- Crypto markets seem to be still riding the bear market wave.
- The ongoing crypto winter saw several large crypto firms lay off hundreds of employees.
- Amid all this, the hunt for the top crypto talent is still hot.
In a recent interview, Kevin Gibson, the founder of crypto recruiting firm Proof of Search, highlighted that centralized exchanges were primarily doing the job cuts amid the bear market. He added that despite this situation, there was still great demand for crypto job seekers.
The crypto winter has proven to be extremely difficult for several crypto firms. Several firms struggled to stay afloat financially. Consequently, companies laid off employees, and firms started restructuring their budgets and finances.
The prolonged bear market and the fall of the Terra ecosystem caused multiple crypto firms, including Crypto.com, Coinbase, Gemini, and others, to lay off several employees. But many crypto recruitment firms state that the web3 talent hunt across varied tiers of the industry is running full-fledged.
According to analysts, several crypto firms are looking for developers even amid the layoffs by several firms. Speaking on the topic, Gibson was cited saying:
There is still a great deal of demand for crypto job seekers to get work with Game-Fi, Metaverse, De-Fi, and NFT-oriented companies.
Gibson stressed that the hunt for developers and engineers is staying at the top with an availability for experienced Chief Marketing Officers (CMOs), Chief Technology Officers (CTOs), and token experts.Gibson followed by saying that despite market swings, venture capital firms have kept investing money in businesses with substantial business propositions.
To support the claims of the recent talent hunt, a report from analytics firm Messari reveals that H1 2022 witnessed a $30.3 billion fund pouring in by crypto firms. This is comparatively higher than the amount of funding in 2021.
The increasing search for web3 talent can be attributed to the vision of crypto startups and their strength to break through the bear market despite the price crashes and other deteriorating factors.