Top Talent Is Migrating to Web 3

Dusan Kovacic is the Chief Investment Officer of Rockaway Blockchain Fund

It isn’t often you’d perceive tech companies described arsenic dinosaurs, but they are so present conscionable that and request to germinate oregon hazard being relegated to an epoch past.

The largest tech giants, including Amazon, Google and Meta Platforms, person go excessively accustomed to the outdated concern models of advertisement monetization, an manufacture that is increasing 15.7% annually.

Ad tech is inactive an appealing opportunity, but blockchain has a overmuch higher maturation potential.

Dusan Kovacic is the Chief Investment Officer of Rockaway Blockchain Fund, a VC investing into integer assets and infrastructure.

Traction metrics successful Web 3 are increasing done the roof. For example, regular progressive addresses connected Ethereum grew from 200,000 successful January 2020 to 550,000 today, expanding astir 65% per year..

Revenue of Ethereum skyrocketed from $200,000 per week successful January 2020 to $31 cardinal per week today. And the emergence of new furniture 1 protocols shows adjacent much awesome growth. Solana regular progressive addresses grew from zero successful January 2020 to 550,000 now, the aforesaid level arsenic Ethereum.

Continuing to maestro the 20-year-old online advertizing concern exemplary is not absorbing capable for apical endowment immoderate more. These radical – immoderate of the smartest and astir educated among america – are looking for caller opportunities that Web 3 happily provides.

This inclination whitethorn person started with the “creator economy” arsenic much independent-minded radical sought their ain opportunities and has bled into Web 3’s “ownership economy.”

We are seeing a monolithic inflow of technologists. The Electric Capital developer study of nationalist GitHub repositories associated with blockchain projects shows 100% maturation since past year.

It’s not lone the developers, but enforcement talent, too. The erstwhile main selling serviceman (CMO) of Meta's wallet project, Novi, took a CMO presumption astatine Circle; the erstwhile wide manager of Amazon's AWS Edge Services is now main exertion serviceman of Gemini, and Lyft's erstwhile finance main and Uber's ex-director of firm improvement person some joined OpenSea.

Add to this the immense backing that blockchain startups received successful 2021 – $33 billion, which was 8.1 times the magnitude from the erstwhile year.

The request for tech endowment successful Web 3 is massive. In the U.K., occupation postings mentioning blockchain are astatine an all-time high, and according to LinkedIn, occupation postings successful the manufacture saw maturation of 400% since 2020.

And astatine Rockaway Blockchain Fund, we are seeing the involvement successful this exertion with our ain eyes. Each of our portfolio companies is hiring. At the Hacker House successful Prague, which we co-hosted with Solana, determination were much than 30 teams presenting connected demo day, and 800 developers contiguous from each crossed Europe, either gathering oregon looking to widen their teams.

We are expecting a akin turnout astatine the upcoming Gateway Conference and Hackathon successful Prague for the Cosmos ecosystem. This is monolithic maturation since our pre-COVID hackathon with Binance & Oasis Labs, wherever astir 30 developers attended.

This information showcases the traction of the manufacture and solidifies our condemnation arsenic long-term, value-add investors successful Web 3. Combining the inducement alignment of the ownership system of Web 3 with apical tech endowment and monolithic backing is precisely what a task capitalist looks for.