Mar 112017

Joberr ICO
Joberr is a jobs platform built on Ethereum, with built-in protections for freelancers and employers. Joberr aims to be the Fiverr of the Ethereum and crypto world. By building on Ethereum, and making payments in Ethereum through smart contracts and escrow services, Joberr is able to reduce the operational cost compared to sites like Fiverr that need to work through traditional payment channels and use traditional technologies. As the Ethereum ecosystem grows in size, there will be an increased demand for marketplaces that match projects with talent. Joberr is a step in that direction.

Joberr itself will host an ICO and provide tokens for investors. These tokens are able to earn a percentage of the profits generated by the enterprise.

Joberr ICO and Token Value

Jobber is holding its ICO in two phases:

  • Phase-1 starts March 12th 2017 (and ends March 26th 2017). Maximum 50,000 USD to be raised. There will be a 30% bonus over Phase-2, as investors in this stage are taking on more risk.
  • Phase-2 dates are still to be determined, but it will be after the project development is completed. Maximum of 240,500 USD to be raised in this phase.

The most interesting aspect of the Joberr ICO from an investor perspective is the realism of the goals. The team has refused to try and raise as much as possible over as long a time-frame as possible. Instead, they have adopted the ‘sustainable business model’ ICO of raising as much as they need to get the product to market, and then use retained earnings to pay the team and grow the business. They have eschewed the classic VC ‘grow fast burn fast’ model in favor of organic growth going forward.

Investors that buy tokens in the first phase of the ICO should know that the development of the product is not completed yet, and they will therefore be taking on an additional risk. However, they will be rewarded with a 30% bonus over the second phase investors.

The project has several sources of possible income:

  • There is transaction fees for both buyers and sellers.
  • There will be premium listings that will cost money.
  • Revenue generating ads on the website.

There will likely emerge other sources of income if the site catches on with freelance workers. 50% of the net profits will get distributed to the token holders, in the form of Ethereum. The rest go to the team to continue operations and expand the business.

Existing Market and Tailwinds

Joberr is entering a market with several related solutions, but nothing for this specific use-case. Its pitch is to be the Fiverr for Ethereum, not a jobs-listing portal. For the cryptocurrency community today, the two most popular boards to look for freelance gigs are Reddit’s Jobs4Bitcoins subreddit, and Coinality.

The closest competition for Joberr is going to be Ethlance, which is geared towards the Ethereum community. Ethlance is also built on the Ethereum blockchain (and IPFS) to host data and contracts. However, it is important to realize that for a freelancer, Joberr gives more protections than Ethlance. Ethlance is similar to a jobs-listing site, which provides a decentralized way to host your job. However, it clearly states, for example, that Ethlance will not manage any disputes between the worker and employer. This is a big problem for freelancers to work on gigs for employers they have no previous relationship with.

Joberr, on the other hand, offers both employer and freelancer protection. To protect freelancers, Joberr has an escrow system. It also has a 2-sided reputation system that will help maintain existing relationships and build new ones. They also anticipate a third-party dispute resolution system, which should increase confidence of both freelancers and employers to use the platform.

Joberr will also likely compete with Colony, another decentralized Ethereum-based marketplace. However, colony isn’t live yet, and has a much grander vision on the future of work, and helping build companies together instead of one-off tasks.

The biggest tailwind for a jobs marketplace like Joberr is the rapidly expanding Ethereum ecosystem. As the number of projects on Ethereum increases, so will the demand for talent. Joberr can provide a one-stop shop for a new project to get off the ground, bringing in all sorts of talent, from designers to programmers to build an MVP. The potential is too great to ignore.

Check out Joberr here.

Photo Credit: Flickr