Crypto Job Seekers Should Build Personal Brands And Be ‘Web3 Obsessed’ • TechCrunch

To get a roundup of TechCrunch’s biggest and biggest crypto stories delivered to your inbox every Thursday at 12pm PT, subscribe here.

welcome back to Chain reaction.

This month was filled with announcements from major crypto firms laying off employees. Of course, this “trend” isn’t limited to this industry: there’s a broader downsizing of the tech workforce: Salesforce, Amazon, Meta, Alphabet, and Microsoft have all made layoffs in recent weeks.

So this week I wrote two deep-dive articles in an attempt to help those who have been laid off (perhaps you, dear reader) stand out and find a new job in this unforgiving market. We spoke with several recruiters, talent managers and founders, who told us the qualities they look for in candidates and what the interview process is like to hire.

The first tip? “Get obsessed with web3,” Nate Holiday, co-founder, president and CEO of Space and Time, shared with TechCrunch. “If you don’t eat, sleep and breathe web3, this probably isn’t the industry for you.”

Candidates can also stand out by building a personal portfolio with open source projects, contributing to DAOs, taking on community ambassador roles, or participating in Discord conversations, Aleksi Loytynoja, co-founder and CEO of “talent test” recruitment platform Kleoverse told TechCrunch. Posting the job publicly and building a social media presence helps candidates find new opportunities, she added.

More details below.

This week on web3

Fired from your crypto job? This is what founders look for in new talent (TC+)

As mentioned above, layoffs continue to spread in the crypto job market amid macroeconomic volatility and bearish market sentiment, but there are still plenty of startups looking to hire fresh talent. “Now is the perfect time to hone your skills and create products that are ready for it,” Loytynoja said. “For laid-off people in particular, the beauty of web3 is that there are many job and contribution opportunities available that help you build experience and gain exposure within the organizations you want to join.”

Crypto Recruiters See Opportunity to Capture Talent Amid Big Tech Layoffs (TC+)

As big players bring talent back to the pool, this is a good opportunity for startups to snatch them up, according to recruiters. Startups are looking for candidates who demonstrate strong ownership, initiative, autonomy and responsibility, Zack Skelly, head of talent at cryptocurrency-focused investment firm Dragonfly, told TechCrunch. “A ‘no task is too big or too small’ mentality.” But for people looking to move into crypto, it’s not an easy time, Dan Eskow, founder of web3 talent agency Up Top, told TechCrunch. “I won’t sugarcoat it…those who really want to pursue it, however, should build their personal bests,” Eskow added.

Web3 games should focus on sustainable economies, says Immutable co-founder (TC+)

Although the crypto gaming industry remains below its 2021 peaks, it did garner substantial venture funding last year. But looking to the future, the subsector can look beyond tokenomics to grow and sustain itself in the long term. “We’re less interested in exploitative primary sales or cash grabs, but more interested in how people build long-term economies and games where a percentage of players trade in the economy every day,” Robbie Ferguson, co-founder and president. on Immutable, he told TechCrunch.

Injective Launches $150M Ecosystem Fund to Accelerate Interoperable Infrastructure and DeFi Adoption

Injective, a Layer 1 blockchain focused on building financial applications, has launched a $150 million fund ecosystem initiative, the platform’s CEO and co-founder Eric Chen told TechCrunch. Its new ecosystem fund is backed by previous investors like Pantera and Jump, as well as other web3 players including Kraken Ventures, KuCoin Ventures, Delphi Labs, Flow Traders, Gate Labs, and IDG Capital. The $150 million was pooled capital from the consortium and will be deployed in “a few years,” Chen said.

DCG’s Crypto Lending Subsidiary Genesis Files for Chapter 11 Bankruptcy

Genesis Global Trading, a subsidiary of cryptocurrency conglomerate Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy in court for the Southern District of New York (SDNY). Genesis Global Holdco and two of its business lending subsidiaries, Genesis Global Capital and Genesis Asia Pacific, filed voluntary petitions under the bankruptcy code for SDNY, according to their news release. “The other Genesis subsidiaries involved in the custody and spot trading and derivatives businesses and Genesis Global Trading are not included in the presentation and continue the client’s business operations,” it added.

the last pod

For this week’s episode, Jacquelyn spoke with Mo Shaikh, co-founder and CEO of Layer 1 blockchain Aptos. Shaikh is a three-time founder with more than a decade of experience in financial services, as well as blockchain technology and cryptography. He also worked on blockchain strategic partnerships for Novi (Facebook’s wallet) and was the director of strategy at ConsenSys.

Last year was huge for Aptos, as the blockchain went public and raised around $400 million in funding, amid a bear market. The new Layer 1 garnered backing from major investors like Andreessen Horowitz, Circle Ventures, and the now-defunct FTX Ventures, to name a few. And while the market is down, its token, APT, has skyrocketed more than 400% year-to-date, according to CoinMarketCap data. Looking ahead, Aptos plans to focus on making 2023 its “intent” year, Shaikh said.

We also discuss:

• What it’s like to pitch in a bear market
• Builders on the Blockchain
• Business development plans for 2023
• Incorporation of people not in the space
• Future of interoperability and the multi-chain world

subscribe to Chain reaction in apple Podcast, Spotify or your favorite pod platform to keep up with the latest episodes, and please leave us a review if you like what you hear!

follow the money

1. QuickNode raises $60M at $800M valuation to become the “AWS or Azure of Blockchain”
2. Former FTX US President Crypto Trading Infrastructure Startup Architect Raises $5M From Coinbase and Others
3. Spatial Labs raises $10 million to create products and shopping experiences using augmented reality
4. Blockchain sharding startup Calimero Network closes $8.5 million round
5. Asset Reality raises $4.91 million to build a crypto asset recovery solution

This list was compiled using information from Messari as well as TechCrunch’s own reporting.