Due to the rapid mainstreaming of websites like Fiverr and Upwork, the internet has emerged as a vital resource for independent contractors. However, as consumers go deeper into Web 3.0, freelancing tools are evolving.
The dysfunctional system of the freelance economy gave rise to Braintrust. By linking freelancers and clients through a decentralised network, it hoped to offer both sides the best available terms and low-cost referrals.
While its platform has attracted reputable customers like Twitter and WeWork, its BTRST coin is having trouble taking off. Continue reading for a price forecast for Braintrust.
What is Braintrust (BTRST)?
Gabriel Luna-Ostaseski and Adam Jackson, both of San Francisco, founded Braintrust in 2018. The former served as a technology industry advisor. Along with four other VC-backed businesses, Jackson launched a blockchain asset management company.
The two created Braintrust with the intention of making it the “most influential talent network in the world.” It aims to create a thriving freelancer and employer environment that achieves the greatest outcome for both sides. Braintrust intends to accomplish this by putting blockchain technology to use.
Because Braintrust is decentralised, it can distinguish itself from the competition. It does not want to maximise profit, hence it does not charge its freelancers to select tasks. The platform is then provided to the businesses so they may grow their staff.
How does Braintrust work?
On the Braintrust ecosystem, there are three different user groups. Freelancers are people looking for employment or projects to participate in; they are referred to as “talent”. The talent can apply for employment once they have been authorised by the network. Additionally, they can acquire BTRST tokens by finishing educational programmes and contributing to the neighbourhood.
The businesses advertising these employment opportunities are their clients. Although there is no price for the talent, clients must pay the Braintrust nodes, which power the network, 10% of the invoice.
The fourth group consists of connectors, who function much like matchmakers. They get BTRST in exchange for bringing in talent and clients, who they then connect up for productive projects.
The BTRST token has a lot of usefulness and may be obtained in a variety of ways by network participants. It also functions as a governance token, allowing holders to vote on the network’s future direction. However, investors are sceptical, as BTRST has been declining since its inception.
BTRST past performance
Braintrust got off to a good start. Its mainnet began in early September 2021 and already has prominent clients like as Goldman Sachs. By the 15th of September, BTRST had been listed on Coinbase, and its value had risen from $9.98 to $41.65.
The next day, it reached an all-time high of $47.85. This was also reported at the same time as Braintrust announced more significant clients recruiting on its platform. WeWork, Nestle, Twitter, and Logitech were among them.
However, this was insufficient to keep BTRST from falling further. It plunged to a low of $21.06 on September 17 before falling below $10 by the end of the month.
This negative trend has afflicted BTRST, and it has yet to recover. It had decreased to $5 by the beginning of November, and it began 2022 at $3.43.
The token had a little surge at the start of February. This came after the network launched a fee converter that automatically purchased BTRST. Braintrust discovered that it will soon deplete its token pool designated for community rewards. As a result, the community opted to utilise the 10% client fee to buy tokens and reinvest them in the organisation.
On February 1, BTRST returned to $5.06. However, the surge was just short, and it finally sank down below $3. Multiple market collapses followed, and by June 19, the token was selling at $1.31 lows.
However, the protocol has lately announced some incredibly major agreements, including one with Behance, which was revealed on Twitter:
The token was trading at $2.27 as of July 21st, at the time of writing. Braintrust has a market valuation of more than $206 million, with a circulating supply of more than 91.2 million tokens out of a total supply of 250 million tokens (36%).
Braintrust price prediction
BTRST’s recent performance has resulted in some contradicting projections. WalletInvestor believes the gloomy trend will continue and rates BTRST as a “poor” long-term investment. According to Braintrust’s 2022 price projection, the token will fall to $0.63 by the end of the year.
PricePrediction believes it will ultimately set a new all-time high. According to the report, the token would rise from $3.06 in 2022 to $9.11 in 2025. The Braintrust pricing projection for 2030 predicts a stunning average price of $56.73.
Braintrust, according to TechNewsLeader, is also capable of beating its pricing record. According to the Braintrust cryptocurrency price projection, it will reach $4.65 in a year and $15.26 in five years. According to the Braintrust coin price projection, the token might be valued $114.32 in 10 years.
DigitalCoinPrice believes it will never reach $100 in the foreseeable future. Its Braintrust pricing forecast for 2025 anticipates an average price of $4.32, which will fall to $4.15 the following year. The site predicts it to resume its upward trajectory eventually, and its BTRST price projection for 2030 is $10.33.
How many Braintrust members are there?
Out of a maximum supply of 250 million BTRST, there is a circulating supply of over 91.2 million BTRST.
Is Braintrust a worthwhile investment?
It might be. Braintrust was created to help freelancers and customers find the greatest fit and the best value. However, its BTRST coin has not fared as well as its platform, falling by more than 95% since its all-time high in September 2021. Before investing in cryptocurrency, investors should always undertake comprehensive due diligence.
Will Braintrust rise?
Forecasters are divided over the future of BTRST. WalletInvestor believes it will continue to fall, but PricePrediction believes it will soon achieve a new all-time high. Because predictions are frequently incorrect, investors should never buy more tokens than they can afford to lose.
Should I put money into Braintrust?
It all depends. When Braintrust started in September 2021, the value of its cryptocurrency skyrocketed. However, it has subsequently lost the majority of its worth. Remember that tokens may be volatile, so do your homework before investing.