Why are TradFi companies hiring Web3 experts?

JP Morgan, a Wall Street giant and world-renowned financial services firm has posted a job opening for a Web3 and metaverse specialist. According to LinkedIn, there have been 74 applicants for the role to date.

The job description details the need for an individual contributor that will be part of the JP Morgan Web3, Crypto, Fintech, & Metaverse industry division. Furthermore, the role will require somebody with 4+ of financial services sales.

Interestingly, the details to do specify crypto or Web3 experience as a must-have. This demonstrates some hiring flexibility. As the world transitions to a more decentralised future it is valuable to note that skills are adaptable and interchangeable and many organizations realise there is a steep but fast learning curve within the Web3 space.

Demand for Web3 Professionals 

The trend of companies searching for Metaverse, NFT, and Web3 professionals has continued to grow during the period of volatility. It is not only developers that are in demand. Soft skills such as human resources, marketing, business development, and designers are required for projects to build on the current momentum.

As more companies come to understand the technology driving blockchain adoption and the potential opportunities of the metaverse, it is natural that innovative companies are thinking about the talent needs of the future.

If organisations are planning to build products and services within the metaverse and have been contemplating a longer-term metaverse strategy then getting the right team in place is key from the start.

TradFi and DeFi Merge

Although the Ethereum Merge took centre stage this week, there has quietly been a merge of TradFi and DeFi interests in supporting blockchain innovations. Increasingly, the swapping of services and experiences between both worlds is looking more collaborative in nature, signaling a new stage of exploration. 

Banking is just one of many service industries being disrupted by the scale, speed and transparency offered via blockchain technology. 

This has encouraged leading banks to embrace some branches of Web3 to offer traditional assets and funds that have a long-standing reputation with the public. JP Morgan is also investing in Web3. Ownera, a securities tokenization infrastructure company closed $20 million Series A funding this week and included the bank as a leading investor. 

From streamlining business processes to accessing new product revenue channels, blockchain technology is infiltrating most industries today. With the right people and skillsets, companies can take advantage of early market entry and contribute to the future of the internet.

Resources for individuals that wish to upskill are scattered throughout the internet. Although educational hubs exist within the different ecosystems, it is the Universities and student clubs like the Bentley Blockchain Association that are offering Web3 enthusiasts a space to learn about the opportunities within the blockchain industry for the future. For now, it is important to remember that many Web2 skills are transferrable.