As I began my career as a technical writer, I decided that my first article would be about bounties and bounty boards in web3. So sit back and relax as I explain what bounties and bounty boards are.
What are Bounties?
According to the Merriam-Webster Dictionary, “A Bounty” is “something that is given generously." This definition is similar to what "bounty" means in Web3. In relation to web3, rewards are offered as tokens as "bounties" in exchange for specialised work.
A Web3 bounty is a great option for professionals and blockchain projects like DAOs or Defi.
In essence, bounties are given to Web3 engineers and developers as compensation for work done. In addition, bounties can also incentivize a Web3 form of freelancing, as you are rewarded for solving a problem whenever a task is completed.
According to Forbes there is a scarcity of Web3 talents, which is making bounty projects become a popular way to get people's interest. Hence, not all organizations or Web3 companies can afford a full-time Web3 hire, considering that full-time Web3 talents are among the highest paid in the tech ecosystem.
Some Web3 talents regard freelance work and bounty projects as better alternatives because they eliminate the hassle of negotiating the remuneration and functional terms associated with recruitment.
Why should you partcipate in a bounty program?
Bounties make it easier for businesses to complete tasks and for talent to earn more without having to go through the hiring process. Therefore, the following are key reasons why you should participate in a bounty program:
A potential path to secure Web3 work experience: In the tech ecosystem today, getting your first job is quite difficult because most organizations prefer to hire talents with prior work experience.
With the introduction of bounty programs, upcoming talents now have the opportunity and incentives to provide solutions to a task while being compensated for their efforts.
Potential reward system: bounties are the best way for top talents to get paid without having to be managed or report to a boss. If you work as a freelancer, bounty programs are ideal and recommended for you.
The simplest way to get a full-time job: Organizations may decide to hire you for a full-time position if you solve a bounty impressively. Bounties are essentially another method for organizations to find the best employees.
Improve skills needed in a real-world work environment: by completing several bounty tasks, you will have the opportunity to work with real problems and provide solutions to them. This way, you become more adaptable and have a better chance of landing a full-time job.
How to Get Started with Bounties.
Before we get into how bounties work, let's first define bounty boards.
What are Bounty Boards?
Bounty boards are platforms that enable web3 talents to meet, interact and find bounties that relate to their skill sets, thereby solving them to get paid. some common bounty boards include Chainwhiz, Layer3 ,VoiceDAO.
Now that we've defined what bounty boards are, let's look at how to get started with them.
Use bounty boards to find bounties to work on: The best way to find bounty tasks is to use a bounty board. Bounty boards make it very simple for talents to obtain and complete bounty tasks. A platform like Chainwhiz has simplified the process.
Choose a bounty and begin building: Browse the bounties to find one that aligns with your work and interests to work on. Bounties on the Chainwhiz platform are detailed enough for any talent to understand what they are expected to do.
Submit your bounty: You are mandatorily required to submit your bounties in order to get paid, while you can view all submissions from other talents on the Chainwhiz platform.
Get paid: reward is sweet right? this makes it the best part. Your reward is immediately sent to you once your bounty is approved and the organization is satisfied with your solution.
Conclusion
Finally, as we evolve and adapt to the remote or work-from-home culture, bounties are the best way to earn a decent living simply by completing tasks from the comfort of your own home.