Dating App Bumble Is Looking For A Head Of Crypto And Web3

Online dating app Bumble Inc BMBL appears to be swiping right on the metaverse.

What Happened: According to a job posting on LinkedIn, Bumble is looking to hire an executive for the role of "Head of Crypto and Web3."

The executive will be responsible for laying the foundation to support Bumble’s cryptocurrency strategy with a particular focus on the next generation community and creator economies.

“What we really think is really interesting in the near term is the application of blockchain and crypto in general to the experience that our communities have. Fundamentally, we are not just an ecosystem, but we are a community of people,” said Bumble President Tariq Shaukat.

Shaukat said Bumble is currently testing a number of things related to the space which the company will be rolling out in the upcoming months.

“This is something that is going to evolve. We want to make sure we're setting the technical engineering foundation for whatever emerges in the metaverse and in the Web 3 world,” he said.

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Why It's Important: A number of companies have already begun establishing strategies to embrace the metaverse. Most recently, Facebook Inc rebranded to Meta Platforms Inc FB as it announced plans to build the metaverse, followed by software giant Microsoft Corporation MSFT that announced plans to “embed the real world into computing.”

Price Action: Bumble shares shed 19.25% on Thursday after the company reported a decline in paying users.

In crypto markets, the market-leading digital asset Bitcoin BTC/USD was trading at $64,500 at press time, down 1.12% in the last 24 hours.

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