November 2, 2022
By Anjali Kochhar
Non-fungible tokens or NFTs has been a buzzword in 2022. Not only it created a trend, but also job roles for those interested in the Web3 space. Globally, NFT jobs has seen a surge this year and the coming year is expected to see an even more increase, experts foresee.
A report released by GlobalData, a leading data and analytics company, the number of jobs posted related to non-fungible tokens (NFTs) has increased since December 2021.
GlobalData’s Jobs Analytics database reveals that, for over 300 companies tracked during the last two quarters, NFT-related jobs open for application (active jobs) increased by 127%, from 172 in December 2021 to 390 in March 2022. The job roles were focused around developing NFT online stores and digital assets.
The database identified NFT-related job roles. For example, Reddit is developing digital tools for users to create and sell their own NFTs on its platform. Its ‘Group Product Manager of Future NFT Marketplace’ looks to train product managers on go-to-market strategies, for increased product adoption and engagement.
Kraken Bitcoin Exchange is hiring its engineering team to build and launch an NFT marketplace, to leverage assets for services such as NFT-backed loans.
Accenture is exploring multiparty systems involving blockchain, protecting sensitive financial information (tokenization), and NFTs to help clients with technology solutions. Gameloft is hiring blockchain developers to build NFT games.
NFTs are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other.
These digital assets have gained immense popularity among netizens. From individuals to brands, everyone loves the several real-world use cases of NFTs. Even though the market seems down, the craze for investing in NFTs is not going anywhere soon, say the experts.
Several leading brands have led the way as early adopters of this technology. Everyone seems to be jumping on the NFT bandwagon, from NBA basketball collectibles to real estate to artists. To create a flourishing NFT ecosystem, the presence of talent producing these valuable digital assets is required.
According to a Grand View Research, Inc. report, the global non-fungible token market is expected to reach USD 211.72 billion by 2030, growing at a CAGR of 33.9% from 2022 to 2030. Since the adoption of Web3 and NFTs is increasing rapidly, new employment opportunities will be created for Blockchain developers, UI/UX engineers, designers, community managers, and creators/influencers.
Prayag Singh, Co-founder, SOCLLY, a decentralized social network says, “The world is banding together to create a regulatory framework for cryptocurrency and NFTs. It isn’t going to be a quick process. It will take time for all countries worldwide to develop a proper regulatory and taxation framework, but this will not halt the adoption and development of Web3, NFTs, and their use cases.”
Tarusha Mittal, COO and cofounder of UniFarm, a group staking platform says, “I think the global NFT market is way ahead of India right now as major brands like Mcdonald’s and Nike among others are deploying NFTs for their marketing campaigns, brand merchandise, and rewarding customers for their loyalty.”
“Since NFT is a global phenomenon and we can expect a collaborative global NFT community contributing towards the mass adoption of NFT-related products and services. The process of mass adoption of NFTs will generate massive employment opportunities for our youth and give rise to remote first companies across the globe. It is a wrong notion that only tech folks can get and find their place in Web3. Niche agnostic job opportunities are also coming up into the sector, she adds.
Poorvi Sachar, Head of Operations, Tezos India, believes that in the Web3/NFT industry, there will be multiple roles that we can expect in 2023 ranging from technical to non-technical, wherein there will be a need for experts who understand programming languages, cryptography, and data structures.
“From being Blockchain engineers, Blockchain architects, smart contract writers, Blockchain product managers and Blockchain consultants, one could opt for non-technical roles such as Content manager, Business development manager, HR, Marketing manager or supporting developer,” she says.
Noting that sports and fashion companies have already leveraged the cultural and economic benefits of the asset class, Anurag Dixit, Founder, Kunji, says that the year 2023 will see jobs like NFT artists, utility programmers, and marketers will be the initial ones to emerge in decent numbers.
Additionally, in the broader metaverse ecosystem, roles like programmers, project managers, designers, and directors can be seen to boom in the coming times, he adds.
Mallika Noorani, Senior Partner, Parinam Law, says, “I expect to see companies and brands increasing focus and spending on creating and marketing of NFTs. They will need to therefore staff jobs around minting NFTs which would require experts on the blockchain. NFT artists/ designers would also become a coveted talent. They would need digital marketing experts with insight on NFTs and their utility.”
According to Noorani, brands would also look at building a community around their buyers, and community managers would take on an important role in leading this effort. Since NFTs will be sold and traded on a marketplace model, she also expects to see an increase in demand for marketplace managers.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.