Last weekend, I completed a live class, the “First Lesson on Transitioning to Web3 Development”. Over the next few days, the content of this first class was split and re-recorded into 7 shorter videos, which were then released on various platforms such as Bilibili, Video Number, Douyin, and Zhihu.
The videos on Bilibili are accompanied by subtitles, while those on other platforms are not. For those who prefer to watch on Bilibili, you can search for “First Lesson on Transitioning to Web3 Development” to find the video course, or simply search for my name, “Keegan小钢”.
Currently, two text and image versions of the video have been released:
01 | Self-introduction
02 | What is Web3
【Why Transition to Web3】Text and Image Version
Hello, I’m “Keegan小钢”, and we’re continuing with the “First Lesson on Transitioning to Web3 Development”. In this section, we’re going to discuss why we should transition to Web3. I’d like to talk about this issue from both subjective and objective perspectives.
First, let’s look at the subjective reasons.
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Subjectively, first of all, many people feel that Web2 is too intense, so much so that it’s unbearable, but there are many less intense jobs in Web3. This is the first reason – not liking things that are too intense.
Secondly, because there are many remote work opportunities in Web3, the freedom and comfort that come with remote work naturally attract many people. For example, many people envy the life of digital nomads, and Web3’s remote work opportunities can allow you to live the life of a digital nomad.
Thirdly, as with any emerging industry, there are naturally more opportunities for development in Web3. As a new industry, Web3 also presents more development opportunities.
Finally, and most importantly, what attracts the majority of people is that Web3 can provide more opportunities to earn money, not just high-paying job opportunities, but also other opportunities to make money.
These are the main subjective reasons.
Next, let’s look at a few objective reasons. Of course, there are definitely more than these, but here I’m only listing a few that I consider important.
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First, the demand for Web3 developers is continuously increasing.
Last year, OKX and LinkedIn jointly released a “2022 Global Blockchain Talent Report – Web3.0 Direction”. We don’t need to read the whole thing, just take a look at the summary of the report.
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Firstly, the growth of global blockchain talent is strong, but the growth rate of talent in China is relatively low. The total number of blockchain talents in the world has increased by 76% year-on-year, meaning that there has been a 76% increase in new blockchain talents worldwide compared to the previous year. The United States, India, and China are the top three countries for blockchain talents. However, the growth rate of talents in China is relatively low, at only 12%. This means that China’s new talent only accounts for 12% of the global growth of 76%, indicating a significant gap.
Furthermore, the demand for talents in China has grown by as much as 60% year-on-year. The growth rate of talent demand, which is the demand for positions that need to be filled, is as high as 60%, but the actual growth rate of talent is only 12%, indicating that the growth rate of talent in China is far lower than the growth rate of talent demand. This means that the demand for Web3 talent is much greater than the supply.
In addition, the core talent demand is shifting from finance-oriented to technical talent. The proportion of financial talent in the global blockchain field is the highest, and the position of test engineers has the highest growth rate, but the gap in the demand for technical talent is the largest.
OK, we’ll just look at these two summary points. From this, we already know that the demand for Web3 developers is actually quite large and continuously increasing. This is the first point.
Secondly, because the Web3 developer community is very small, even for the hottest Ethereum, there are less than 8,000 active developers per month, much lower than the tens of thousands of development positions at traditional tech companies. In contrast, over 75% of developers are still struggling to meet the needs of the thousands of active projects in Web3, with major players expanding and startups emerging, and traditional institutions also want a piece of the pie, so the employment space in Web3 is enormous.
Moreover, in the Web3 field, there are very few traders and investors who truly understand the technical details, most of them participate with an investment mindset. However, most Web3 projects are based on a technical business model, so by learning Web3 development, one can better understand and evaluate the value of Web3 projects, helping developers become better investors or traders in the market, in other words, guiding investment trading.
Some people may think that developers and investment traders belong to two different categories and do not intersect. However, in the Web3 field, many developers also frequently trade. In the Web2 field, many developers also invest in stocks, such as Nvidia, Tesla, Google, Tencent, and Alibaba. The same applies to Web3 developers trading coins.
The entrepreneurial space is vast because the open-source nature of blockchain technology allows developers to become 100% individual entrepreneurs. By testing and verifying established programs through practical experience, and developing, testing, and deploying solutions, new applications can be developed. At the same time, this also ensures that centralized tech giants and global developers are on the same starting line, engaging in relatively fair competition. In other words, Web3 entrepreneurs will no longer be victims of the “innovation hunting” of tech giants.
Lastly, the high salary levels. Before the industry’s boom, developers will become the objects of competition for many companies, but the number of experts in the field is relatively small. In the current situation of supply being unable to meet demand, Web3 development will be highly sought after. According to the latest data from the web3.career website, the average annual salary for Web3 developers is between $140,000 and $200,000, or 1 million to 1.45 million RMB. Even for junior engineers, the average annual salary is $80,000, or roughly 600,000 RMB. How many Web2 developers have an annual salary of 1 million?
This time, we’ll mainly look at these two pieces of data.
These are the main reasons why many people are considering transitioning to Web3.