Web3 startups vs established crypto projects: differences in working culture

Web3 startups vs established crypto projects: differences in working culture

In the ever-evolving landscape of this digital economy, the battle lines between Web3 startups and established crypto projects are drawn not just over technology or market share, but in the very essence of their working cultures. Each one embodies a spirit unique to its stage of development and vision for the future, crafting environments that are as distinct as they are dynamic.

This distinction in essence is not merely a matter of size or age but a reflection of the diverse philosophies, missions, and visions that drive these entities forward. At the heart of each lies a core spirit: for Web3 startups, it's the audacious desire of exploration and invention; for established projects, the seasoned wisdom of pioneers who've charted the unknown and won.

These shifts are not just abstract concepts but are felt in the working cultures, decision-making processes, and the very products they bring to life.

Therefore, you wonder - should you join an early-stage startup or a well-established web3 company? Each option offers its unique advantages and considerations, so you should choose very carefully. But before that, don't forget to sign up on our platform and keep going with your freelancing journey, this time in Web3: jobs, offers or tasks are waiting for you!

Let's get familiar...

Before we dive into this article, we want to make sure that everyone who reads this has a panoramic view of what we are talking about, as we aim to provide you with valuable insights to help guide your decision-making process. So, let's meet the stars:

Web3 startups - the agile innovators

Web3 startups are the new kids on the block(chain). Bursting onto the scene with fresh ideas and an insatiable hunger for innovation, these entities are characterized by their agility and entrepreneurial spirit.

In these incubators of innovation, flexibility is the name of the game. Hierarchies are flat, communication lines are short, and creativity flows freely. Team members often wear multiple hats, jumping between coding, brainstorming marketing strategies, and customer support with the ease of a seasoned juggler. The culture here is one of learning by doing, where failure is not a setback but a stepping stone to the next big breakthrough.

The work environment in a Web3 startup is electric, fueled by passion and the palpable sense of being on the precipice of something revolutionary. Collaboration is key, with cross-functional teams coming together to solve complex problems in ways that defy conventional wisdom. The pace is fast, mirroring the rapid developments in blockchain technology, and flexibility is crucial, allowing the startup to pivot in response to market feedback or technological advances.

Moreover, one enticing aspect of joining an early-stage startup is the potential for equity or tokens as part of your compensation package. By receiving ownership or tokens, you become a stakeholder in the company's growth and success. If the startup flourishes, your financial rewards can be substantial (and if not... well.. there wouldn't be financial rewards... but that's the risk you take!).

In addition, you are more likely to be given greater responsibility and ownership over projects, which can accelerate your career growth and provide opportunities for learning and development, because startups (whether they are Web3) or Web2 are often more willing to take risks and experiment with new ideas than established companies, which can lead to more innovative and disruptive products and services.

You should ask yourself the following questions:

  • Am I seeking a flexible work environment where I can also have fun?
  • Am I looking to collaborate rather than to be in a prestigious project that feels like a corporate firm?
  • Am I looking to be part of this movement and to hurry my career growth?

The OG's - established crypto projects

On the other side of the spectrum, we have the ones that laid down the tracks for the blockchain revolution. With years of experience under their belts, these projects boast structured environments, refined processes, and a depth of knowledge that only time can bestow. The culture here is one of deep specialization, where experts delve into the intricacies of blockchain technology, cryptography, and financial systems to enhance and expand the project's foundation.

Working in an established crypto project brings a sense of stability and direction, as it comes with the reputation the company/project has. Goals are clearly defined, roles are specialized, and there's a roadmap guiding the journey ahead. The pace, while still dynamic, is more measured, reflecting a strategic approach to growth and development. Moreover, these projects typically have more resources and established infrastructure, which can provide a more stable and supportive work environment.

Established companies are often more procedural and structured, which leads to better work-life balance for employees.

These projects often have a global presence, offering opportunities for collaboration with a diverse international team and exposure to a wide array of perspectives and practices. Therefore, through training programs, mentorship, or working with experienced professionals, you get plenty of opportunities for professional development.

Let's see what our new Head of Community has to say about working in a web3 startup

This week we appointed a new Head of Community to bridge the gap between our supporters and the team behind the project. Teun has been a prominent member of our community, providing valuable feedback and ensuring regular comments are heard.

TTime joined HYVE this week as our new Head of Community. Make sure to follow him on X!

Before formally assuming his role, Teun has been in constant contact with the extended team, being onboarded into the intricacies of working at HYVE, despite the time difference and location. We asked him about his experience joining a web3 startup and how his first week of work has been:

HYVE has always been very approachable and receptive to feedback. Questions were always answered quickly, showing that suggestions were accepted.
Even during price drops and bearish periods, the team was committed to building, which was reassuring and provided a feeling of positivity. Overall, the atmosphere seems laid-back and relaxed, with a strong focus on constantly upgrading the platform based on user feedback and own innovations.
Of all WEB 3.0 projects, HYVE attracted me also especially due to its sheer utility it brings to the space: a safe haven for entrepreneurs and businesses alike.

Make sure to congratulate Teun for his new role and give him a warm welcome by following him on X!

To sum up...

There you have it - a complete article based on the benefits of both parts of the industry. Now it's your turn, which one would you prefer to work on?  The decision ultimately depends on personal preferences, career goals, and risk tolerance. Startups offer greater potential for innovation and career growth but come with greater risk and less stability. Established companies offer stability and reputation, but may limit opportunities for innovation and personal ownership.

Whatever you go for, the choice reflects more than just a career path—it's a preference for a particular working culture, as both environments offer unique opportunities for growth, learning, and contribution to the future of finance and technology.

The digital landscape continues to unfold, and the distinction between these cultures might blur, but their collective drive toward a decentralized future remains constant, and so do we at HYVE!