A new virtual realm: freelancing in the Metaverse

Let’s face it: we can all agree that Web3 is a paradigm that surely defines our new internet era, an open and trustful one that does not rely on the need for intermediaries or centralized corporations.

The Internet was our first move to become a borderless society - we care less and less about what race, sex, or background someone has: now Web3 is the second move to a next-generation that does not depend on the traditional workforce, because who wants to sit 8 hours a day doing the same thing nonstop?

Even if you might think that a Web3-powered career demands more from you, we can guarantee that you are going to feel more fulfilled in life by giving this opportunity a go! Decentralization will be the norm, meaning it's time to be your own boss and take matters into your own hands.

A brief history of the Internet…

Web3 is still an evolving and emerging system, every part of the world is embracing it a record pace, succeeding the Web1 era spanning from 1994 to 2004, and the ongoing Web2 era.

• During the Web1 era, the majority of users had limited ability to interact with online content, which was primarily restricted to reading-only activities, therefore being named as read-only. This period saw the emergence of online versions of traditional businesses, including newspapers and retail stores, as well as the development of online search tools and marketplaces that enabled users to access information and purchase physical goods through the internet.
• Web2, which is currently ongoing, is read-write, allowing users to generate their own content and supply services to other users, as evidenced by the emergence of social media platforms like TikTok, YouTube, and Twitter, as well as online service platforms like Uber or Airbnb. The introduction of Web2 has also disrupted traditional business models by providing service providers with opportunities to reach potential demand through newly established platform channels, bypassing traditional supply channels.
• The legendary Web3 is described as read-write-own: a place where users are self-sovereign and do not rely on intermediaries such as banks, governments, or platforms (creator economy anyone?). By leveraging open, decentralized protocols, businesses can develop products that run on top of them, just as they have done using the original internet protocols like hyperlinks and email, for example.

If you still want more information about how we got to web3, check out this neat video below!

What happens when you bring Web3 to freelancing?

A few years back, freelancing was considered a filler or a side gig in between traditional jobs. However, Covid-19 changed a lot of perspectives (more than 65%) as more and more individuals are now choosing to pursue full-time freelancing careers that provide benefits as increased flexibility and autonomy (sounds familiar to Web3, isn’t that so?) or independence while self-working.

Is freelancing a good match for Web3? Think about it: this next-gen Internet is going to revolutionize freelancing by creating an open and not controlled environment where freelancers can have full control over their work. Sounds like a dream come true? Let’s dive into the benefits Web3 provides freelancers with!  

Being paid in cryptocurrency

It’s time to forget the waiting times, exchange fees and additional cost of traditional bank transactions. Even if you don’t get all your pay in crypto assets, you could potentially receive a portion of your pay in these assets and diversify your holdings instantly.  One of the biggest reasons people prefer pays in crypto is full control over your funds. By creating a non-custodial wallet, you have ultimate freedom over your money, whether you want to stake it or lend it to others.

This is why you should choose only the best exchanges when purchasing or trading cryptocurrency.

Unbiased dispute resolutions - get protection

For example, on a Web2 traditional platform, a freelancer and a client have a dispute over payment, where the second one mentioned has won unfairly due to the fact that the freelancer was from a developing country. This usually happens when the decision is managed single-handedly,

This outcome can arise when decisions are made single-handedly, without adequate protections in place for the freelancer. In such circumstances, the individual who presents their argument most persuasively tends to prevail, creating a situation in which individuals from non-English speaking countries may be disadvantaged.

A freelancing platform in the Web3 can help you out by offering protection - disputes are solved on-chain, requiring community involvement rather than a potentially biased third party. The system thus reduces uncertainty, allowing for a fair mediation.

Almost non-existent fees

As we already mentioned, there’s no middlemen - giving confidence to the users due to its trustless architecture, but also ensures no one can set exorbitant fees, as all current freelance platforms and work providers do.

Transactions can be broadcasted to the network for pennies or even fractions of a penny.

Incentivizing your participation in the ecosystem

Another advantage of blockchain technology is that it can be used to incentivize participation in the ecosystem. This means that the platform will reward people for doing certain activities, such as rating and reviewing other users or posting new gigs. Moreover, by fostering adoption of the platform, you will also be rewarded.

You can use the tokens acquired in this way for a number of different things, such as getting discounts on services or getting rewards for referrals, as well as participation in the main decision on the protocol's future. This is what happens when you have a governance token, allowing holders to vote on proposals and create DAOs.

No more uncertainty

One of the main advantages of using blockchain technology for freelance work is that it brings trust and transparency to a sector that desperately needs it. This means that more people will feel comfortable using blockchain-based freelance platforms, and they will be more likely to trust the system. This will increase the number of people who use blockchain-based freelance platforms.

However, there are many other advantages to blockchain-based freelance platforms. For example, the fact that these platforms are decentralized makes them virtually immune to attacks. This is because there is no single point of failure. Another advantage is that blockchain technology offers high scalability, which is crucial for any decentralized system.

So when is HYVE V2.5 coming?

Now that we got your attention, we can assure you that we are working hard to deliver some next-gen features for HYVE V2.5. It is going to be a true game changer in terms of UX/UI, by allowing more than just crypto enthusiasts to partake in freelancing! An estimated release date could be in the next two months, pending any potential developments.

Moreover, until then we are embarking on our intergalactic adventure, together with the Metalancers. If you want to be part of their fight for decentralization, make sure to join the mailing list by clicking the button down below!