Fort Worth, Texas, September 10th - Consensys, the leading blockchain and web3 software technology company, shares the findings of its “Web3 Workforce Survey'', one of the most comprehensive workforce surveys in the web3 space, conducted through international online research data and analytics technology group, YouGov. The research reveals record-high confidence in the direction of web3 and levels of trust in the values that underpin the industry. On the other hand, with men outweighing women and non-binary people by more than two to one, the results offer up a stark reminder for the significant need for improved gender diversity in the field.

The survey was commissioned to shed light on the future of work in web3 and explore what drives this unique workforce. As one of the largest, global web3 companies, Consensys wants to serve as a pioneering force of change.

YouGov’s full global report is available here.

The confidence on web3 future is extremely high

The survey results present a compelling picture characterized by widespread confidence and job satisfaction across the industry and a strong desire for a web3-led future. Almost nine out of ten professionals (86%) are confident about the future potential of web3, and 88% would highly recommend peers to contribute or work on projects. The industry is underpinned by a crop of young talent - 83% of respondents were between the ages of 18-44 - that strongly believe a decentralized future plays a pivotal role in reshaping the world. 

Values and community matter most for web3 workers

The values behind web3 (51%) are the most important aspect of keeping professionals involved and committed to the industry, followed closely by people and culture (48%). The top five most valued aspects identified by respondents are: Decentralization, Innovation, Transparency, Freedom and Self-sovereignty. Decentralized Finance is the main area respondents find most interesting (51%), followed by dApps (40%) and privacy solutions (39%).

The fact that 82% of respondents have attended community events in the past year further highlights the community-driven and highly-engaged ethos that makes the industry a unique and attractive field. 

“Any organization would be remiss to ignore the needs of a workforce that is rewriting the rules for long-standing societal pillars—financial, political, and social. Moreover, this is a workforce that is showing what living by these new rules can look like. As innovations in web3 flourish, society will thrive and people will want more autonomy and freedom to work in a way that makes sense to them,” says Tanya Simmonds-Rosa, Head of  Employee Programmes and Internal Communications at Consensys. “Web3 has proven to be a catalyst for evolving the nature of how we work. It asks us to critically evaluate our current methods and chart new paths that will move us to more decentralized, community-driven, and inclusive work environments. If we do not take the findings from this survey seriously, we risk losing the next generation of talent critical to innovating at the level the world needs,” said Simmonds-Rosa.


Innovative and competitive compensation crucial to web3 workers

The research reveals shifting mindsets around the reliability, trust and desire to use traditional financial services. This is highlighted by the fact that although two-thirds of workers get paid solely in fiat (67%), only 30% feel comfortable with this type of payment method. Furthermore, half of the respondents prefer a payment method mix between crypto and fiat, but currently only 17% receive this. Furthermore, innovative and competitive compensation - either those working for an employer or independently - is crucial to web3 employees. Over half of those working for an employer (51%) deemed this important and 40% to those working independently. 

These findings indicate a growing demand for more flexible and modern compensation structures, one that chimes in more broadly with the ethos of web3, suggesting that web3 firms would be wise to consider offering compensation via fiat only, a mix of fiat/crypto and crypto-only. 

Consensys continues to lead the charge around competitive, web3-centric compensation, recently implementing the option for all employees to be paid in crypto. The belief that it is  a necessity to build, use and promote democratized payment systems is ingrained within the web3 talent, and was the force behind the company’s decision to include crypto as a choice in compensation.

Digital nomad lifestyle highly valued

The remote working lifestyle remains an important factor to retaining talent within web3 with two out of three respondents considering themselves digital nomads. Additionally, 72% of professionals see remote and flexible work opportunities as a key reason for staying in their current job. 

Diversity remains limited

Consensys’ research reveals the strides the industry still needs to take to make web3 more accessible as an occupation to a global workforce. The people that work in web3 tend to be younger men (69% of respondents) between the ages of 25-44 (78%). There are more than two men for every woman in the industry, and women make up fewer than three out of ten web3 professionals (29%). In addition, only 17% of the web3 workforce is over the age of 45, a figure that drops to 2% for those aged 55+. These disparities underscore the importance of fostering greater diversity and inclusion within web3 to drive innovation and ensure its sustainable growth.

Dan Spuller, Senior Director of Industry Affairs, at the Blockchain Association, comments: “The results of this survey affirm the confidence that Web3 professionals have in the future of the industry, highlighting the importance of maintaining a community-driven ethos. Additionally, it emphasizes the crucial role our industry is playing in economic development by driving innovation and attracting talent to contribute to the growth of this emerging technology.”

About the Methodology

Commissioned to YouGov, the leading market research company, this global anonymous survey captured the skills, motivations and concerns of web3 professionals in different regions of the world. YouGov conducted device agnostic online interviews of 498 individuals aged 18+ working at 35+ web3 organizations. The fieldwork dates from 08/01/2024 - 26/03/2024. 

Participating organizations

Consensys is proud to partner with 30 web3 pioneers to create our inaugural Web3 Workforce Survey. 

Participants include, Banxa, Bitso, Blockchain Association, Blockfence, ChainPatrol, Consensys Mesh, Cyvers, Enterprise Ethereum Alliance, Forta, Galxe, Gitcoin, Safe, GoodHive, HAPI, Hexagate, Honey Island Capital, Hypernative, Intract, Kiln, Kyber, Lemon, Liminal Custody, Mendi Finance, Nansen, Radarblock, Texas Blockchain Council, Velocore, WalletGuard, XMTP and Yooldo.

About Consensys 

Consensys is the leading blockchain and web3 software company. Since 2014, Consensys has been at the forefront of innovation, pioneering technological developments within the web3 ecosystem. Through our product suite, including the MetaMask platform, Infura, Linea, Diligence, and Phosphor, our NFT toolkit, we have become the trusted collaborator for users, creators, and developers on their path to build and belong in the world they want to see. Whether building a dapp, an NFT collection, a portfolio, or a better future, the instinct to build is universal. Consensys inspires and champions the builder instinct in everyone by making web3 universally easy to use and develop on. To explore our products and solutions, visit https://consensys.io/.

About YouGov 

YouGov is a global online research company, offering insight into what the world thinks.   We speak daily to our panel of over 24 million members to understand opinion and behaviors around the world.  We have a strong reputation as a source of accurate data, and we’re trusted by the world’s biggest brands to get it right, making us the most quoted market research source in the world. YouGov grows daily, with over 40 million surveys every year and 20 years of history. We call it living data.  YouGov. What the world thinks. For further information, visit yougov.com

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