The Web 2.0 (Traditional Internet) phase showed us the relevance of content creation, building a personal brand around a niche, and the rise of influencers.
The adoption of blockchain technology and Web3 is an opportunity to offer even more freedom and flexibility in the workforce.
As a millennial who dove into job searching directly after college, a 9–5 role was the best way to get your foot in the door at the time.
I feel like careers were more limiting back then and had many factors such as your college major, years of experience, software knowledge, etc.
Now there are more paths to having personal freedom over your career, thanks to technology. In the digital age, opportunities are endless because anyone can learn an online skill and make a profitable income.
I think the blockchain space will further drive the creator economy and transform the current workforce. The future of work is headed towards decentralization and working on projects you’re passionate about.
It’s about building a career around your personal interests and collaborating with people with the same vision. It’ll help people create their dream instead of someone else's.
Will Web3 change the 9–5 work structure?
What will happen to corporations?
Will college degrees still be valued like they once were?
There’s an interesting correlation between The Great Resignation and Web3.
In 2021, 47 million Americans fled jobs for many reasons: poor compensation, relocation options, and more personal freedom over their jobs.
This was an opportunity for humanity to shift towards having a career that’s focused on a better quality of life and being in alignment with their values and purpose.
Web3 is likely to be able to solve that problem since it’s an outlet for people who are looking to contribute to a community and build a project that’s meaningful to them.
As this Forbes article states, “Web3 projects tend to be more inclusive and supportive,” shared Julia Lipton, founder of Awesome People Ventures. “Given the nature of shared ownership, people’s success is closely tied to the quality of contributors in their network. This dynamic creates a more collaborative work environment ”.
Web3 provides more opportunities for creativity, entrepreneurship, and freelancing.
First, let's define Web 3.
Web 3.0 can be boiled down to a new iteration of the World Wide Web which incorporates concepts such as decentralization, blockchain technologies, and token-based economics (Tokenomics)
Web 1.0 and Web 2.0 are the earlier versions of the world wide web. Web 1 was the initial version of the world wide web, which refers roughly to the period from 1991 to 2004. Web 2.0 started roughly in 2004 and continues today.
The main difference between web 1 and web 2 is the idea that the web 2 era is much more user-based. Things like social media, forums, blogs, and wikis were not really things prior to 2004. Yes, they existed but were not a prominent and popular feature of the internet.
Now that we have that covered, let’s dive into how DAOs, The Metaverse, and NFTs can forever change the workforce.
Decentralized Autonomous Organizations (DAOs) are the driver of community for Web3 projects, allowing creators to collaborate and fund their projects.
DAOs are organizations run by smart contracts. These smart contracts enable the DAO to be controlled by the organization’s members. This means there is no central government or rulership of the DAO.
An example is an entrepreneur with an idea to create a sustainable fashion clothing line, you can market your idea through discord (a social messaging platform for communities) or social media.
Once you build a community, everyone that’s a part of the DAO can gain governance rights through the DAO.
DAOs oppose the traditional corporate structure because they offer a decentralized voting system without a hierarchical structure.
Another difference is that DAOs don’t pay salaries, instead contributors can work-to-earn (W2E) by generating fiat currency or crypto tokens.
Other methods are learn-to-earn (L2E) or play-to-earn (P2E). DAOs can be a game-changer because they give a chance to earn multiple streams of income instead of having a single career path.
DAOs are fully remote and save organizations the cost of having a central office, which might attract millennial and Gen Z workers who prioritize freedom.
The metaverse is a virtual world that can be accessed digitally, a 3D model of the internet.
Humanity might migrate to the metaverse in the far future and create its own virtual reality, kind of like the matrix. Whether this will be a good thing or a bad thing is certainly something to be considered though.
At least the positive effect it will have on the workforce has already shown itself.
A few activities in the metaverse involve transacting using cryptocurrency, playing games, attending concerts, and creating avatars.
A recent trend is buying virtual real estate and fashion, in which brands like Gucci and Nike have already started launching clothing.
Future job titles include an avatar or fashion designer, for example.
The metaverse is appealing to younger generations like Gen Z and Gen Alpha because they grew up exposed to tablets and phones. Will these generations skip college to work in the metaverse or even attend college in the metaverse?
Non-fungible tokens (NFTs) are likely to be life-changing to creators such as artists, writers, gamers, etc.
For example, if you’re an upcoming pop music artist, you’d be able to create a community around your music without the interference of a middleman such as a record label.
Furthermore, artists can profit off of their music directly through an NFT sale and collect royalties.
With the purchase of an NFT, artists may give incentives like getting a free concert ticket or first dibs on their fashion line.
NFTs will give artists autonomy over their brand and label, instantly connecting them with fans. The tables have turned for many struggling artists that might be able to make a decent living now.
These are only some of the revolutionary things that Web3 is bringing to the workforce, there are many more.
Add to this all the revolutionary thing Web 3 is doing for finance and technology. Web 3 is really something to keep an eye on for the future since it is likely to be revolutionary.
Time will tell just how much change Web 3 will bring to the world. At boomish we are looking to ensure that we are part of the change and make as many people aware of the positive changes that Web 3 seeks to bring.