Forbes discusses the impact of Web3 on future work dynamics, moving towards a freelance economy and aiding in professional development.

Recently, Twitter founder Jack Dorsey and Dogecoin advocate Elon Musk have expressed their thoughts on Web3 on Twitter. Additionally, Forbes magazine published an article last week discussing the impact of the arrival of the Web3 era on future work.

Impact of Web3 on Future Work

Unlike early websites where static content and Web2 are controlled by a single organization or entity, Web3 features decentralized data and platform management. This characteristic, driven by people, makes it not just a technology but also a social movement.

As the concept of Web3 gains popularity this year, it will change people's views on work and have an impact on the overall employment landscape.

Culture and Values

The article first cites the Great Resignation of 2021, where in September alone, 4.4 million Americans quit their jobs, setting a historical record. As those who resign find new ways to make a living, many will consciously or unconsciously understand the values and culture of Web3.

Julia Lipton, founder of Awesome People Ventures, believes that Web3 projects are often more inclusive and supportive. Given the nature of shared ownership, success is closely linked to the capabilities of contributors in their network. This dynamic creates a more collaborative work environment.

En Canada, community lead of Wonderverse and Web3 Baddies, also highlights the importance of this trend for younger generations, stating, "Millennials and Gen Z make up the vast majority of Web3. They want to feel a sense of belonging at work and respect for autonomy and boundaries. Because the spirit of Web3 is about collaboration, cooperation, and reciprocity, many Web3 companies are ready to attract a large number of young talents."

Freelance Economy

Another concept within Web3 lies in DAOs (decentralized autonomous organizations), where people can choose work from multiple DAOs and earn income from various sources based on their terms.

This new freelance economy differs from the gig economy, as there is no central company managing each worker's tasks and wages, and income is not linear. Furthermore, freelance contractors working for Web3 projects can earn a combination of stablecoins and tokens, with unlimited upside potential.

David Phelps, a Web3 entrepreneur and investor, further explains, "In a way, Web3 is an extension of the gig economy. It views every worker as an autonomous builder who can sell their services or develop their projects. However, from another perspective, Web3 also condemns the gig economy because it offers workers the opportunity to collectively support and organize within a public structure, which was rare before."

Moreover, Web3 can easily raise funds and continue to expand through communities that align with its values.

Professional Development

Research from the online learning platform Udemy shows that 80% of people are more committed to work if they have the ability to learn new skills. However, in 2020, only 38% of the workforce received skill upgrades, mainly due to the time and cost of learning. Web3 offers a solution: the Learn-to-Earn model.

For example, exchanges like Coinbase grant new users incentive tokens and educate existing users on new features. Projects like Solana and Braintrust have raised hundreds of millions of dollars, providing creators with rewards, investments, and tokens for learning how to build new projects within their ecosystem. Fundamentally, these investments in their community are prepayments for future growth and adoption of their network.

As the concept of Web3 continues to evolve, the opportunity cost of not working to attend classes may deter some, but Learn-to-Earn allows them to view learning not only as a money-making opportunity but also enables them to create more economic value in the long run.

At present, Web3 is still a relatively new field with mixed reviews, as many still see it as a game exclusive to capitalists. However, its core values are quietly changing how people think about work, and in the future, the gig and freelance work model may become quite common.