Metaverse Jobs are a Myth! When Big Tech Collapse, Jobs Disappear

Arti

August 1, 2022

3 mins read

Metaverse got popular after Facebook’s name change. But now the hype is dying so is Metaverse jobs.

Meta Chief Executive Officer Mark Zuckerberg’s big bet on virtual reality and other nascent, immersive technologies encouraged companies of all stripes to look for experts in those fields, which may have created “short-lived hype from the demand side,” Revelio Labs economist Jin Yan said. Now, as employers recalibrate their hiring needs and labor budgets amid growing concerns of a recession, that hype has come face to face with a sobering, and fully non-virtual, reality. New monthly job postings across all industries with “metaverse” in the title declined 81% between April and June, according to workplace researcher Revelio Labs, after surging in the months following Facebook’s rebranding last fall. The dropoff coincides with a broader slowdown across the tech sector, which has prompted layoffs and a decline in Metaverse jobs, leaving workers from the Bay Area to Bangalore increasingly rattled. Metaverse Job postings in tech hubs like San Francisco and Austin, Texas, dropped 8.4% in the past four weeks, according to the job site Indeed.

When Meta CEO Mark Zuckerberg refocused his company on the metaverse in June 2021, it was just before global financial markets reached their temporary peak in November 2021. Since December 2021, things have been mostly downhill due to supply shortages, the Ukraine war, and high inflation.

Technology companies, especially Meta, have been hit hard: Low user growth, a weakening online advertising market in recession, and simultaneous billion-dollar investments in the Metaverse bet have taken their toll on Meta’s share price. Since the beginning of the year, Meta has lost about 50 percent of its enterprise value.

As a result, even the highly profitable Metaverse pioneer has to watch its costs and announced fewer new hires and project cuts at Meta’s Metaverse division, Reality Labs.

Here are 5 metaverse jobs that might still exist even after things go down:

Metaverse Research Scientist

Metaverse research scientists will be responsible for building the foundation of metaverse applications. They will not be focusing on developing basic digital models in real-world scenarios but will also build a visible and actionable infrastructure to build metaverse solutions.

Blockchain Engineer

A blockchain engineer is technically responsible for implementing and creating a digital blockchain for enterprise solutions. The work areas of blockchain engineers typically revolve around technology consulting or data service firms. But in the metaverse, they will be responsible for creating and designing blockchain solutions. It is one of the metaverse jobs that will still exist in the future.

NFT Strategist

An NFT strategist will be required to have deep knowledge and understanding of blockchain technology and the metaverse domain. They will be responsible for analyzing industry trends to provide actionable insights and opportunities. NFT strategists will also create plans to combine NFT concepts, gamification, tactical implementation, and others.

Metaverse Planner

The metaverse planners create the growth infrastructure for metaverse businesses. They build a strategic portfolio of opportunities from proof-of-concept to pilot to development, which involves identifying market opportunities, building business cases, roadmaps, and others. It is one of the metaverse jobs that will still exist in the future.

Ecosystem Developer

The ecosystem developer would be in charge of coordinating partners and governments to ensure that the existing functionalities are executable on a large platform. They are responsible for enabling government investments in infrastructure and animating large communities for the participants of the metaverse.

The following are some ways that any business might benefit from getting involved in the Metaverse:

Many trends are bound to influence business and marketing, metaverse is one of them. The following are some ways that any business might benefit from getting involved in the metaverse.

Creating own NFT to raise brand awareness to promote their product. Creating NFT with a logo is simple for anyone.

Facebook is still in the early stages of its Meta transition. Facebook meta offering commerce and advertising at some point. Facebook Ads in the metaverse, build your virtual store, or create events such as immersive conferences.

Owning virtual real estate property can sell and hold events. It’s also an investment, you can open a store, stage online events, or even rent it out to others.

Games will be a major part of the metaverse. With meta, you can research possible ways to set up your own game, with NFTs creating your games

Metaverse Jobs are a Myth! When Big Tech Collapse, Jobs Disappear