The internet is constantly evolving, which brings constant changes in how we live our lives. One huge aspect of our lives is work, and with Web3 right on our doorsteps, the job industry is about to experience some major changes.
In this blog post, we will discuss how Web3 could potentially revolutionize the job market and cause a major shift in the way we work. Keep reading for more information!
Will Web3 Change the Job Industry?
To answer this question, we should understand that Web3 is more than just a new technology – it’s an entirely different way of understanding and approaching what we do on a daily basis. In fact, it’s a philosophy that aims to change how we interact with not only each other but also the systems that control our lives.
As such, I make a prediction that Web3 will change today’s job industry and how we view work in general.
It’s already starting to happen. Take a look at the gig economy for example. People are now more comfortable with the idea of working for themselves, rather than relying on a central figure.
This is just the beginning though. With Web3, we will see a much greater emphasis on freelancing and contract work as people become less reliant on traditional employment models. To get to a truly decentralized job market, however, Web3 technology needs to improve. There are scalability issues, people need to be educated, and most of the current solutions aren’t truly decentralized.
Does Web3 Mean the End for 9-5?
Working 9 to… whenever I like!
We are seeing an increasing number of people leave their 9-5 jobs to have a career and life that is autonomous.
These people want to work on projects that they’re passionate about and that have a real impact on the world. They don’t want to be slaves to the traditional work model, where they are stuck in a job they hate for 40+ hours per week.
As Web3 is about collaboration and decentralization, it will only help to fuel this trend. We’ll see more and more people taking control of their own careers and working on things that they’re truly passionate about.
This is seen in decentralized autonomous organizations (DAOs) that are run by a group of people who share a common goal. With DAOs, there is no need for a central authority figure – the members themselves are in charge. This community-led approach is especially attractive to GenZ, which is known for being more socially conscious and wanting to make a difference in the world.
Calling All Creators!
The Web has always been a great place for creators. While Web1 allowed us to read content, the emergence of Web2 allowed creators to create their own content. Web3 allows creators to OWN their content.
You see, with Web platforms, like YouTube and Facebook, the creator only has a limited share of the revenue. For example, if you create a video that goes viral on YouTube, you might attract 50,000 views, but only receive around $50-100 in ad revenue.
YouTube can also ban your account at any moment. In fact, this has happened to many creators in the past. Even including the word “Covid-19” can get your content flagged and demonetized.
As such, creators need an alternative platform where they have full control of their content and receive appropriate compensation. Even the general public is getting tired of the social media giants, like Facebook, who are censoring our content and abusing our data.
The NFT BOOM!
An example of how Web3 helps creators is the emergence of NFTs (non-fungible tokens). NFTs are digital assets that are unique and cannot be replicated. For example, the Mona Lisa is a unique painting that cannot be replicated. In the same way, each NFT is unique and has its own value.
As these pieces of art are stored on public blockchains, NFTs can be easily verified and tracked. This prevents fraud and makes the ownership of these assets indisputable.
This has started a new artistic movement that empowers artists by giving them full control and ownership of their work. Not only that, but it also allows artists to communicate more directly with their fans and receive immediate feedback.
The New Ways to Earn with Web3
Web3 is not only changing how we work but is also opening up new opportunities for people to earn a living. Play to earn, create to earn, learn to earn, participate to earn, and judge to earn are five new ways to earn from Web3. Let’s learn more:
1. Play to earn
Play to earn is a new way to earn by playing games. For example, you can play a game, such as Alien Worlds, and then receive rewards in the form of tokens for your performance. These tokens can be used to purchase in-game items or exchanged for other cryptocurrencies.
This is a great opportunity for gamers who want to make some extra money and also allows game developers to monetize their games in a more effective way. In fact, these decentralized games become mini economies in their own right, with players being able to earn and spend money within the game.
2. Create to earn
As we talked about earlier, the rise of NFTs has revolutionized the way creators can earn. With NFTs, artists can create digital assets that represent their work and then sell them on decentralized marketplaces.
This allows artists to keep more of the revenue they generate from their work and also eliminates the need for middlemen.
3. Learn to earn
You can now get rewarded for learning about new topics. For example, you can learn about blockchain and then receive tokens for your knowledge. These tokens can be exchanged for other cryptocurrencies or used to purchase products and services.
This is a great way for people to learn about new technologies and get rewarded for their efforts. It also encourages people to continue learning about these new technologies.
This can lead to on-chain resumes, where someone’s learning history is stored on a public ledger that is verifiable and tamper-proof. This could be a great way for employers to assess someone’s skills and knowledge.
4. Participate to earn
You can participate in DAOs, which are Decentralized Autonomous Organizations, to earn rewards. For example, you can vote on proposals and receive rewards for your participation.
DAOs are a great way to participate in the governance of decentralized networks and can be used to make decisions about issues such as budgeting, voting, and marketing.
5. Judge to earn
People can act as decentralized jurors to help resolve disputes. For example, for contributing and judging to a dispute, you can be rewarded with tokens.
This is a great way to help resolve disputes in a more efficient and cost-effective way. A bit like how people trust that Wikipedia is accurate, educated individuals can contribute to the validity of information and be rewarded.
In conclusion, Web3 will change the job industry forever by opening up new opportunities and changing how we approach work.
The most notable change will be how we shift from traditional jobs to a more decentralized model where people are rewarded for playing games, learning about new topics, and participating in DAOs.
So far, Web3 has only scratched the surface of its potential and it will be interesting to see how it evolves in the future. Stay tuned!