The Collective is a new project set to launch one of the first decentralized freelance marketplaces. The platform will be powered by The Collective Coin (TCC), which will be the primary means of paying for services in the marketplace and will provide liquidity for the ecosystem.
Andrew Gago, Sal Tinajero and Brandon Ponce first met each other after they had each invested in the same NFT platform. The platform that the three invested in crashed after being hamstrung by the lackluster support and vision of its creators. Like so many other failed projects in the cryptocurrency industry, the idea was big on paper but the founders were unable to see it through and the use cases just weren’t there.
Frustrated by what they perceived as an all-too-common thread in crypto, Andrew, Sal and Brandon started brainstorming ideas on what needs to be different, how a platform can succeed, how to materialize the great potential they saw in DeFi technology. For a platform to really take off, they concluded, it has to have real advantages that will allow it to grow, and concrete use cases that give its currency tangible value. The result of that brainstorming is The Collective, one of the first decentralized freelance marketplaces.
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The way the marketplace will work is similar to Fiverr and Upwork but without intermediaries between clients and service providers. This is made possible via the platform’s native TCC token, which will be the primary means of paying for services for users. Transactions done in TCC will have no service charges on the platform. Direct transactions between clients and service providers will translate to content creators making more for the work that they do and hiring entities spending less.
By running the platform on TCC, The Collective has been able to use DeFi technology to restructure freelance work paradigms while also creating enough liquidity for the ecosystem to thrive. Originally there were 500 trillion TCCs minted, with 250 trillion burnt before the launch of the token and another 45 trillion burnt after. For every transaction made, 5% of the total is burned and another 5% is allocated to the platform’s liquidity pool. All tokens in The Collective’s liquidity pool will be locked for a year. The Collective is set to launch its marketplace later on this month and the beta version of the platform’s Dapp will be unveiled in late Fall.
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In addition to serving as a connection hub for freelancers and clients, The Collective has plans of launching their own Collective Gaming platform for esports. The platform is set to be a marketplace for gamers with regular contests and prizes and will be paired with an e-sports betting Dapp. The Collective will be hosting its first esports gaming tournament on Twitch this month with a $1000 prize pool.
By combining a freelance economy with a robust gaming experience, The Collective is looking to provide users with clear use cases for cryptocurrency and clear advantages in using their platform.
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