How to Make Money in Web 3 | Top 3 Skills to Make Money in Web 3

As we approach 2023, many of our readers are considering careers in the industry.

Despite the crypto winter, many organizations continue to build products and hire talent.

It’s time to think about how to make money on Web 3.

To continue our Web 3 career series, we’ll be breaking down the top 3 skills to make money in Web 3.

The One Skill to Make Money in Web 3

If there is one skill that you should have, it’s fundamental knowledge on Web 3.

The space comes with several Web 3 words that will shock interested participants. From key words such as Web 3 and NFTs, to parachains and automated market makers, get familiar with the terms.

While no one is expecting you to master this knowledge, familiarity will help you relate in interviews, conversations, and ultimately to your target customers.

Transferable Skills

To make money on Web 3, you don’t need to start from scratch.

As we detailed in our previous article, you can utilize transferable skills or expertise that can be used across various roles and industries. Whatever you’ve learned from your previous career, you can leverage it in Web 3.

There are two types of transferable skills.

Soft Skills to Make Money in Web 3

Let’s say you’re presenting a business idea to a client. Throughout the meeting, you notice your client looks unsatisfied.

You probe further, learn their pain points, and eventually close the deal. This entire exchange involves soft skills.

According to the career site Indeed:

“…soft skills are interpersonal and behavioral skills that help you to work well with other people and develop your career.”

Whether you’re in Web 3 or traditional corporate roles, you will typically find yourself working in a team. Even if you’re freelancing, you still deal with 1 or 2 people.

Here’s a non-exhaustive list of highly-prized soft skills:

Sales

Regardless if you’re on a romantic date or presenting to your boss, you’re selling something. To get a 2nd date, you’re presenting the best version of yourself. Meanwhile, to convince your boss, you’re getting buy-in of your idea.

We use sales in everyday life.

As you embark on a Web 3 career, whether that be as a developer, writer, or even as founder and CEO, strong sales skills will take you further than the competition.

Cybersecurity

We’re not saying that you should be a cybersecurity expert. But, you need to have a sense of security.

In 2022, nearly $2 billion worth of crypto was stolen. That report came out in July. The full year amount is likely to be higher.

Hacks and scams happen frequently in the Web 3 space. From wallet draining links to fake LinkedIn recruiters, malicious actors attack non-stop.

Having solid personal security practices will go a long way. Not only will you make money in Web 3, but more importantly, you will get to keep those gains.

Time Management

It’s no surprise that to make money in Web 3 or in anything, you have to maximize your time.

Especially in the Web 3 space, where you can be working remotely or at odd hours, your colleagues or direct manager won’t keep you in check.

Time is gold. Keep it well.

Hard Skills to Make Money in Web 3

While soft skills affect how you work, hard skills are quantifiable and impact the completion of a job.

Here are examples:

• Computer programming

• Trading financial markets

• Creative writing

• Public speaking

• Graphic design

To apply these hard skills to Web 3, you’ll have to study a bit further. For example, a Web 3 coding language such as Solidity.

However, having solid hard skills will enable you to learn that knowledge faster.

To learn more about high-paying jobs in Web 3, check out our last article.

Bonus!

If you’re still reading at this point, you’re probably wondering, “Between hard skills and soft skills, what can make more money in Web 3?” or “Do you need both?”

While there’s no perfect answer to these questions, generally, as one transitions into a leadership or people management role, more soft skills are needed.

Meanwhile, individual contributor roles rely heavily on hard skills.

Web 3 Skills

Differentiating from fundamental knowledge on Web 3, these skills are much more technical and require deeper expertise.

These skills derive most of their value from the industry.

Examples:

• Metaverse Developer – 3D World Design

• NFT Deployer – Gas Contract Optimization

• Blockchain Analytics – Cybersecurity

Just reading about these roles and skills aloud makes everyone’s head hurt!

As they’re too technical to take-up in this article, make sure to watch out for our future guides.

To Conclude…

Given the nascent state of everything, it is still unknown how these skills and, ultimately, roles will evolve and grow in and outside of Web 3.

What we do know is that they are highly sought after skills and are great ways to make money in Web 3.

Want to learn more about Web 3 careers? Check out our guides here.