💸 Micro gig workers benefit from multi billion dollar NFTs surge.
NFTs are seeing a multibillion-dollar surge, and gig workers are reaping the benefits.
As a teenager, Stefan Prodanovic began playing with graphic design. He collaborated with a school classmate who worked on the coding to create digital games, and he had no idea at the time that his pastime would grow into a very wealthy business in his youth. Currently, Prodanovic earns $20,000 a month from his artwork for non-fungible token (NFT) series, which he creates himself.
Approached to work on a selection for a project that year, the 25-year-old graphic designer from Bosnia, who has become a top-rated seller on Fiverr — an online marketplace for professional freelancers — for the past three years, decided to branch out into NFTs. When he expanded his services on Fiverr to include NFT-specific artwork, his monthly revenue more than doubled, and he was forced to recruit other employees to keep up with the increased demand for his skills.
As the gig market starts to expand at a rapid pace, freelancers such as Prodanovic have been able to transform their side hustles into lucrative jobs. The rapidly expanding Web3 industry is creating even more chances for freelancers to earn money by delivering services connected to NFTs, the metaverse, and cryptocurrencies.
"NFTs are still a relatively unknown sector, and a large number of individuals are attempting to break into it, and I'm delighted to be a part of it," Prodanovic said.
According to a new poll, Fiverr discovered that 64 percent of freelancers in the United States who use their website have now benefited from providing NFT-related services online. According to the company's statistics, the number of employees on the platform who advertise gigs for NFT-related services increased by 278 percent between Q3 and Q4 of 2021, with worldwide freelancing earnings in such tasks increasing by 374 percent over the same time.
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Yoav Hornug, group manager for creative verticals, stated that "it's not simply freelancers seeking to be a part of the NFT economy." "On the demand side, we are seeing an increase in the number of organizations buying these services."
Unique crypto assets sold and exchanged using blockchain technology erupted into a $27 billion market last year, and all indications are that this is only the beginning of a new era for NFTs. According to a report published last month by investment bank Jefferies, the NFT industry will reach $35 million in 2022 and more than $80 billion by 2025. As evidence, big corporations such as Disney (DIS), Gamestop (GME), and Nike (NKE) have posted relevant job openings in recent months as they expand their teams to focus on non-traditional technologies (NFTs) and the metaverse.
Fiverr saw an increase in searches and tags for NFT-related work on its website last year, and as a result, the firm created a separate category for NFT jobs on its website to provide a more professionally-structured approach for sellers and buyers to interact on such projects. Hornug stated that the types of employment available are diverse and include game creation, graphic design, architecture, social media management, and writing essays about non-fungible tokens. Fiverr currently offers services categorized under the categories of NFT Artwork, NFT Services, and NFT Marketplaces.
In the study, 54 percent of respondents stated that they could see themselves earning an additional $2.600 to $5.200 per month by monetizing their expertise in the area of blockchain technology.
Prodanovic said he is on track to end the month with a total of $30,000 in sales, with his work being sold at three different pricing points. The standard package costs $500 and includes one base art that may be used for 100 NFTs. For $1,000, a buyer receives one base art that can be used to create 1,000 NFTs, while for $2,500, the customer receives one base art that can be used to create 10,000 NFTs that may be used and minted for a collection of NFTs.
In the United Kingdom, Adam Javaid, 26, and Sam Pitman, 23, expect to earn $50,000 this month on Fiverr by creating smart contracts, which is the programming that allows non-fungible tokens (NFTs) to be deployed onto the blockchain — and this is just two weeks after adding the service to their lineup of offerings.
Pitman stated that his agency has shifted its attention to Web3 and that they are seeking to expand outside of Fiverr shortly, maybe even opening a real office location.
"It's not going to be a series of modest initiatives in the long run," Pitman explained. We are delighted with these tiny initiatives, but we anticipate that there will be many more on a much bigger scale as corporate firms begin to realize the real-world applications of a true NFT.
Pitman is already attracting the attention of larger, more established clients. Most recently, they were approached by a well-known nightclub in Miami who asked them to design a series of NFTs for them.
According to Javaid, the action has been "quite continuous." "Things are looking up for the business."
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Our goal is to build the most interoperable and user-friendly NFTs marketplace ever, allowing artists and everyday people to unleash the true power of the virtual world.