Why do some people choose to leave when Web3 becomes the “sweet bun” of capital and big factories?

Web3 is hot out of the circle, attracting the attention of many people, and even some naked words to start a business, but is Web3 really a good medicine? How should we view it correctly?

To this end, we conducted an interview with 3 practitioners in the Web3 field, hoping to see the situation behind this hot phenomenon through these real voices.

In 2018, when the blockchain entered the first cold winter in recent years, not many people talked about the greatness or innovation of this technology. Most of them described its performance as “scam” or “useless”, and even a little like a street rat. The same treatment, so that Web3, which just stood up in China, was directly pressed to the ground and rubbed.

Fast forward to today, 4 years later, Web3 has jumped from a slump to become a hot cake among capital, entrepreneurs and news media. If Web3 4 years ago was a match lit in the dark, So now Web3 is like a flaming torch .

However, in the face of the popularity of Web3, some people go forward one after another, while others detour away. Everything is very similar to Qian Zhongshu’s “Besieged City”. People outside the city are full of curiosity, and people inside the city are full of devastation. But is this really the two sides of things? ?

To this end, we had a chat with a few friends who have made some achievements in the field of Web3, so as to satisfy the curiosity of more people and see what is in the city? Is it really as expected by outsiders?

“I’m fed up with 24 hours of volatility!”

Because Xiaoyu was influenced by the original financial family from a young age, he has developed a strong interest in the field of financial investment since college, so he specialized in asset allocation and learned how to speculate on the K line.

After graduating from college, he worked in an investment bank, a job that hit him very well. At that time, friends were talking about bitcoin, so he could get in touch with bitcoin early.

Because of the returnee, he developed a strong interest in new things such as bitcoin and blockchain. In 2017, he resigned from the investment bank and worked full-time in bitcoin and other transactions.

Maybe it was because of luck, maybe it was because he was born in the financial market. In this emerging market, he was like a duck to water, and he earned tens of millions by relying on hundreds of thousands.

Xiaoyu said, “I felt that sleeping at that time was a waste of time, because the market fluctuated every moment, and sometimes I even had to stay up overnight for one or two consecutive nights.”

Xiaoyu said that at that time not many people were talking about Web3, everyone was a speculative product, and he also changed his original interest in blockchain technology to tracking market popularity.

Why do some people choose to leave when Web3 becomes the "sweet bun" of capital and big factories?

But everyone may know the story later. With the changes in the traditional financial market in 2018, it was quickly transmitted to the Crypto field. Xiaoyu’s asset value declined rapidly in the tangle of “sell and not sell”. In just a few months, it went from Ten million returned to the original point, and even because of a moment of anger, the final principal was not sold, but took a gamble to let them fly with the wind…

Xiaoyu recalled that during that time, he only slept 3-4 hours a day, the rest of the time was in anxiety and mania, and even had to go to a psychiatrist to adjust his sleep through drugs.

At the end of 2018, the unbearable light rain cashed out the remaining tens of thousands of dollars, and then flew to Hainan to rest.

In the spring of 2019, Xiaoyu returned to traditional financial markets, saying, “I’m fed up with 24-hour volatility! At least the stock market has weekends and holidays.”

When I met Xiaoyu this year, he had already become the head of the investment bank. When I asked him about his views on Web3, he said, “Our investment research department has just established a research group in the direction of Web3. I plan to sign up and try, after all, I was also an early participant of Web3.”

Yes, many of the early Crypto players have become builders of what is now the Web3 space.

“Received the coolest job offer in my life”

Sun Xing is a technology developer I met in 2019. In the early years, he was responsible for the development of a product in a large Internet factory. He can be regarded as a veritable “big guy”. The registered users of the products he developed are close to hundreds of millions.

In 2019, he served as the CTO of a Web3 technology company, but later the company team was forced to disband due to the break of the project funding chain. He returned to a local medium-sized technology company as the development leader of a small project, but at this time Sun Xing It has reached the golden age of “programmers”.

In his early thirties, he is faced with daily non-innovative matters, because the project has matured and operated, and there is almost no room for improvement.

Compared with start-up companies, it is indeed a lot less interesting, and the salary is also a lot worse than that of big factories.

However, facing the pressure of family expenses and the career peaks that his peers ushered in, Sun Xing fell into a long thought, whether to maintain the status quo or go to a new field?

In 2022, Sun Xing suddenly saw the upsurge of the Web3 boom, and some areas that were once undervalued became the sweet buns chased by capital again. He suddenly felt that he should do something.

In June of this year, he was having dinner, when a strange phone call came, and the other party said, “Is it Mr. Sun Xing, I’m a headhunter of X company, we have a Web3 company that lacks a product manager, we are in I saw your previous experience on the website, I wonder if you are interested?…”

After another month, when we met Sun Xing again, he showed us this interesting picture below.

Why do some people choose to leave when Web3 becomes the "sweet bun" of capital and big factories?

He said excitedly, “This is the coolest job offer I’ve ever received in my life. It’s like the original Web3. This physical offer is inlaid with a unique pendant with an employee number and a luminous glow. The material symbolizes that Web3 explorers can shine even in the dark.”

Later, we learned that the person who called him at that time was the contact person in charge of the “OKX 2022 enrollment expansion plan”. Because of Sun Xing’s experience in 2019, he was discovered by a headhunter on LinkedIn and successfully became a product line of this company. principal.

A few days ago, another friend reported that he had never seen Sun Xing so excited since 2019, and he was still looking for him to discuss technical issues on weekends, like a different person.

I don’t know if Web3 has such magic, but Sun Xing made me see the other side of the Internet development: it seems that it is not just boring .

“Web3 is too far away, I’ll wait”

The last friend is a former colleague of a friend. His surname is “Gou”, and his friends call him “Big Dog”. He is in charge of the operation of a digital collection company. He was originally the operation director of a technology unicorn company. , and later joined the Web3 camp in 2021 at the instigation of friends.

The big dog who belongs to the standard post-95 generation will always have all kinds of novel ideas, so in front of new things such as digital collections, they are full of all kinds of curiosity.

The collection platform he is in charge of has been launched since the beginning of 2021, and has grown from zero to hundreds of thousands of users in just half a year, becoming a well-known digital collection platform in China. He is often invited to attend major summits. According to what he said “I always have a feeling of sudden fame.”

In fact, as the scale of the overseas NFT market exceeded 10 billion US dollars last year, domestic digital collections have also ushered in a period of rapid development. The works of some well-known copyright companies have risen from dozens of pieces to several thousand yuan per piece, which has attracted many people. Many people participate in the hype.

Of course, this has also attracted the attention of regulators. In April this year, the China Internet Finance Association, China Banking Association, and China Securities Association issued an initiative on preventing NFT-related financial risks. The initiative aims to prohibit the hype of digital collections, and Warning the major digital platforms.

Big Dog said that it was not the initiative that really brought the “cold winter” to the digital Tibetan platform, but that with the huge drop in the value of overseas NFTs, the domestic digital Tibetan platform declined in response .

According to overseas data, the floor price of the well-known NFT avatar BAYC (the lowest price in the market) has plummeted from a maximum of $420,000 to $110,000.

Why do some people choose to leave when Web3 becomes the "sweet bun" of capital and big factories?

As of last month, the number of active users of the Tibetan digital platform operated by Dagou has dropped to a few hundred, a serious decline from the highest of nearly 10,000. He said that the company has planned to downsize staff next month, and I am also preparing to leave the Web3 industry for a period of time. I plan to take a break and then plan.

“Web3 is still too far away, I’ll wait, a Web2 Internet company is looking for me to do their new product operation recently, it seems to be related to VR, I’m quite interested,” Big Dog said to us .

The author doesn’t know if Big Dog will go to that VR company in the end, but if so, he seems to have just crossed over from Web3 to the Metaverse, which is still a “relative relationship”.

When we talk to those who are preparing or have left Web3, we will find that in fact, everyone is still in the “besieged city”, but some people have changed their way, and some people are still firmly marching in the direction of Web3. For this reason , we began to explore the development of Web3 .

How hot is Web3?

First of all, from the Baidu index, “Web3” really started to exert its strength in early May of this year. Its search volume rose directly from the almost “floor” position before and came to a position close to 2,500. From personal experience, the trend of domestic Web3 really started around April-May, which is basically in line with reality.

Why do some people choose to leave when Web3 becomes the "sweet bun" of capital and big factories?

When we replace the search trend with Google, the logic of its change on a global scale seems to be very different from that in China. From the perspective of the turning point, the time for a larger increase is probably at the end of 2021, followed by a slight decline until Similarly, it rose again around April this year, which is basically coupled with the domestic market.

Why do some people choose to leave when Web3 becomes the "sweet bun" of capital and big factories?

Of course, some readers will wonder why there is such a difference. This starts with the blockchain itself. We know that some public blockchains are not respected in China due to some special features, but they develop overseas instead. It is relatively smooth, so from the perspective of development logic, the application of Web3 to the blockchain is also transmitted from overseas.

Because of this, as early as last year, we saw some overseas technology giants begin to deploy the Web3 field, including Google, Amazon, Netflix, eBay and so on.

On the other hand, in China, most of the concept of Web3 mentioned by technology giants has only started this year, which is also corroborated by the search trend.

Of course, most of the domestic companies’ deployment of Web3 is overseas. For example, TikTok has deployed NFT overseas, and Tencent has invested in the Web3 game company Immutable. Of course, Ali’s exploration in the direction of data can also be attributed to the direction of Web3.

At the same time, pure Web3 investment institutions are also accelerating their deployment. Paradigm is seeking to raise $1.5 billion for Web3 direction, and a16z has raised $4.5 billion for its fourth Crypto fund.

As Benson, a partner at OKX Blockdream Ventures, said, the investment layout of OKX Blockdream Ventures will not be affected by the market cycle, and will continue to empower blockchain projects, so we see more and more institutions are adding weight to the Web3 direction .

In addition, some medium and large Internet companies have started to reduce personnel recently, and many developers or operators from Web2 Internet companies have joined the attention camp of Web3. After all, when the pattern of Web2 has taken shape, Web3 is still an unexplored new world. It seems more worthwhile for people to chase again, so this has also brought a series of changes in the layout of talents.

What exactly are those talents doing construction in the field of Web3?

According to incomplete statistics, in the first quarter of 2022, Web3 startups have received more than $173 million in investment.

This year, more than 15 venture capital institutions have launched Web3 special funds, with a scale of more than 4 billion US dollars, and 89% of Fortune 500 executives believe that Web3 innovation in the next ten years will determine business activities in the next 100 years.

It is against this background that the “2022 Global Blockchain Talent Report – Web3.0 Direction” jointly launched by the world-renowned recruitment platform LinkedIn and OKX shows that as of June 2022 , the total number of people working in the blockchain field among LinkedIn global members has increased by 76% year-on-year, and the United States, India, and China are among the top three blockchain talent countries in the world.

Why do some people choose to leave when Web3 becomes the "sweet bun" of capital and big factories?

It is worth noting that among the top ten blockchain talent countries, the number of blockchain job postings in the United States, China, India, the United Kingdom, Singapore, Canada and other countries will increase exponentially in 2021. This is our direction from the entrepreneurial team. Clues can also be seen.

Why do some people choose to leave when Web3 becomes the "sweet bun" of capital and big factories?

Therefore, from the perspective of talent growth rate and talent demand, Web3 has indeed undergone earth-shaking changes in the past year. At the same time, the report shows that the global blockchain talent demand for technical talents is still high, but the talent gap continues to increase. Why are so many people willing to flood into the Web3 space because they see an opportunity.

But on the other hand, as the human resources director of OKX said in the report, “The number of job applicants for Web 3.0 worldwide in April 2022 was 18.8k, and it was 18.9k in May, and the number has increased.

At present, there are many talents on the market, but there are not many people specializing in the direction of blockchain or Web3.0. Professional development talents are still in short supply, and design talents with good aesthetics and Crypto product thinking are scarce. “

As one of the veterans and leaders of the Web3 industry, Ouyi has carried out a multi-faceted layout in products, including DEX, NFT market and various Dapp applications.

It can be said that they have their own unique understanding of the Web3 industry, so even when other companies start laying off employees, they have launched the “OKX 2022 recruitment expansion plan”. The total number of its team will reach 5,000 people, therefore, it has attracted many Internet talents to join.

From the specific flow situation, in addition to the influx of talents from financial companies and technology companies into the blockchain industry, for example, traditional financial companies such as Goldman Sachs, JPMorgan, and HSBS, as well as technology companies such as Google, Microsoft, and Facebook .

At the same time, the global blockchain field has the largest group of bachelors, accounting for 59%, and masters, accounting for 40%, and the overall academic qualifications are relatively high.

Perhaps such real recruitment data tells us that the Web3 industry is still in the early stage of development, and the industry still lacks real builders, which is why talents like Xiaoyu, Sun Xing and Dagou will enter the Web3 field, even if they are in a state of collapse. edge, but still full of interest.

Should we look forward to Web3?

Finally, the author briefly talks about whether we should have more expectations for Web3.

First of all, from the historical process, Web2 has developed into a bottleneck period. Whether it is investment and financing, or for entrepreneurs, it is difficult for us to find a good target or entrepreneurial direction in the field of Web2. Therefore, everyone is looking for The next uncultivated wasteland is also an important reason why Web3 is out of the circle.

Secondly, from the user’s point of view, they have higher and higher requirements for privacy, the current Web2 products have been criticized by the public, especially giants like Meta, people are tired of its privacy protection issues, and looking for Web3 solutions has become a choice for many users.

Why do some people choose to leave when Web3 becomes the "sweet bun" of capital and big factories?

Finally, about the direction of talents, as we said in the article, even if some talents leave the Web3 field for more or less reasons, they will always meet it again in another way, just like the traditional enterprises shouted 10 years ago. Just like not entering the Internet, there are still several companies who dare to say that, and there is already a certain number of things.

Therefore, regarding Web3, the author believes that it is not a “besieged city”, but a real gathering place of rivers. Even if we don’t think about it for a while, as more and more ocean currents converge, it will eventually form a torrent. , even if he insists on “not entering the city”, he will eventually meet him, sooner or later .

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/why-do-some-people-choose-to-leave-when-web3-becomes-the-sweet-bun-of-capital-and-big-factories/
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