86% of Web3 Professionals are Confident About Crypto’s Future – Consensys
Despite regulatory uncertainty, 86% of Web3 professionals remain optimistic about the future of crypto, according to a Consensys report.
Uncertain Regulations: Web3 Professionals Still Optimistic About the Future
A recent report from Consensys showed that more than 86% of Web3 professionals remain confident about the industry’s future despite ongoing regulatory uncertainty. This optimism comes as the 2024 US presidential election approaches, with potential policy changes that could affect the global crypto market.
The Consensys survey highlights that the driving force behind this workforce’s confidence is the belief in the transformative power of blockchain technology. According to Sarah Howe, the executive director of talent acquisition at Consensys, Web3 professionals are highly motivated by the core principles of decentralization, innovation, and transparency.
Howe emphasized that many workers are committed to making a real difference through blockchain. The survey, conducted by YouGov, included responses from 30 organizations within the Web3 ecosystem, such as the Ethereum Enterprise Alliance, the Blockchain Association, and the Texas Blockchain Council.
Cryptocurrency Compensation Over Fiat Payments
However, the report also highlighted a curious trend regarding compensation. While 67% of Web3 professionals receive their salary entirely in fiat currency, only 10% are paid in cryptocurrency.
Interestingly, half of the workforce preferred receiving a mix of fiat and crypto, with 13% comfortable being paid exclusively in digital assets. This reflects a broader interest in the practical application of blockchain in daily work life, even as the technology continues to develop.
Digital Nomad Lifestyle Alignment
Another aspect of the report focuses on the work environment of Web3 professionals. Over 75% of the workforce identifies as digital nomads, valuing the flexibility of remote work.
According to Howe, this trend aligns closely with the decentralized nature of blockchain technology, which encourages independence and autonomy. Many professionals prefer this non-traditional work lifestyle, rejecting the typical office routine in favor of more control over where and how they work.
The Consensys survey also pointed out that 83% of the respondents are employed full-time within the Web3 space. Additionally, 13% are entrepreneurs, while 12% are active in decentralized autonomous organizations (DAOs).
This workforce breakdown reflects the diversity of opportunities within the Web3 industry, ranging from structured employment to more entrepreneurial ventures. This survey noted that regulatory concerns do not dampen this workforce’s belief in Web3’s long-term success.
Nytro Lab Raises $8M to Develop A Web3 Game
Meanwhile, Nytro Lab, a Web3 games studio, has announced that it raised $8 million in a funding round led by SevenX Ventures. The investment aims to accelerate the development of its first blockchain game, Castile, which has entered beta testing.
The company also revealed other notable firms that participated in the funding round, such as Aptos Labs, OKX Ventures, Amber Group, Hashkey Capital, Matr1x, and Leland Ventures. This new funding brings Nytro Lab’s total capital raised to $25 million.
The studio mainly focuses on developing games using its “Play and Trade” model, which integrates high-quality gameplay with a dynamic trading system. This model allows players to engage in immersive game experiences with its unique in-game economy.
Nytro Lab plans to use the new funds to scale up its vision for blockchain gaming, expand Castile with more features, and enhance the player experience. The game leverages the blockchain’s unique capabilities, allowing for secure transactions and community-driven governance.
Castile has already generated considerable buzz during its alpha testing phase, ranking first in US TikTok marketing tests with a 90.53% user retention rate and an average playtime of nearly 200 minutes.
Aptos Labs Excited About Castile’s Impact on Web3 Gaming
In his remarks, Arthur Kao, Co-Founder of Nytro Lab, expressed confidence in the studio’s vision. He emphasized the importance of their “Play and Trade” model in empowering players to participate in a dynamic game economy while enjoying high-quality gameplay.
Kao also noted that the new capital would help drive the global adoption of blockchain gaming. HC Xie, Ecosystem Manager at Aptos Labs, shared similar optimism and highlighted Nytro Lab and Castile’s role in expanding the Aptos gaming ecosystem.
