Last weekend, I completed a live course called “Transition to Web3 Development Lesson 1”. In the following days, I divided the content of this first lesson and re-recorded it into 7 shorter videos, which were released on platforms such as Bilibili, Video Number, Douyin, and Zhihu.
Bilibili has subtitles, while other platforms do not. If you enjoy watching on Bilibili, you can search for “Transition to Web3 Development Lesson 1” to find this video course, or you can directly search for my name, “Keegan Xiaogang”.
The following is the text and image version of the sixth article, and here are the links to the previous five articles:
01 | Self Introduction
02 | What is Web3
03 | Why Transition to Web3
04 | Opportunities for Ordinary People
05 | Web3 Architecture
For friends who prefer video, you can also watch my video version:
Keegan Xiaogang
[The Current Status and Trends of Web3] Text and Image Version
Hello, I’m “Keegan Xiaogang”, and we continue with “Transition to Web3 Development Lesson 1”. In this section, let’s talk about the current status and trends of Web3. Last year, I also published a lengthy article on this topic called “A Lengthy Article on the Current Status and Trends of Web3”. The article is quite long and contains a lot of content, but it is very informative. If you haven’t read it yet, I strongly recommend you to take a look. Today, I will mainly highlight some important points and combine them with some latest data for a brief overview.
First, let’s take a look at the search popularity of Web3. We can check the latest data from Google Trends by searching for the keyword “Web3” and viewing the global data for the past 5 years. The results are as follows:
[Image]
The search popularity has been on a sharp rise since the last bull market, starting in 2021. Although there has been some decline since then, it is still at a relatively high level of search popularity, currently around 75%.
However, it is worth noting that the highest search popularity is in China, which indicates that China is still the largest potential market for Web3.
[Image]
These are some of the information we can see from the search popularity.
Let’s not look at market value. Let’s look at the user base of Web3.
Regarding the user base of Web3, I would like to show you some data from a report by a16z. Last year, a16z released a report with data up to the end of 2022. Let’s focus on the following chart:
[Image]
The bottom left corner shows the data sources that were included in the statistics, which basically cover most of the Web3 users. Therefore, this data is relatively close to the actual user base of Web3. It shows the user base in two dimensions: monthly transactional users, which is approximately 20 million, and annual transactional users, which is approximately 120 million.
Then, compared with Internet user data, the data shows that this period is similar to the Internet in 1996. This means that the current stage is still at a very early stage, so there are still many opportunities.
According to this model, it is estimated that the user base of Web3 will reach 1 billion by 2031.
Let’s take a look at some other data, such as the user base of exchanges Coinbase and Binance, which can also serve as references. Because exchanges have KYC (Know Your Customer), their user base is verified. Coinbase had over 100 million users in the second quarter of 2022. Binance’s founder, Changpeng Zhao, disclosed in July 2022 that their user base exceeded 120 million. The latest data is that Binance recently announced that its user base has exceeded 200 million. This indicates that the current actual user base of Web3 is probably around 200 million.
[Image]
Binance’s user base has grown from 100 million in 2022 to 200 million now, in just two years, which also indicates the rapid growth of Web3’s user base.
Next, let’s talk about the current status and trends of talent. As I mentioned when discussing “Why Transition to Web3”, the global blockchain talent pool has grown by 76% compared to the previous year. The United States, India, and China are the top three countries with blockchain talent. However, the growth rate of talent in China is relatively low, only 12%, while the demand for talent in China has increased by 60%. The demand for core talent has shifted from finance-oriented to technical talent. Financial talent accounts for the highest proportion in the global blockchain field, and the testing engineer position has the highest growth rate. The gap in demand for technical talent is the largest.
From the composition of talent, the top five types of Web3 talent are finance, research and development, business development, information technology, and sales. In terms of job postings, the most in-demand talent is in the research and development category. This is mainly because the Web3 industry is still in its early stages, and a large amount of infrastructure needs to be built. Moreover, the Web3 industry itself is highly technical and relies heavily on technical talent.
This is the situation regarding talent.
In terms of salary, as I mentioned before, the average annual salary for Web3 developers is between $140,000 and $200,000, which is approximately 1 million to 1.45 million RMB. Even for junior engineers, the average annual salary is around $80,000, which is approximately 600,000 RMB. This is the latest data from web3.career. When I checked last year, the average annual salary was only between $100,000 and $187,000, and now it is between $140,000 and $200,000, indicating an increase in salary levels.
In terms of geographical location, the highest salary level is in North America. The latest data shows that the average annual salary in North America has reached $150,000, while the second highest is remote positions, reaching $127,000. In the data I checked last year, the average annual salary in North America was $120,000, and the average annual salary for remote positions was $110,000. It is clear that the salary level has increased.
This is the situation regarding salary levels.
In summary, the scale of Web3 talent is rapidly expanding, especially the demand gap for research and development talent is very large. More and more Web2 developers are seeking to transition to the Web3 industry. This is the current situation regarding talent.
As for the current status and trends of mainstream tracks, I won’t go into detail here. If you are interested, you can search and read my lengthy article on the current status and trends of Web3.
This is all about the current status and trends of Web3.
Tags:
Keegan Xiaogang
WEB3
Note: The opinions expressed in the article do not constitute investment advice.
Original article link: https://www.bitpush.news/articles/6911362
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