The first batch of post-00s Web3 workers have already started to "exit the circle."

Written by: Golem

"I don't want to work anymore," I said in a disheveled state, my eyes vacant, staring at the conference screen during a midweek meeting (this time, the camera was off, so they couldn't see my appearance). After I finished speaking, the atmosphere in the meeting froze for two seconds, and then the editor-in-chief's voice broke the silence: "Golem, please stay after the meeting."

Fortunately, the editor-in-chief was really addressing my issues after the meeting, rather than trying to fix me. After several exchanges (mainly asking me what I like to do), we reached a consensus: I needed to get out and change my environment. So I went to Guiyang to see a music festival, and then I stayed in Kunming for a week.

Rock enthusiasts from all over the country are celebrating at the music festival.

Web3 is no longer the moonlight in my heart.

This state of low energy and confusion is not the first time it has appeared in me; since 2025, I have felt such emotions enveloping me multiple times. Many friends are concerned if it's because of work, after all, no one is happy being treated like a beast of burden.

Clearly, those who say this do not understand Web3. Our industry should be the one with the least amount of class distinction—higher salary levels than peers, the freedom to work remotely, flexible working hours, no clocking in or out, and an open and flat management structure. Any of these benefits, in today's competitive job environment, is a significant advantage over peers.

If we define the workplace generations by 5 years, today, when those born after 2005 are already making their mark in the Web3 workforce, I, born in 2002, can also be considered one of the first "post-00s" workers in Web3. Although these workplace benefits have not changed, Web3 is no longer the idealized dream in my heart.

I started my exposure to Web3 in school in 2021, and in 2023, I formally began systematically studying knowledge in the Web3 industry and entered the workforce as an intern. In my impression, this industry should be one of the most idealistic. I stepped into Web3 with a passion for blockchain, decentralization, and a spirit of "revolution," believing that this industry could transform our world for the better. Data ownership, personal privacy protection, trustless currency, decentralized finance, and the open and transparent Web3... I am determined to pursue my ideals and the career in my heart, ready to face challenges and take risks.

However, reality tells me that this industry only looks at "money". "I may have an overly idealistic and superficial understanding of Web3 and blockchain. I hope to have a deeper understanding in the new year," I expressed such expectations for myself to my boss at the end of 2024 when he asked me about my plans for 2025, just half a year after my graduation.

Journalists are certainly a good role to observe and learn about Web3. We input massive amounts of raw, firsthand industry information every day, which we organize and process before outputting it to the market. My originally positive perception of Web3 is also being reshaped. What have we experienced from 2024 to 2025? No one really cares about technological value anymore, no one talks about ideals, and everyone is focused solely on "money."

In the first half of 2024, we began to deconstruct VCs and project parties, unlocking low-priced chips to crash the market, creating false data through airdrops, and adopting a "launching coins is the endpoint" strategy of lying flat. We realized that under the technology narrative packaged by VCs, "money" is the goal. Later, the Meme season erupted, and players with ulterior motives built communities under the banners of decentralization and shared ideals. Third-rate developers were elevated under the adoration of "AI Agent saints," while celebrities from outside the industry received grand "treatment" for launching coins. Ultimately, everyone ended up in the cycle of launching coins → FOMO → abandoning the community/project, with "money" still being the goal. As all liquidity was about to be squeezed out, smart crypto people turned their attention to the stock market, using reverse mergers and establishing publicly listed companies as a means to seek "new money," while what these companies actually do remained unimportant.

As a result, my understanding of Web3 shifted from "This is an industry that can make the world a better place" to "This is just an industry that makes money relatively quickly," and I also turned my attention to "money."

Although I still keep an eye on industry trends, intensively research new projects and directions, my personal Twitter has not been updated with crypto-related content for a long time. Some fans have privately messaged me asking why I no longer publicly share projects (thank you for your recognition), and my reason is that aside from speculation, there are no projects that genuinely pique my interest anymore, which has diminished my desire to share.

"Golem, what you need is a sense of excitement, even in your work," the deputy editor said to me. This statement reminded me of my time in 2023 when I officially entered the industry and interned at a major company writing research reports. Back then, I was immersed in my obsession and excitement about Web3 every day. I would chase my mentor to discuss how cross-chain bridges actually facilitate asset transfers between two chains, what blockchain ethical issues the monopoly of L2 sequencers would bring, and I would ride my bike along the banks of Binjiang in Hangzhou while asking my friends: how should account abstraction be understood in simple terms? However, everything cannot go back to how it was.

Some materials organized for learning Web3 in the early stage of entering the circle.

Some people also told me that this is just because the market is bad or you haven't made any money. During a bear market, internal conflicts will intensify, and as long as we endure until the bull market, everyone will be happy. Money may be a significant factor, but the lack of a sense of achievement is the real reason.

The first batch of post-00s Web3 workers have already started to retire / fade out.

As social media is filled with stories of post-00s getting rich overnight from trading coins or having the post-00s dictate in the Web3 workplace, a portion of post-00s working in Web3 have quietly exited the scene. Many former peers have turned to other industries.

Wang Yue is a post-00s individual whose experience of entering the circle is similar to mine. In 2023, he interned at a certain VC and later worked at a Web3 company. However, at the end of July this year, he chose to resign and start a foreign trade business. Wang Yue told me that resigning does not mean he will no longer pay attention to Web3 and trading cryptocurrencies; if there’s a chance, he will still go for it, just not as invested as before. "Actually, I don't have much confidence in my ability to speculate on cryptocurrencies; comparatively, it might be more suitable for me to do practical work in the real industry,” were his final words to me.

Wang Yue discusses entrepreneurial ideas with foreign trade partners.

More and more people born after 2000 are starting to realize that the crypto space is a suitable financial choice rather than a suitable career choice. Taozi is a graduate student from Zhejiang University, who was active in student blockchain organizations during her studies and interned in Web3 projects, but after graduating, she became a civil servant in her hometown. "I am an experiential person, and I believe that life is greater than work, so I only see Web3 as a side job for financial management," Taozi explained to me why she chose not to pursue a full-time career in Web3 after graduation.

Even some entrepreneurial teams born in the 00s have begun to abandon Web3. "When I joined, the project had a Web3 plan, but for various reasons, it is still purely a Web 2 model now," said 00s Xiaoyu, who interned at a Web3 fund before graduating and later joined the current startup related to the Japanese second-dimensional community, where she has just taken over as CEO this year. We used to discuss Web3 in the same community, but since 2024, Xiaoyu has not focused her energy on Web3 anymore. As a startup, Xiaoyu told me they are still thinking of ways to complete their business loop and are not considering the Web3 plan in the short term.

But one similarity is that whether one is a civil servant or an independent entrepreneur, those who have been in Web3 can no longer tolerate the high-pressure environment of traditional industries. "My main job now is actually as a fortune teller, and my side job is just working," Mei Mei strongly agrees with the view that "once a person has rolled through Web3, they can no longer work a bit." Mei Mei is not a typical post-00s, but being born in May 1999, she was also once my learning subject.

However, she recently told me that she is gradually withdrawing from Web3. One reason is the company's business transformation; Meimei's company originally focused on Web3 games, but now it is engaged in investment businesses that are completely unrelated to Web3. "Web3 games are not part of the narrative in this cycle, and the boss wants to do something he likes and is interested in," Meimei explained the reason for the company's significant transformation.

Unlike others who still consider the crypto space as an investment option, Meimei has a higher degree of withdrawal and has even stopped investing in Bitcoin. "I think people who have no feelings about money really aren't suitable for Web3, because if you can't understand the psychology of speculators, you won't be able to feel the excitement," Meimei said, stating that she is that kind of person, and Web3 makes her feel exhausted.

The number of people treating Web3 as a lifelong career is gradually decreasing. Dahe is my junior from the same school; he got deeply involved in Web3 during college and, as a fresh graduate, he has already joined a Web3 company, earning over ten thousand a month right after graduation. This isn't uncommon in Web3, but it surpasses many fresh graduates. However, he recently told me, "While I'm young, I should make some money; if there's a bear market in the second half of the year, I'll take the civil service exam." Hearing such a response surprised me. Why would someone who enjoys the benefits have such distrust towards Web3? He said, "I just feel that working in Web3 is too unstable; once I make enough money, I will probably exit eventually."

Mountains are not mountains, waters are not waters.

The above conversation took place around the time I returned from my trip to Kunming.

As the cryptocurrency industry increasingly intersects with traditional finance, global regulations are embracing Web3, and Bitcoin, Web3, and blockchain have become well-known to the public. However, there have always been two Web3s in this world: one that focuses solely on the attributes of crypto assets, leading to its absorption by the traditional financial system; and the other that is constantly inward-looking, filled with projects that offer no hope of breaking through and only serve crypto elites.

These are two extremely fragmented Web3s. I used to be deeply immersed in the latter, but aside from seeing projects with lifecycles of only a few months, and the fluctuating account of "Happy Beans", and feeling a sense of emptiness, I gained nothing else. I began to understand why Wang Xiaoer would give free meal coupons to sanitation workers after making money. Apart from having various methods and models to redistribute wealth, can this industry really make the world a better place?

In Kunming's Dianchi Lake, there are several floating grass squares swaying with the waves, contrasting with the vast lake surface. I specifically checked, and these grass squares are measures used to improve water quality and reduce the degree of water eutrophication.

But this scene, where one is at the mercy of the wind and waves, really reminds me of being in the vast ocean of Crypto, losing direction and being battered by the wind and waves.

Note: The names Wang Yue, Taozi, Xiaoyu, Meimei, and Dahe in the article are all pseudonyms.