Tech giants have executives like Google, FacebookAnd AmazonAre quitting their jobs to work in crypto, the exciting world.

Blockchain platforms such as Polygon and Circle have hired top talent from Big Tech firms lately, enticing them with the pitch of working on the next “big thing” in tech — Web 3.0, or Web3.

Ryan Wyatt quit YouTube in order to start a Polygon gaming studio. Wyatt joined YouTube in 2014 as a director of video content. He also wanted to compete with Amazon’s Twitch. 

Wyatt said in an interview that “when I first started YouTube Gaming nearly eight years ago I was the only person there”, CNBC. “We didn’t have a group. Gaming video was really getting popular.

“I view this opportunity in the same manner,” he said. He described current blockchain development stage as “early”, “exciting” and “exciting.”

Web3’s buzz has attracted many of the best minds in tech. Web3 is a movement that proposes to overhaul the internet so popular services can be moved over to more decentralized technology like blockchain.

This list also contains the names of Silicon Valley talents who are jumping ship to crypto. Sherice TorresNovi was the previous chief marketing officer at Facebook’s crypto-payments unit. Circle employed her in January. Pravjit Tiwana (Amazon cloud exec) fled Amazon to be with crypto exchange Gemini, where she is now its chief technology officers.

David Marcus, who was the head of Novi in the past, has resigned. Marcus is still announcing his next moves, but he has been tweeting praises for Web3 and its services.

Marcus posted last month that he felt “uniquely connected” to the community of crypto/web3 builders.

According to experts, the rapid growth of the industry is one reason why tech professionals are attracted to it.

CNBC spoke with Alex Bouaziz (CEO and cofounder of Deel payroll software company).

It is being seen as the future by many tech companies, much in the same manner that Amazon and Facebook were in the past.

Based on data from BlindA social network for technologists, bitcoinFor software engineers, Coinbase can offer up to $900,000.

This has led to a surge in investment into cryptocurrency companies, which allows them to offer lucrative compensation packages for high-paying employees. Blockchain Start-ups raised a record $25 billionAccording to CB Insight, there was $2.5 billion in venture capital funding last year.

Stock option plans are a common way for employees to own shares in tech start-ups. The valuation of private crypto-companies is soaring. This means that early employees may be eligible for large payouts in case there’s a takeover, or an initial public offering.

The trend isn’t limited to the U.S.

Hays Recruitment says that it is seeing the crypto industry target people from Amazon, Facebook and other sites like Amazon. AppleThe U.K., Ireland, and other countries are also available.

CNBC’s James Hallahan told CNBC that as more companies are created in crypto/Web3, we expect the tech market to grow more competitive. He is director for U.K. and Ireland at Hays’ technology division.

Web3 was criticised by Silicon Valley giants. Twitter co-founder Jack DorseyIt’s too centralized and controlled only by a small group of venture capitalists, argues Rieger. TeslaChief Executive Officer Elon MuskIt is seen as more of an “marketing buzzword” rather than a reality.

However, Wyatt said that when he started at YouTube, people were skeptical about the idea of watching others playing video games — even “endemic gamers.” According to Wyatt, now gaming is YouTube’s second largest vertical.

Similar to his belief, some backlash against Web3 and crypto will recede as richer experiences such blockbuster games and social app launches become more mainstream.

Don’t assume tech companies will just take this challenge lightly.

Meta began developing the Novi cryptocurrency wallet in 2019 and is currently reportedly looking into rolling out new tools for non-fungible tokensYou can also call it: NFTs.