NFT CVs are a new and emerging concept that might change the way candidates and employers interact in the future.  NFTs are a type of digital asset that represents ownership of a unique item or piece of content,

and they can be bought, sold, and traded like physical assets. An NFT CV is posted on a specific blockchain as soon as it is created. The on-chain NFT can be accessed by employers and has the complete history of modifications, with all relevant changes logged and highlighted, and each point confirmed and authenticated. This NFT CV is then posted on the NFT marketplace.

Currently:

While monetising CVs with NFTs is still largely speculative, some industry experts believe it could be a promising development. Companies such as TrustRecruit, Kleoverse, and ResumeNFT are already providing CVs as NFTs or developing such platforms. TrustRecruit is a web3-powered platform that claims to be the world’s first blockchain-certified and AI-matched trusted NFT CV marketplace. 

Job seekers can submit their CVs and professional details and, after verification, mint corresponding unique CV NFTs and list them on the CV marketplace. Employers and recruiters can search and view through an AI algorithm-curated pool of only fully qualified and pre-verified candidates. Kleoverse is a web3 startup that aims to replace CVs with NFTs for web3 jobs.

Use Cases:

• By creating an NFT of your CV, you’re turning it into an asset that can be bought, sold, or traded like any other NFT.
• Candidates can monetise their NFT CVs by selling parts of them to employers or recruiters who are interested in them.
• Candidates can also earn royalties or commissions every time their CVs are shared or resold on the marketplace.
• A candidate can earn money from their NFT CV by selling fractions of it to interested employers or recruiters who want to view their CV and contact them for potential opportunities.
• The candidate can set the price and terms of their NFT CV according to their skills and demand.
• Another possibility could be to include advertising or sponsorship deals within the NFT CV, such as featuring logos or endorsements from companies or brands..

How Much Does A NFT CV Cost?

The cost of a resume NFT varies based on the platform and market demand. 

TrustRecruit and ResumeNFT are two platforms that allow candidates to set their own price and conditions for their resume NFT. Candidates can sell fractions of their resume NFT to multiple employers or recruiters or sell their entire resume NFT to one employer or recruiter. They can also receive royalties every time their resume NFT is resold or shared on the marketplace. Candidates can earn up to 10x their current salary or $10,000 per month by selling their resume NFTs.

Why? 

• Employers can access qualified and pre-verified candidates who have proven their talent and reputation in the web3 industry by using NFT CVs instead of traditional CVs.
• NFT CVs can help employers save time and money by avoiding hiring the wrong candidate due to misleading or inaccurate resumes.
• Employers can benefit from the network effects and referrals of NFT CVs that are shared and traded on the marketplace. 
• Candidates can create a transparent and verifiable professional identity that showcases their skills and achievements in the web3 industry. 
• Candidates can use their NFT CVs as proof of identity and reputation to access exclusive platforms, communities, or opportunities that require verified credentials and achievements.

Possible Concerns: 

A potential employer might face legal or ethical challenges if they own or trade candidate data as NFTs without their consent or knowledge. For example, they might violate the privacy or data protection laws of the candidates’ countries or regions. They might also exploit the candidates’ data for their own gain without providing fair compensation or recognition. Candidates should also be aware of the challenges and risks involved in creating and using NFT-based resumes, such as security, privacy, scalability, interoperability, regulation and adoption

Summary: 

At HKHR Recruitment, we are always interested in keeping an eye on the latest technological advances as we are the most technologically progressive recruitment agency in Hong Kong with an ongoing research and development team building practical products for complicated recruitment issues. We believe that NFT resumes have the potential to transform the recruitment industry and create new possibilities for candidates and employers. However, we also recognise that there are many challenges and uncertainties that need to be resolved before NFT resumes become mainstream. 

Want to continue the conversation? Contact us on Sarah@HKHR.Asia and check out more insights on the Future Of Work at www.HKHR.Asia