Mankun Exclusive Interview | Must-Read for Job Seekers: Senior Headhunter Reveals the Golden Rules for Web3 Job Hunting

New Trends in Web3 Job Seeking

Recently, Mankun Law Firm reviewed client legal consultation cases from the third quarter of 2024 and identified an interesting phenomenon:An increasing number of Web3 professionals are seeking legal advice on employment and labor matters.

According to data from Mankun Law Firm, during the entire third quarter,42%of employment-related inquirers were willing to pay for in-depth consultations. The majority of the positions inquired about originated fromcentralized exchanges, such as Binance, Bybit, and Bitget. Inquiries also involved sectors closely related to virtual assets, such as DeFi and wallets. In terms of job roles, the most frequently consulted positions were typicallybusiness development (BD), followed by programmers and product managers. Additionally, most individuals seeking consultation come from the traditional Web2 internet industry, making them more cautious about employment opportunities in Web3.

However, clients consulting our firm represent only a small fraction of the broader Web3 workforce. To gain a deeper understanding of the current state and security issues of Web3 employment, more professional analysis is required. To this end, Mankun Law Firm conducted a special interview with J.C Da Bencong, a professional headhunter with extensive experience in Web3 recruitment, to provide multidimensional insights into Web3 employment trends and job seeker consultations.

Q: Mankun Law Firm

From 2023 to 2024, how has the overall demand for recruitment in the Web3 market changed? Which sectors (projects) have seen relatively high demand, and what are the main categories of positions?

AJ.C Dabencong

In the past two years, driven by Web3 market development, technological innovation, and industry trends, demand for Web3 recruitment has been showing steady growth. Meanwhile, job roles are gradually becoming more diversified. In addition to traditional technical development positions,market demand for non-technical roles is also increasing, such as product managers, marketing specialists, and community managers. The growth in demand for these roles indicates that the Web3 industry is gradually evolving from a purely technology-driven sector into a diversified ecosystem.

From the perspective of industry sectors, DeFi remains a hot sector within the Web3 space; therefore, talent demand in this sector is substantial, primarily focusing on roles such as smart contract development, financial product design, and security auditing. Secondly, blockchain infrastructure construction is another sector with abundant job opportunities, particularly maintaining high ongoing demand for developers and maintenance personnel at the blockchain network and protocol levels. Additionally, influenced by the broader Web3 ecosystem narrative, the rise of popular sectors such as Decentralized Physical Infrastructure Networks (DePIN), Artificial Intelligence (AI), and MEME Coins has created new employment opportunities. Although projects with entertainment-oriented attributes, such as MEME Coins, remain popular, their long-term value still requires careful consideration.

From the perspective of job types, technical roles continue to account for the majority of demand. Common requirements include blockchain developers, smart contract engineers, front-end and back-end developers, and security experts. Secondly, recruitment demand for marketing (MKT) roles is gradually increasing, such as marketing personnel responsible for brand promotion, community operations, and user growth strategies. These roles generally require a high level of English proficiency, with many requiring native-level English or the ability to use English as a working language. Other roles with relatively high demand include quantitative traders (graduates from top-tier universities preferred) and product managers. The demand for these roles implies that possessing relevant skills and experience will be highly valuable for those seeking employment in Web3.

Q: Mankun Law Firm

Based on our current observations and the profiles of job seekers consulting our firm, it appears that most job openings are provided by exchanges or DeFi projects, and most of these projects are recruiting for business development (BD) or MKT-related roles. This aligns with the changes in recruitment demand you just shared. What do you think these changes in recruitment demand signify?

AJ.C Dabencong

From current observations, exchanges and DeFi projects occupy important positions in the Web3 space, providing numerous employment opportunities, especially in business development (BD) and marketing (MKT) roles. I believe this is a normal phenomenon in the current stage of Web3 industry development. The reason is that the Web3 sector has moved past its phase of wild, unregulated growth, and internal competition has become extremely intense, particularly among exchanges and DeFi projects. According to statistical data, there are over 20,000 cryptocurrency exchanges globally. To capture greater market share and expand their user base, these companies require robust business development and marketing teams to expand their operations and influence.

At the same time, whether in Web2 or Web3, the principle that "the user is king" has always been key to corporate success. Customer acquisition paths generally include: building brand awareness and capturing users' mindshare; employing marketing strategies, such as partnerships and promotional campaigns, to attract and retain users; and leveraging global teams to expand into and adapt to new markets and cultures. Business development (BD) and marketing (MKT) roles play significant roles in these areas.

Q Mankun Law Firm

From your perspective, what types of talent are currently most scarce in the Web3 industry? We all recognize that Web3 has its barriers. Therefore, are project teams more inclined to hire practitioners with Web3 experience, or are they equally open to candidates from Web2? Do you anticipate that this candidate profile may change in the future?

AJ.C Dabencong

Current roles in the Web3 industry can be broadly categorized into technical and non-technical positions. Technical roles typically include:

Blockchain developers, particularly those proficient in blockchain protocols and smart contract development, with experience on mainstream blockchain platforms such as Ethereum, Solana, and Polkadot. Such talent remains a highly scarce resource;

Security experts. Given that Web3 projects often involve substantial financial transactions, security is paramount. Consequently, experts with capabilities in blockchain security audits and protection are highly sought after by Web3 projects;

Cross-chain technology experts. Cross-chain interoperability is a critical aspect of blockchain technology; therefore, there is significant demand in Web3 for technical professionals capable of designing and implementing cross-chain solutions.

Non-technical talent, namely those I previously mentionedProduct ManagerandMarketingThe primary commonality among these roles is the need tounderstand Web3, and to ensure user-friendliness from both product and operational perspectives.

As for whether Web3 project teams currently prefer hiring Web3 practitioners or Web2 professionals, based on my experience with Web3 project teams, this typically depends on the specific role requirements and the project stage: For roles that require a deep understanding of blockchain technology and decentralized principles, such as technical development and security audits, project teams tend to recruit practitioners with a Web3 background; for roles focused on large-scale user growth and market expansion, Web2 experience is more valuable. Talent with a Web2 background can bring mature product development and market operation experience, helping Web3 projects better address the mainstream market.

It is foreseeable that, with the widespread adoption of Web3 technology and the promotion of education, more talent with a Web2 background will transition to Web3. This will not only narrow the gap in technology and philosophy but also give rise to more cross-disciplinary integrated talent. This, in turn, will drive further development and innovation in the Web3 industry.

Q Mankun Law Firm

Our Q3 data shows that an increasing number of Web3 job seekers are beginning to pay attention to legal compliance issues. Do you share this perception? Generally speaking, when you recommend a position at a certain project to a candidate, what issues do candidates typically focus on? Do some raise concerns, such as those related to security, legal matters, compensation, and so on?

AJ.C Da Bencong

Indeed, an increasing number of candidates are currently asking related questions, especially when Web2 professionals enter the Web3 space, as the style of Web3 is entirely different from that of the traditional internet. Based on my previous experience, when recommending a position at a Web3 project to a candidate, they typically focus on several key areas.

The first factor isthe project itself, such as the project’s stability and prospects, security, and technical architecture. These factors affect whether the project can achieve sustainable development and whether its roles can remain stable over the long term. In particular, with respect to security, because Web3 involves the management of crypto assets, security vulnerabilities may cause significant losses. As a result, candidates for finance-related roles often ask about “the project’s security measures” and “the reliability of its technical architecture.”

In addition, company culture and team building are issues that Web3 candidates pay close attention to. They frequently inquire whether the company culture is open and innovative, about the team’s background and experience, and about management style, because they are concerned about potential difficulties in integrating into the team and whether the company’s values align with their own.

Of course, many Chinese-speaking job seekers, especially those based in mainland China, are also concerned aboutlegal complianceissues. The questions I have received most often in the past include, for example, “Whether the project complies with applicable laws and regulations in its operating jurisdictions, particularly those relating to cryptocurrencies.” After all, a non-compliant project is easily subject to sanctions by regulatory authorities, especially token-issuance projects. On the one hand, if the project is investigated, it may easily lead to the suspension of the project, forcing candidates to seek other opportunities; more dangerously, individuals in marketing roles, such as business development personnel, may easily become implicated and subject to investigation and enforcement actions—incarceration is no trivial matter.

Compensation and incentivesare also frequently asked about. For example, whether the compensation structure is competitive and whether there are token or equity incentives. Especially in Web3 projects, it is very common for salaries to be paid in USDT or the project’s native tokens, which means that Web3 practitioners must bear the income instability arising from market volatility in cryptocurrencies. Finally, another commonly asked question relates to career development. Many candidates ask whether there are opportunities for growth and learning within the project, and whether they can receive support for skills enhancement and career advancement. They also worry whether a project that is too niche may limit their future career options.

For us, we typically help candidates evaluate and make choices that balance innovation and risk. Therefore, before providing advice to candidates, we thoroughly understand the project’s background and industry dynamics, and communicate transparently about role-related information. At the same time, we also liaise with law firms and lawyers to address candidates’ legal questions.

Q Mankun Law Firm

Speaking of project backgrounds and industry dynamics, new Web3 projects of various sizes emerge every year, creating many employment opportunities. However, the quality of project sponsors varies significantly, which may give rise to a range of issues for candidates. From your perspective, could you provide some recommendations to help candidates avoid pitfalls?

AJ.C Da Bencong

When selecting employment opportunities in the Web3 industry, it is indeed necessary to conduct a prudent assessment of project sponsors to avoid potential risks. The following are some of my suggestions, which I hope will help everyone steer clear of low-quality project sponsors:

Research the project background.Carefully review the project whitepaper and technical documentation to assess the feasibility and innovativeness of its technical solutions. Understand the backgrounds and experience of the project team members through channels such as the project sponsor’s social media accounts and official website, with particular attention to their track records in blockchain or related fields.

Assess financing and partnership relationshipsReview the project’s financing status to understand the institutional or individual investors behind it; the presence of well-known investors is generally a positive signal. In addition, consider whether the project has cooperative relationships with other reputable companies or organizations in the industry, as this may serve as an indicator of its credibility.

Market reputation and community feedbackReview feedback on the project across social media and community platforms, paying attention to evaluations by users and developers; also consult assessments by industry analysts or media outlets to understand the project’s reputation and influence within the industry. If there is little or no available information, caution is warranted.

Audits and securityConfirm whether the project has undergone independent security audits, whether audit reports have been publicly disclosed, and investigate any past security incidents and how they were handled. These factors not only reflect the project’s health but also indicate the team’s level of commitment to the project, which bears on its long-term viability.

Legal complianceUnderstand the project’s legal compliance in the jurisdictions where it operates, particularly when it involves token offerings and financial services. Where necessary, it is advisable to consult a Web3 lawyer before accepting employment, as they typically possess more specialized insights into the project’s legality.

Long-term vision and actual progress.Review the project’s roadmap and current progress to determine whether it is advancing as planned. Additionally, assess whether the project has already developed tangible products and established a user base, or whether it remains merely at the conceptual stage. Generally, projects that remain purely conceptual with no implemented deliverables, or those that simply issue tokens without substantive underlying operations, often present significant risks.

By conducting in-depth assessments of these aspects, one can better identify and avoid project sponsors of inferior quality, thereby selecting employment opportunities with greater potential and credibility. In summary, maintaining transparency and conducting thorough research are key to risk mitigation.

/ END.

Mankun Exclusive Interview | Must-Read for Job Seekers: Senior Headhunter Reveals the Golden Rules for Web3 Job Hunting

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