● KuCoin Survey states Indian Web3 professionals fuels a promising Web3 future in the country
● India holds better Web3 Career Opportunities for Young Turks, versus Global
● 80% Indian Web3 professionals are young, of whom 80% are under the age of 30 years, significantly younger than the global average
● 47% of Indian users who have heard of Web3 but never worked in the industry have joined Web3-related communities, 23% pursued related education, 14% are looking for jobs
Mumbai, NFAPost: KuCoin, a global cryptocurrency exchange that makes it easier to buy, sell, and store cryptocurrencies, announced the findings of its global survey report, “Journey into Web3”. The survey unveils details about India’s promising talent pool that bears the potential to lead the world in the Web3 space.
In India, cryptocurrency, metaverse, and NFT (non-fungible tokens) are the most popular and desired fields for a Web3 career. Indian users interested in working in Web3 show a stronger passion for metaverse, NFT, and blockchain-based gaming, over-indexing the global average.
The report showcases that the youth is fueling the future of Web3 in India and Indian Web3 professionals are younger than their global counterparts. Moreover, Indian Web3 professionals are young, of whom 80% are under 30 years of age, significantly younger than the global average.
As per the survey, 47% of them have joined Web3-related communities, 23% have received related education, and 14% are looking for jobs in the industry.
The study also states that, 72% of Web3 professionals in India are very happy with their careers so far, recognizing the industry’s benefits such as space for growth and innovation and better welfare.
Additionally, 60% of surveyed Indian users who never worked in Web3 are very interested in exploring the career, mainly motivated by space for professional growth and a better salary package in the industry.
The report flagged the shortage of women-led communities, educational resources, and the stress of fast-paced industry as key challenges for Indian women to work or invest in Web3.
Unveiling the survey findings, KuCoin CEO Johnny Lyu said Web3 has been one of the most trending terms in the 2022 tech scene and it will be the next iteration of the internet based on blockchain technology.
“With Web3 being a strategic focus, KuCoin conducted this global survey to understand how people think about Web3 as a career option. The findings of our “Journey into Web3” survey reveals the bright Web3 future in India with heightened interests from a diversified talent pool. We’re optimistic to see more women-led communities in the near future which will boost the comprehensive Web3 ecosystem in India,” said KuCoin CEO Johnny Lyu.
Commenting on the survey, KuCoin India Head of Branding Medha B Dey Roy said as per the survey findings, Indian youth have huge potential in disrupting the Web3 space.
“However, we noticed that there are fewer women-led Web3 communities as compared to male. The survey also shows that many women are hesitant to engage in Web3 due to perceived limited access to related educational resources and potential stress from the fast-paced industry,” said KuCoin India Head of Branding Medha B Dey Roy.
KuCoin India Head of Branding Medha B Dey Roy also said the good part is, women are recognised for their talents in building trust in workplaces and communities, further promoting diversity and inclusiveness, which is key to facilitating Web3 culture.
“This translates that women are more recognized for their transparent, empathetic leadership style and long-term mind-sets. These skill sets are crucial and play an important role in building a stronger Web3 ecosystem. Thus, we’re looking forward to welcoming more women to come in and disrupt the Web3 space,” said KuCoin India Head of Branding Medha B Dey Roy.
In this survey, Web3-related industries include cryptocurrency, metaverse, NFT, DAO, DeFi, Dapp development, blockchain-based gaming, and DAO and the Web3 Professionals are defined as those who have worked in Web3 industries, whether full-time, part-time or freelance by project base.
The 34% of surveyed Indians are professionals who have worked in Web3-related sectors. The survey respondents were polled from June 20th to July 3rd, 2022, and the responses were collected via KuCoin’s social media (Twitter and LinkedIn). No quota on geography, gender, age, or income was set.
About KuCoin
Launched in September 2017, KuCoin is a global cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform focused on inclusiveness and community action reach, it offers over 700 digital assets. Currently, it provides Spot trading, Margin trading, P2P fiat trading, Futures trading, staking, and lending to its 20 million users in 207 countries and regions.
In 2022, KuCoin raised over $150 million in investments through a pre-Series B Round, bringing total investments to $170 million with Round A combined, at a total valuation of $10 billion. KuCoin is currently one of the top 5 crypto exchanges, according to CoinMarketCap. In 2021 Forbes named KuCoin one of the Best Crypto Exchanges. In 2022, The Ascent named KuCoin the Best Crypto App for enthusiasts.
