Beyond buzzwords: the real benefits of web3 freelancing

HYVE

• 3 min read
Beyond buzzwords: the real benefits of web3 freelancing

When people hear web3, the usual points about decentralization, cryptocurrencies and blockchain often dominate the conversation. But the real shift in web3 goes beyond finance and initial surface concepts, with disruptive potential mostly evidenced in freelancing.

We at HYVE want to extend our warmest wishes to all our supporters for the Winter Holidays! This time of year reminds us how grateful we are for our vibrant community of freelancers and clients who continue to shape the future of work with us.

Let's jump into our article today, as we discuss how HYVE has changed the working landscape with new and disruptive features.

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Dynamic work agreements

Forget rigid, static contracts that can’t adapt to changing project requirements. Payment for your work is ensured by features like HYVE’s Escrow System that automate the entire process and are backed by smart contracts. The terms agreed by both freelancers and clients are automatically enforced, thus eliminating the need for manual intervention and reducing the risk of disputes. Funds are ultimately released based on a number of iterations for the deliverables, with options for payment plentiful - more than 200 tokens across 15 blockchains.

In addition, freelancers and clients can now create secure escrow accounts for settling payments outside the HYVE ecosystem. These escrow accounts can be created easily, by using our Telegram Bot.

Feature Spotlight: Telegram Bot
In our mission to create your go-to freelancing platform that makes everything about blockchain accessible and practical, we are proud to introduce the Telegram Bot for Escrow Now, a feature that’s here to redefine the way you do transactions. Our ultimate goal is to make web3 technology as accessible and
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HYVE Tip:

Our crypto invoicing system reduces the need for freelancers to manually create and send invoices or manage complex currency conversions. By using this feature you can:

  •  generate professional invoices in just a few clicks, saving hours previously spent on manual invoice creation;
  • benefit from escrow-integrated payments;
  • not worry about hefty fees: HYVE’s invoicing system eliminates these worries by allowing payments in over 200 different tokens.

Permissionless collaboration across borders

Payment delays, high transaction fees, and currency exchange issues further worsen the geographical barrier traditional freelancing platforms impose. Thanks to web3 platforms, freelancers from all over the world can break down these barriers, accessing the global market without relying on centralized intermediaries.

Payments are processed instantly using cryptocurrencies, eliminating the delays associated with traditional banking systems.

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To further enhance accessibility and communication between freelancers and clients, we have integrated a robust chat feature that facilitates real-time communication, ensuring that any questions or concerns are addressed promptly. The user-friendly interface allows for organized conversations, making it easier to refer back to previous discussions and shared files.

Lower fees and reduced barriers to entry

Traditional freelancing platforms often impose high fees and stringent requirements for joining, limiting opportunities for newcomers. These platforms often take a significant cut, sometimes as big as 20%, discouraging participation and lowering overall satisfaction.

Payments made in native tokens often incur no fees at all, providing an even greater incentive to adopt Web3 systems. With fee structures as low as 0% for native token payments and no more than 2.5% for other cryptocurrencies, freelancers can retain more of their earnings on our platform!

This way, talented individuals who might have been excluded due to financial or geographic constraints can now participate in the global freelancing market. We've been proponents of cryptocurrency payments for freelancers for a long time, with many of the reasons listed in one of our previous blogs.

Why crypto payments benefit freelancers from developing countries?
The blockchain space is quickly establishing itself as the next tech-revolutionary industry of the decade. Developing countries have embraced cryptocurrency as a means of escaping the traditional financial system and its limitations. Thanks to decentralization, it is a superior alternative to weak national currencies, making it more than just a
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What next in 2025

Big things are brewing for 2025, however, before we get back to work we must remember the things we have achieved in 2024. Stay tuned until December 31st, as we will release our yearly recap - follow us on X where we provide the latest announcements!

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