Corporate World Indebted To Crypto Industry
Anybody in the corporate commercial world can curse crypto but the truth is the crypto industry has favored this world to a large extent.
For instance, the crypto industry has lessened the burden of the corporate world by establishing a new source of income generation for a variety of experts.
Despite that corporate commercial world resorted to layoff but on the other hand, the crypto industry offered more than 80,000 jobs in 2022 alone.
At least, crypto could be appreciated because of its capability of offering people a source of income for their livelihood.
Unpredicted Failure of Prominent Projects
However, the crypto market has been weakened because of various factors. These factors include amongst others occurrence of the crypto winter season and the collapses of Terra Luna in May and FTX in November.
Primarily the fall of Luna and FTX would severely impact the headcount in the industry.
Yet, the potential decrease in the headcounts in the crypto industry is nothing compared to the corporate world. In the past two months alone, the corporate sector in the US sent more than 3,700 employees homes.
The worst part of layoffs is that it significantly affects the morale as well as the work ethics of an employee. This is so true because a number of corporate giants failed because their employees were working under the fear of layoffs.
Crypto Industry Continues Creating and Offering Fresh Jobs
On the contrary, the crypto industry is continuing its struggle in creating more jobs and house fresh employees. The job sector in the industry is thriving and attracting highly competent experts, technicians, and another workforce.
In this connection, a report has been compiled by Block Research, an independent project associated with the blockchain and crypto industry.
Block Research’s report notes that in 2022 alone, the industry housed approximately 82,200 fresh employees.
The report also suggests that the headcount taken into the industry this year is 351% more than those employed in 2019. In 2019, the industry offered approximately 18,200 jobs.
While the digital asset industry was thriving, it was simultaneously creating a number of jobs for a variety of job seekers.
50% of Fresh Lot Was Offered Jobs by Crypto Trading Platforms
The industry established full-grown ten main branches in which thousands of fresh employees were employed.
These branches comprised blockchain, Metaverse, Infotech, NFTs, DeFi, Web3, hardware/software development, crypto mining, and trading, data compiling and analysis, etc.
According to Block Research’s report, almost half of the fresh workforce was employed by crypto trading platforms and exchanges.
Approximately, 41,136 individuals out of 82,200 were offered different job profiles at new and old crypto exchanges.
Another blockchain company, hailing from Singapore namely TripleA also provided the data pertaining to crypto owners across the world.
TripleA’s data shows that globally about 4.2% of the world’s population (i.e. over 320 million people) own one or more cryptocurrencies.
Crypto Markets Filling the Vacuum
It has been proven from various studies that when the number of consumers rises in industry and so is the new job opportunities. This is exactly the same situation with the crypto industry.
Crypto ownership at the global level has increased extraordinarily over the past few years and hence the number of job openings.
Most importantly, the industry is expanding against the odds and it is certain that more jobs will be offered in the future.
GDA Capital has published an article in which it revealed that job openings in the crypto industry were accelerated in 2017. The article further notes that the process was initiated by a global crypto economy surge in 2017.
Job Stats in Different Sectors of Crypto
While 50% of the crypto jobs in 2022 were secured at exchanges but 8% of them were housed in NFT markets. This means that NFT markets offered 6,738 jobs in the preceding year.
Stats also reveal that in the industry majority of job openings in 2021 were related to NFT markets.
Coinbase was however the biggest employer of the crypto industry in 2021 as it offered different job profiles to about 7,300 workers.