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Nephilim Freelancer Platform

The Nephilim Freelancer Platform (NeFP) is one of the first decentralized freelancer platforms on NEAR protocol. Freelance work has grown immensely over the past decade, and it is expected to increase further in the coming years. With such growth, freelancers will account for as much as 80% of the entire workforce worldwide by 2030 (Hamann, T.K., Guldenberg, S., 2021). Previously considered side income and extra jobs, freelance work has now become a major employment option.
Freelancer platforms are also widely used for prototyping/kick-starting a Web3 project. However, if you think only small businesses use freelance platforms, you are in for a surprise. An Accenture report states that one hundred (100) Fortune 500 companies use freelancer platforms (Yili Hong, PauI A. Pavlou, 2013). Likewise, freelance work is becoming more popular today as more people find it profitable and convenient, which means more talent for companies.

Current state of Freelancer market

Freelance Platforms Market size was valued at USD 3393.5 Million in 2020 and is projected to reach USD 9192.9 million by 2027, growing at a CAGR of 15.3% from 2021 to 2027. (Source: Absolute Reports Pvt Ltd)
  1. 1.
    The freelance industry makes up almost 5% of the total US GDP.
  2. 2.
    53% of all Generation Z workers are freelancers.
  3. 3.
    Global freelance platform market size is projected to boom at a CAGR of 15.3% during 2021-2026.
  4. 4.
    36% of workers reported that they freelanced even in the pandemic – up 8% from 2019.
  5. 5.
    58% of non-freelancers are now considering freelancing in the future.
25% of all freelancing revenue comes from the top five freelancer platforms since they have more popularity and provide more opportunities for both job providers and freelancers. However, being the first freelancer platform on Web3 allows us to take advantage of forming the primary freelancer community before any others.
Furthermore, the freelancing market share is expected to increase soon.

Decentralized Freelancer Platform

Traditionally, there are many concerns when finding the right freelancer for a specific task. Although most platforms have their own mechanics to prevent scams and low-quality delivery, like funds escrowing, most people are still wasting their time even if they can get their funds back if they are not happy with the delivery.
Moreover, freelancers' information on the web2 platform can be manipulated in many ways. It is hard to tell if the freelancer has the right skillset.
However, by utilizing a blockchain contract and our DAO, jobs and freelancers are governed by a smart contract. Our DAO will provide a secure way to ensure that all freelancers’ information is genuine. For example, some freelancers will use multiple accounts, create fake jobs, and compete with the other account to gain a better reputation (mostly stars/comments). We prevent this by utilizing our DAO and community governed job delivery; this delivery will be an invalid job and will not increase the freelancer’s reputation.
One of the features that stand out from other freelancer platforms is by utilizing our DAO, which also allows multiple individuals to form guilds/divisions/workgroups so that they can work together to complete bigger jobs that they might not be able to work on their own, the payment contribution of the job is also governed by the agreed amount that is stated in the smart contract.

Crypto payments

Most Web3 project teams may have their main assets on the chain, but they must pay for services via a Web2 platform. This is a major obstacle, especially considering that many crypto native startups cannot quickly get banked traditionally. In addition, most freelancer platforms will hold your funds less transparently for a reasonably long period; some platforms will hold your funds after the job is completed for more than two weeks, and on top of that, they might also need to set up bank accounts, which brings more hassle for both the freelancer and job provider. Our Web3 freelancer platform uses cryptocurrency for payment, which will provide a faster, hassle-free, and transparent way for both parties to process payments

More details coming later stage of the project

Reference

Hamann, T.K., Güldenberg, S. (2021). New Forms of Creating Value: Platform-Enabled Gig Economy Today and in 2030. In: Güldenberg, S., Ernst, E., North, K. (eds) Managing Work in the Digital Economy. Future of Business and Finance. Springer, Cham. https://doi.org/10.1007/978-3-030-65173-2_6
Hong, Yili and Pavlou, Paul A., Online Labor Markets: An Informal Freelancer Economy (March 1, 2013). Hong, Y. and P. A. Pavlou (2013). Online Labor Markets: An Informal Economy. IBIT Report, February 2013, Available at SSRN: https://ssrn.com/abstract=2132869 or http://dx.doi.org/10.2139/ssrn.2132869