Key Survey Findings:
- 72% of Web3 professionals in India are very satisfied with their careers
- In India 41% of Web3-interested professionals desire to work as developers in the space
- 60% of the Indian users surveyed who have never worked for Web3 are very interested in learning more about the field of employment
- Marketing, Research and Strategy are the most desired job functions in Web3 in India with them seeing an average of 45% plus Web3-interested professionals willing to join.
- 30% of Indian women who work in the Web3 space think long-term and apply sustainable strategies
KuCoin, a global cryptocurrency exchange that makes it easier to buy, sell, and store cryptocurrencies, today announced additional findings from the global survey report, “Journey into Web3” revealing the increasing interest from the Indian youth to explore job opportunities in Web3 industry. The report highlights, over 40% of Indian Web3-interested professionals have shown a stronger passion for metaverse, NFT, and blockchain-based gaming space for employment, over-indexing the global average.
With India progressing successfully towards the Web3 space, which is powered by digital engineering, around 41% of Web3-interested professionals desire to work as developers in the space. This indicates the scope of job opportunities that Web3 is going to create for Indian youths. 72% of Web3 professionals in India are satisfied with their careers currently and acknowledge the advantages of the industry, such as room for development and innovation as well as enhanced welfare. Additionally, 60% of the Indian users surveyed who have never worked for Web3 are very interested in learning more about the field of employment, mostly driven by opportunities for professional advancement and a better compensation package in the sector.
Marketing, Research and Strategy are the most desired job functions in Web3 in India as over 45% Web3-interested professionals are willing to join. As Web3 attracts the brightest minds, it will undoubtedly have a juggernaut effect, resulting in the creation of a decentralized Internet unlike anything we’ve ever seen before.
Unveiling the survey findings, Johnny Lyu, CEO, KuCoin said, “One of the most popular terms in the 2022 tech industry is “Web3,” which refers to the upcoming version of the internet that will be built on blockchain technology. KuCoin undertook this global study to gain insight how the youth in India has shown keen interest in the blockchain, Metaverse universe as a potential career path. The results of our “Journey into Web3” poll has also shown that women in India have a bright future in Web3 with increased interests from a diverse talent pool. In the near future, we anticipate seeing more Indians including women joining the web3 space, which will inertly strengthen India’s whole Web3 ecosystem.”
Women play a major role in the Web3 space and according to the survey 30% of surveyed Indians think that women contribute to Web3 workplace by thinking long-term and applying sustainable strategies in their work. 34% think that the Web3 space lacks women-led communities which is a top challenge for women who are investing or working in the space. Other main challenges for women entering the Web3 space include the lack of Web3 educational resources (31%) and keeping up with evolving industry know-how (26%). Additionally, 25% think that women worry about the instability and risks surrounding the Web3 space. Building more Web3 educational resources and communities for women are considered the most effective in encouraging women to join Web3. In India, it is particularly important to offer tangible rewards and benefits for female investors and employees as motivations to grow their presence in Web3.
Commenting on the survey, Medha B Dey Roy, Head of Branding, KuCoin India, said: “Indian women have enormous potential to disrupt the Web3 market. But compared to male-led Web3 groups, we found that there are less women-led communities. However, the survey reveals that women are valued for their abilities to develop trust in communities and workplaces, two factors essential to developing the Web3 culture. This means that women’s honest, sympathetic leadership styles and long-term mindsets are more appreciated. These skill sets are vital and play a significant part in strengthening the Web3 ecosystem. Thus, at KuCoin we continuously strive to foster inclusivity and diversity by supporting talents across geographies.”
More than half of our surveyed respondents expressed interest in exploring Web3 as a career option, which is embraced for its unique benefits such as abundant space for innovation and professional growth, flexible work location and schedule, and above-the-average salary and welfare package.
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform focused on inclusiveness and community action reach, it offers over 700 digital assets. Currently, it provides Spot trading, Margin trading, P2P fiat trading, Futures trading, staking, and lending to its 20 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million in investments through a pre-Series B Round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges, according to CoinMarketCap. In 2021 Forbes named KuCoin one of the Best Crypto Exchanges. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.