs: Rust, Solidity, React, NodeJS…
✉️ DMs are open! #hiring
Based on a report from Messari, $30.3 billion was poured into crypto firms in H1 2022. Talking about web3 and NFT projects, they accumulated $8.6 billion of the entire amount invested during the period.
Neil Dundon, founder of CryptoRecruit, said that during the short to medium term, the crypto job market will be static until it is confirmed that the bear market has ended even though there are many opportunities for job seekers and crypto firms.
Crypto is in its early stage and to enter this space, a startup mentality is a must. It is important to smoothly sail through the hard times when things turn complicated or the direction of the company changes.
This year, a number of world’s biggest publicly traded companies have invested in the crypto market. A few examples of such companies are Samsung, PayPal, Google and Microsoft.