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Since its launch, the initiative has raised a total of $31 million from investors, including some of blockchain’s most prominent venture funds.
Braintrust, a decentralised talent network, has formally launched its BTRST token on the Ethereum mainnet, launching a new governance framework as it seeks to drive mainstream enterprise use of its services.
The project launched publicly in June 2020 and has now generated $31 million in gross services revenue, up from $3.5 million during the time of the unveiling, Braintrust announced Wednesday. Since June of last year, Braintrust’s community has tripled in size, boasting enterprise clients such as Goldman Sachs, American Eagle Outfitters, Atlassian, Porsche, Under Armour and Wayfair. The average monetary value of projects listed on Braintrust has grown to $57,000, with some as large as $300,000. Project listings have also tripled.
The freshly distributed BTRST tokens provide direct ownership of the network to Braintrust’s over 50,000 members, rewarding community building and referrals. According to the corporation, BTRST has a fixed supply of 250 million tokens.
Braintrust is hoping to profit from shifting labour market trends in the aftermath of the Covid-19 outbreak. Businesses established remote work arrangements for their knowledge workers as nations began to lock down their economy to combat the spread of the epidemic. Many labour market specialists believe that remote employment will remain a semi-permanent presence in the global economy in the future.
Meanwhile, knowledge workers have been able to build new paths as independent workers juggling traditional and gig-economy jobs. It is anticipated that by 2027, half of the US workforce will be working as freelancers in the gig economy.
As the economy decentralises as a result of decentralised work, blockchain technology may gain additional significance for enterprises that are still in the process of digitising. Despite the fact that many businesses have been compelled to employ digital solutions such as Zoom or Slack, the future of remote work may bring more use cases for permissioned environments and other kinds of decentralised technology.