NFTs, cryptocurrency, and blockchain professionals are become more sought after in the job market, especially after COVID-19 pushed up technology adoption.
NFTs have been the talk of the town for a while now. In May, cloud company Akamai Technologies, Inc. unveiled the first NFT artwork dynamically designed by the Internet. In fact, based on data drawn from the Akamai, the NFT will visually evolve in real time as Internet traffic changes and cyberattacks launch.
This stir in the market has led to companies seeking experts in the field of NFT, crypto, and blockchain.
Research released today by jobs portal Indeed shows that job postings for cryptocurrency, blockchain, and NFTs have grown 804% between April 2020 to April 2022. The data also reveals an acceleration in the market’s demand by 315% in 2022.
Just today, Totality Corp, an NFT gaming firm has hired multiple talents across levels to fuel its growth. Unity, front end, and Android development are some of the areas for which the firm is looking forward to hiring.
In fact, a glance at Google shows 209 NFT jobs in LinkedIn, 165 in Naukri.com, and 72 in Monster India.
Post-Pandemic Tech Adoption a Catalyst
Job postings in April 2022 were 15 times more than in 2019, highlighting the role of the pandemic in this sustained growth as a propeller of tech adoption across functions in India. As a result, technology professionals are more in demand than ever before, especially with expertise in newer areas like cryptocurrency, NFTs, and blockchain.
Being a technology first economy, Indian firms are rapidly investing in technologies that will put the country at the forefront of this new digital era
The top job role across this field is application developer, followed by data engineer and full stack developer. Indeed data also shows that crypto roles appear to be one of the biggest share of hires in overall technology job roles, increasing from 41.22% in 2019-2020 to 67.48% in 2021-2022.
Sashi Kumar, Head of Sales for Indeed India said “Being a technology first economy, Indian firms are rapidly investing in technologies that will put the country at the forefront of this new digital era. Technology hubs like Bengaluru and Hyderabad continue to lead with hiring in the sector while the national capital region is also seeing a fair share of interest in the sector.”
Scaling Issues Remain
However, even though the job postings of crypto, blockchain and NFTs have increased, they still have scaling issues and security concerns. Nevertheless, sectors such as finance, healthcare, and gaming are increasingly implementing decentralised finance, signaling the growing demand for jobs.
“While blockchain development promises to be an exciting new field of work and offers tremendous scope for application, the sector is still very nascent,” said Kumar.
A global report by Gartner forecasts that the business value generated by blockchain will grow rapidly, reaching US$176 billion by 2025, potentially creating more job prospects.