Recently we released an article stating the benefits and challenges of working in a crypto start-up. Today we decided to expand the topic and detail the experience of working in a fast-paced, engaging environment, namely Below, we are going to dive down into how is life working in a Crypto start-up. Before that, it's worth establishing from the beginning a short definition of a Crypto start-up.
What is a Crypto start-up?
People usually refer to a newly formed company as a start-up, which usually has positive momentum in growth, based on the usability and demand of the product it offers. In the Crypto world, things are, at their base, no different. A Crypto startup is a company built on the blockchain which offers core products, based on blockchain technology. These core products can range from decentralized alternatives to traditional finance, market places where users can exchange digital assets as well as play2earn videogames.
Nevertheless, the entrepreneurial environment is a lot harsher in the blockchain space, due to the increased competition and the decentralized nature of the industry. On the other hand, collaboration is a lot tighter within the crypto space, since entrepreneurs have a common goal in mind: mainstream adoption of their projects.
What to expect when working in a crypto start-up?
We can refer to the first aspect of schedule flexibility. It is most likely that the standard 9 to 5 office schedule won't apply to you most of the time and that will help you reach a better life-work balance. However, there is a hidden side of the coin. As for a consultancy company, for example, there will be periods of low activity and periods of peak activity in which you should expect tight deadlines or heavy work for a sustained period of time. So, the periods with high schedule flexibility may only be the calm before the storm. That being said, you should be prepared for periods of extended work outside of the normal working hours. This is commonplace in every start-up, but more so in blockchain, where things are changing rapidly at a massive
Moving onto the technical side of a Crypto start-up, it is fair to say that you will have the possibility to explore capabilities and innovate where possible. You will likely be expected to take the initiative and go above and beyond in trying to find that niche product that can boost the start-up you're working for. There are a lot of new exciting Crypto projects that promise to bring the ability for you to achieve new peaks in your business or provide new utility from the start. Thus, the chances are that if you work for a Crypto start-up, you will likely be involved in developing a product or a feature that can disrupt the way we look at the internet today.
That leads us to discuss the uncertain and volatile nature of the Crypto world. Naturally, this would be felt in your day-by-day work in a Crypto start-up. As there are no general instructions manual for how a start-up should develop, you should be aware that you will be looking to solve many unknowns and there is thin ice between making it right or failing. On top of that, you will be likely looking at combining the technology assets that you want to create in Blockchain with the financial aspects of your project.
This can prove to be tricky, as you will constantly need to check your work against budget, profit margin, and different regulations, depending on the region or market that you want to break in. As a rule of thumb, the more worldwide you will aim to go, the more difficult it will be to match the technology and financial aspects of your projects.
Don't forget to enjoy it!
Looking at the previous points, there is one ability that stands out for you to succeed in a Crypto start-up and that is the ability to adapt. There are many unknowns and points in which you will have to rely on your pure instinct to make the best choice going forward. Last but not least, working in a Crypto start-up should be exciting and fun. Even when the situations are rough, you should never forget to enjoy the journey you embarked on and make the most of the experiences you are facing and the people you are meeting. The Crypto market is the fastest growing sector at the moment and for sure, you will feel this in a Crypto start-up. For this reason, working in such a company may be the most complete professional experience, you might ever have.
How’s life at HYVE?
You might have noticed our increasing presence on social media, with regular posts on TikTok and Instagram. We at HYVE like to give out sneak peeks of our daily activity, courtesy of our marketing department. In spite of the joking and fun atmosphere, there are lots of periods of intense work, especially before product launches - we currently have something under wraps which involves many of our departments, namely Graphic Design, Marketing, and Development. However, these intense periods bring us closer together and create lasting personal and professional bonds.
A good example of a concerted and constant effort has been the rebranding process undertaken this year. Starting from the website redesign and moving onto the platform upgrade, we have been constantly upgrading user experience, with our departments closely coordinating with one another to deliver everything on time. Nevertheless, there is lots of outside coordination to be performed, with many external partners involved in our launches and promotion.
Working at HYVE requires you to be a very adaptable individual and most importantly, to be willing to always learn new skills. We like to pride ourselves in our open and fostering culture, based on the relationships built in person due to our in-person policy, but some companies prefer remote work. If you would be interested in trying out a job within a crypto start-up, you should explore the listings on our platform. Lately, many companies have posted job listings, with the latest being SKChain, a leading blockchain advisory firm - make sure you regularly check out our platform for any openings!