How to earn money as a web3 developer

We’ve heard a lot lately about web 3.0, crypto, the metaverse, blockchain, and so on.


But what exactly is web3 and how can developers make a living off of it?


Today, we will answer those questions. As we transition from web 2.0 to web 3.0, it’s important to be aware of the new opportunities and challenges that lie ahead.


As usual, early adopters of this new technology have to face the unknown, but they also have a higher chance of reaping the benefits in the long term.



What exactly is web 3.0? 🕸

When the web was first introduced to the world, it became a game-changer. But at first, only to the few people that could actually use it.

The inventor - Sir Tim Berners-Lee - created the world wide web as a one-way communication channel, later known as web 1.0.  

As the technology developed, it became more and more sophisticated, and we started introducing two-way communication: being able to interact with users across the web. This was coined as web 2.0. Instead of just consuming content as we do on TV, for instance, this enabled the creation of social media, communication platforms, and many other channels of interaction.

The problem with web2 is that we rely on private entities to communicate, share content, and interact.  Google, Microsoft, and Meta are just a few examples of big corporations that we all use one way or another, and that have an insane amount of power and influence over billions of people. Today, we are experiencing a shift from web 2.0 to web 3.0.

Web3 aims to decentralize the current web model, by resorting to blockchain and other technologies. This will enable us to use the internet as it was first designed for: a publicly shared space, where we’re all anonymous owners of the web.


We’ve covered web 3.0 in-depth in this article.


How to earn money with web3 for developers 🤑🧑‍💻

Even though we’re still in an early stage of web 3.0 development, there are already numerous ways to earn money with web3:


Hackathons


Hackathons have been around for a while now, and their popularity skyrocketed in recent years. However, we are starting to see more and more web3 organizations hosting hackathons. 


If you already have experience in web3 development you’re one step ahead of your peers. At TAIKAI, for instance, we’ve hosted hackathons from TELOS, Harmony, Caduceus, and other blockchain and metaverse companies.


Besides that, we’re the first hackathon platform to have a token reward system for the best projects. This means you can earn crypto tokens by entering any hackathon - regardless of whether it’s from a web3 organization or not - and submitting a good project.


Check our latest hackathons here.


Web creator platforms


There are already several platforms that allow users to be paid for their data, contrary to the current landscape where corporations sell and use data as they see fit. 


You can also join marketplaces like Bepro Network which offers resources and work in exchange for tokenized rewards.  


Web 3.0 technology and decentralized apps (dApps)


One of the core ways to earn money in web3 is by developing dApps. For developers, this might mean joining a startup or organization as an employee, but you can also work as a contributor to projects you believe in (or you develop yourself).

dApps will replace our current app system, not necessarily in terms of interface or design, but more on an internal level, by leveraging decentralization.


Bounties


Bounties are specific tasks provided by an individual or organization, in exchange for a reward. These are great for developers looking for quick and fun projects, or better yet, to make some extra money. 


How is this related to web3?

You can complete a bounty from a web3 organization. Take Caduceus, for example - a metaverse infrastructure builder that hosted a bug bounty on our platform. Their goal was simple: find bugs in their platform and submit them. Each valid submission would earn between 100$ to 10,000$, depending on the severity level of the bug.

There are also other companies promoting bounties and offering payments in cryptocurrencies, so keep an eye out for that.

Grants


Another way to make a living from web 3.0 is through grants, funded by the community. If you have a project that you would like to develop but need resources and funding, a grant may be the key to getting started.

You can find several grants platforms with a simple google search. If your project has potential, the community will back it up!


Hiring Challenges


A hiring challenge is a step in a recruitment process meant to assess your soft and hard skills. 


At TAIKAI, we’re taking this assessment to the next level by rewarding crypto to candidates that submit a valid project for the challenge. Even if you don’t get the vacancy, you’ll still get paid crypto tokens for your dedication and commitment to the open spot.

You can learn more about hiring challenges and open positions right here.

Final Thoughts

Web 3.0 is here to stay and there are endless possibilities for you to earn money and take a piece of the pie 🥧.

For devs in particular, web 3.0 opens many doors. There is a market with exponential growth and opportunities abound. 

Whether you want to join a solid project or develop your own, the field is yours.


Join us and become one of the 50,000 innovators already using TAIKAI! Head over to our latest hackathons and enter a hackathon today ⚡

Carlos Mendes
Carlos Mendes
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