Braintrust, a decentralized talent network, backed by Pantera Capital has launched its BTRST token on the Ethereum mainnet in the process of driving mainstream enterprise adoption of its services.
According to Braintrust, the initiative became public in June 2020 and has since produced $31 million in gross services revenue, up from $3.5 million at the time of its unveiling.
Braintrust’s network has tripled in size since June of last year, with enterprise clients like Goldman Sachs, American Eagle Outfitters, Atlassian, Porsche, Under Armour, and Wayfair.
The average cost of projects published on Braintrust has risen to $57,000, with some exceeding $300,000. The number of projects available has also increased thrice.
The freshly distributed BTRST tokens provide direct ownership of the network to Braintrust’s over 50,000 members, rewarding community building and referrals. BTRST has a fixed supply of 250 million tokens, according to the business.
In the aftermath of the Covid-19 outbreak, Braintrust is hoping to profit from shifting labour market patterns. Businesses established remote work arrangements for their knowledge workers as countries began to lock down their economies to combat the spread of the epidemic.
Many labour market specialists believe that remote employment will continue to be a semi-permanent feature in the global economy in the future.
Meanwhile, knowledge workers have been able to build new paths as self-employed employees who operate in both traditional and gig economies. Half of the US workforce will be working as freelancers in the gig economy by 2027, according to estimates.
As the economy becomes more decentralized as a result of decentralized activity, blockchain technology may become increasingly important for businesses currently in the process of digitization.
Despite the fact that many businesses have been compelled to use digital solutions like Zoom or Slack, the future of remote work may present additional opportunities for permissioned environments and other forms of decentralized technology.