Has the Bear Market Killed Freelancing for Web3 in 2023?

Opportunities for freelancers in Web3

Thanks to these trends in Web3, there are a number of emerging opportunities for freelancers to find work in Web3. Broadly speaking, freelancers can expect to find both technical, and non-technical roles.

There continues to exist a serious shortage of talent in the crypto space. On the technical side of the house, it is hard to find qualified blockchain and smart contract developers. On top of that, there are not many professionals with a strong knowledge of blockchain for non-technical roles like marketing and sales. 

Common technical roles for freelance software developers include:

Developing and designing decentralized applications (dApps) and protocols.

At the infrastructure level, there are still many interoperability and scalability issues to be addressed before blockchain-based financial services can become a serious contender to existing legacy financial technologies. Working with project teams solving for these, or developing solutions that address some of these mission-critical challenges remains in demand.

Additionally, there are few dApps that have truly been designed to gain mass adoption by abstracting away many of the complexities that hinder their widespread use.

Smart contract audit, or bug bounty hunting

Every month seems to bring about a new hack or exploit, from flash loans, to bridge exploits, or simply compromised wallets. Security vulnerabilities erode consumer confidence in DeFi platforms - and the demand for freelancers who can ensure the integrity of smart contract platforms, and dApps will only continue to grow.

Popular non-technical roles include:

‍Creating and managing decentralized communities and networks.

Community growth and management is perhaps one of the most unique roles to have emerged in Web3. These roles are a combination of several traditional roles like customer success, investor relations, and growth marketing. Projects that can successfully build and engage a large and active community of users, investors, and developers will outlast those that are stuck with Discord ghost towns of airdrop hunters.

‍Providing specialized consulting and advisory services to companies and organizations in the Web3 space.

Much of Web3 is comprised of relatively young, and inexperienced innovators. What this often means is that there is a need for advisors who are able to take specialized knowledge of fields like corporate law, finance and accounting, or even organizational design, and apply them to emerging verticals in Web3.

The reverse is also true, as forward-looking organizations and brands in traditional industries look to experiment with leveraging Web3 technologies, and require advisors who can speak the language of both domains fluently.

‍Writing and producing content for decentralized platforms, or exchanges and marketplaces.

Web3 is a complex, interdisciplinary subject. It covers fields such as economics and finance, cryptography and information systems, the social sciences, and whatever domain to which the technology is applied.

The need for content creators, marketing experts, who can help projects reach the masses is unlikely to go away. In fact, as poor quality projects get flushed out in the bear market, the signal to noise ratio in online improves. The projects that remain are only likely to want to take the opportunity to make themselves heard.

‍Creating artworks for media-rich Web3 verticals like NFT art, entertainment, or gaming

Yes, NFT art may have been a bubble, and play-to-earn appears to have largely imploded under the crushing weight of their own ponzinomics. However, despite the deflated enthusiasm surrounding the metaverse in 2023, it is well worth remembering that the hardware and software stack of immersive platforms like VR and AR have only just begun to mature. 

Additionally, media-rich verticals like fashion, art, entertainment and gaming have been thriving industries for as long as humanity has existed. How they successfully integrate Web3 technologies is only beginning to be explored.

Be greedy when others are fearful

The legendary value investor, Warren Buffett famously said, to be “fearful when others are greedy, and greedy when others are fearful.” 

Despite the correction in asset prices, Web3 continues to be an exciting and growing ecosystem that is creating new opportunities for freelancers. If you are a curious freelancer looking to find work in this space, explore the trends and opportunities in Web3 and consider how your skills and expertise can be applied to various areas to create value in this ecosystem.

The bear market may have made it harder for freelancers to be hired as quickly or be paid insane fees for doing very little work. But the departure of freeloaders, and tourists is a good thing for freelancers who are determined to stay on.

Since launching in January 2021, Request Finance has helped over 2,300 remote teams manage over $273 million in invoices, payroll and expenses paid in crypto. Learn how it can help freelancers like you simplify invoicing your clients, and getting paid in crypto today.