WORK X - The Internet of Jobs. Find your dream job, anywhere, anytime.

Work X - $WORK - A decentralized Internet of Jobs that cuts out the middleman to optimize salaries and minimize the costs of services.

About Work X

Work X is a decentralized job platform. A place where job seekers can match with employers by showing their verified skills. It’s a zero-marginal cost platform for any type of work with any contract where the costs of labor are minimized and salaries optimized by cutting out commercial fees. Work X will be powered by a utility token and governed by a DAO. Additionally, users can enrich their data profile with assessments & development courses with the WorkPi dApp and store it in their personal SSI wallet; making it a safe and secure environment. This is only the start; we have great plans for the future.

Introduction

In general, we say, it’s a marathon, not a sprint as we’re in it for the long run. However, we’re happily sprinting at the moment, as we’re close to the finish line of launching our beta version. Especially in a time when decentralization has proven to be key once again, we can’t wait to launch our platform. This way, we can offer people (such as those who have sadly just lost their job) a fair and equal chance to find a new challenge that fits their personal profile. Would you like to be one of the first to use our platform? Sign up here

A word from our CEO

The last month has been a rollercoaster for everyone in the space. I sincerely hope that you have not been affected by the recent downfall of various large players in the industry. If you are, you came to the right place to build it all back!

Our company was not affected by or affiliated with any company that went insolvent; meaning there will be no VC rehabilitation selling when we launch our token. Work X has custody over its treasury and maintains a runway of at least 2.5 years to anticipate a potential prolonged bear market & significant macro-economic shifts. Reserves are stored in multi-sig cold wallets in the currency that we need for our development costs: USDC & BUSD. We do not invest with the money of our investments, we build to deliver on our promises and become a game changer for the way we work and how to find each other over the internet in a free way.

We had everything ready for a token listing long ago, but the market situation forced us to postpone the launch of our token. To avoid people creating liquidity pools on DEXs and heavy sell pressure at the launch, we were unfortunately also forced to postpone the TGE and thus vesting. Considering the best interest of all stakeholders, this was the only right thing to do. Although these events were out of our control, the development of the launching product is still very much in our control.

The launch is overdue and I apologize for that. Looking back on the last year, we have made a lot of right decisions but also learned from classic start-up challenges. A rapidly growing team and the complexity of building a software product come to mind. We decided to not build a “cardboard box” version of our platform, but rather a strong foundation that is ready to scale when demand increases. We learn & adapt, and I feel like we’re in a very strong position at the moment. We noticed that wherever we go, people are interested in the solutions that we are building. Our head is down to deliver the beta version before the end of the year. History showed us that fundamentally strong projects, launched in a bear market, often thrive in the following bull season. I’d like to thank you all for your patience and support!

Development update

The development team has been crossing t’s and dotting i’s on several parts of the beta version. The functionality to verify your work experience is now linked to the back-end and several front-end screens are getting close to completion. Also, contact features have been added to improve the communication between hiring managers and candidates.

We are not just working on the beta; we’re also building & optimizing the NFT staking mechanism with interactive leveling elements. We have developed a new feature that will allow you to receive a yield on your tokens during their vesting period. Vesting schedules where you have to wait for your tokens are common in crypto. With Work X, you can already get a yield on your tokens during the vesting period. This will allow you to earn a return on your investment before vesting your tokens. Only seed & private sale investors will be able to claim an NFT before the token distribution starts. By doing so, you’ll be able to stake and lock your tokens into your NFT instead of waiting for the normal vesting. We will reward the investors who make use of this early opportunity to lock their tokens into their NFT.

On the technical side, we have developed a feature that only investors will be able to mint and lock their tokens into an NFT before you have vested. The other contracts that track how many tokens you have vested and claimed will be updated with these numbers.

psst: want to get a sneak peek of what it will look like? Check out the below GIF to see the NFT level bar going up 🚀.

Business update

With the beta launch around the corner, we are increasing our business development activities. We are speaking to many companies currently hiring in the blockchain & web3 industry. In the next few months, we will introduce you to these partners.

One of the partners that we announced in the previous month is QGlobe. We have always been in favor of decentralized systems and therefore, happily concluded that we’re still on the right track. We were also happy to announce our new partnership with QGlobe.

“QGlobe is a wholesale distributor of Web3 Games and NFT projects that offers services for artists, agencies & other businesses that are kickstarting in the industry. QGlobe is offering services such as an accelerator, an NFT launchpad, staking, building a brand identity and a community.”

Team update

Daniel and Maarten represented our development team at the ETH Lisbon Hackathon. Next to meeting very interesting people and making valuable business connections, they also WON the challenge Wallet Connect created especially for this hackathon! It goes without saying that we’re extremely proud of them. It’s humbling to receive an international prize. Especially, coming from such a big company in Web3.

To generate some extra power for the final sprint, we have hired 2 new colleagues in the development team. Both are heavy weights when it comes to execution power and development experience. 1 senior front-end developer and 1 full-stack software engineer. In this community update, we’re shining our spotlight on Santiljano. Let us introduce you to our new full-stack software engineer.

Santiljano: “At the university, I studied software engineering. After I graduated, I signed contracts with a number of businesses and accumulated a strong certification portfolio and a wealth of expertise.

I’m a full-stack software engineer who is methodical and client-focused with over 11 years of expertise in developing websites and mobile apps.”

Up next

After giving a select group of people early access to the platform, we will gradually roll out the platform for the world to use. As André De Shields once said:

“Slowly is the fastest way to get where you want to be.”

We believe that there are no shortcuts in truly implementing DeFi. We’re part of a world-changing financial system and that is not built in a day. That is why we focus on building slowly but steadily.

The Rise of the Gig Economy

Work X envisions and facilitates a zero marginal cost platform economy, where the traditional concept of a long-term job is replaced by short-term engagements or ‘gigs.’ The traditional employer-employee relationship is evolving into a more client-contractor dynamic, akin to the relationship between a company and its client.

In this paradigm, workers are no longer bound by the constraints of a fixed staff position. Instead, they operate as independent contractors, providing their skills and services for specific tasks or defined periods. This flexibility benefits both parties, allowing employers to access specialized skills for particular projects while affording workers the freedom to choose when and how they work.

The Decentralization of Work

One of the distinguishing features of Work X is its departure from the conventional work setup. Employers now act more as clients, and the physical location of the worker becomes increasingly irrelevant. This decentralization of work is a response to the changing needs of the modern workforce and is accelerated by advancements in technology.

With the rise of gig and freelance platforms, Work X is leveraging this trend, providing a seamless interface for connecting employers with a diverse pool of talented individuals, irrespective of geographical boundaries. This shift has been further catalyzed by the global COVID-19 pandemic, prompting organizations to reevaluate their operational structures and embrace more flexible and remote working arrangements.

A Growing Trend: The Numbers Speak

The data reinforces the significance of this shift. Between 2002 and 2014, the number of gig economy workers surged by an impressive 15%. Notably, the growth in independent contractors between 2010 and 2014 accounted for nearly 30% of all newly created jobs worldwide. These statistics underscore the increasing prevalence and acceptance of non-traditional work arrangements.

Work X positions itself as a catalyst for this trend, providing a platform that not only adapts to the changing nature of work but actively contributes to its evolution. The platform’s commitment to fostering a zero marginal cost economy ensures that the benefits of this transformation are shared equitably among all participants.

Conclusion: Shaping the Future of Work

As we navigate the dynamic landscape of the modern workforce, Work X emerges as a trailblazer, leading the charge toward a future where work is characterized by flexibility, efficiency, and inclusivity. The Internet of Jobs, facilitated by Work X, represents a paradigm shift that empowers both employers and workers to thrive in an ever-changing professional landscape. As the gig economy continues to gain momentum, Work X stands as a beacon, illuminating the path towards a more agile, connected, and economically sustainable future of work.