Freelancers Are Embracing NFTs And Metaverse, Says Fiverr

According to indie work website Fiverr, 64 percent of U.S.-based freelancers have profited from selling NFT-related services. Pictured, people walk past an NFT vending machine location on Feb. 24, 2022, in New York City. The world's first NFT vending machine, from the company Neon, accepts credit and debit cards and dispenses a box with a unique code inside for your chosen NFT. (Michael M. Santiago/Getty Images)

You may not know the difference between an NFT and NSO (the Israeli company behind the Pegasus software), but according to Israel-based indie work website Fiverr, 64 percent of US-based freelancers have profited from selling NFT-related services.

The survey of some 1,000 freelancers was conducted together with Censuswide, a research company based in the United Kingdom.

NFT (non-fungible token) refers to an exclusive, usually digital asset — whether a piece of art, an essay or an in-game upsell — that’s backed by the blockchain.

Fiverr reports that, on its website, the number of freelancers who listed gigs for NFT services increased by 278 percent in just a single quarter, from Q3 to Q4 of 2021.

That’s led to some big profits: Freelancers report that their earnings for NFT services jumped by 374 percent in the same period. And the number of searches for NFT services on Fiverr increased by 345 percent.

U.S. Freelancers report that their earnings for NFT services jumped by 374 percent from Q3 to Q4 of 2021. Pictured, NFT stickers sit at a booth at ETHDenver on Feb. 18, 2022, in Denver, Colorado. ETHDenver is the largest and longest running Ethereum Blockchain event in the world with more than 15,000 cryptocurrency devotees attending the weeklong meetup. (Michael Ciaglo/Getty Images)

“NFTs are becoming a fantastic way for illustrators, artists, designers and developers on our site to monetize their skills and work with businesses and individuals investing in this space,” says Gali Arnon, CMO of Fiverr.

“The fact that over three in five freelancers are already earning income by selling NFTs and related services showcases the foresight freelance talent has in staying on top of the latest technology trends.”

What are those related services? “Blockchain technology, cryptocurrency and the metaverse,” Arnon adds.

Matthew Hoerl of MoNA Gallery wears a VR headset as he speaks with attendees at their booth during the DCentral Miami Conference on Dec. 01, 2021, in Miami, Florida. MoNA Gallery describes itself as seeding the open metaverse through the creation and use of unique 3D spaces. Organizers say this is the largest in-person combined NFT and DeFi conference in history. (Joe Raedle/Getty Images)

Key data points from the Fiverr-Censuswide survey:

48 percent of freelancers said they have already profited from the sale of metaverse-related services.
83 percent plan to adapt their current offerings based on the growth they’ve seen in this space.
54 percent can see themselves earning an additional $2,600 to $5,200 per month by monetizing their blockchain-related skills.
More men (68 percent) than women (54 percent) have profited from NFTs.
84 percent of men plan to adapt their services due to the growth in “Web 3.0” (a new iteration of the Internet based on blockchain technology) compared to 80 percent of women.
61 percent of female freelancers have earnings from the sale of metaverse-related services compared to only 45 percent of male freelancers.
70 percent of respondents ages 45–54 claim to have profited from the metaverse, while only 39 percent of the respondents ages 25–34 have.
On the flip side, 70 percent of respondents ages 25–34 have profited from NFTs versus 52 percent of respondents ages 45–54.

It’s not all smooth sailing. Freelancers trying their hand in the metaverse have concerns, too.

54 percent are concerned about privacy and cyber threats.
39 percent are concerned about regulation (or lack thereof).
37 percent believe there is lack of knowledge and insight around this space.
28 percent are fearful for the lack of in-person connection that comes with Web 3.0.

None of that has slowed the NFT train. Among the wildest NFTs sold so far:

Jack Dorsey sold his first Tweet, the day Twitter launched in 2006, for $3 million.
A pair of digital sneakers, to be used in video games as part of a user’s avatar, are going for $10,000 a pair.
You can buy GIF images of menu items from Taco Bell as NFTs.
For Star Trek fans, William Shatner sold old photos and even an X-ray of his teeth as NFTs.

For more survey results, click here

Produced in association with ISRAEL21c.

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