Paidwork - $WORK
Case Study: Paidwork - $WORK
Initially, I missed this coin, but thanks to @mEIAK | AiPa Finance research and his input, it caught my eye. It sounded VERY interesting, so I decided to keep it on my radar. Shortly after, all the crazy FUD on Twitter started happening after it saw 20m+ volume on its first day. This definitely made me want to take a closer look, as it reminded me so much of my previous high conviction plays. IYKYK.
What is Paidwork?
Paidwork is a Polish-based microtasks platform with over 15 million freelancers. These freelancers can play games, fill out surveys, watch videos, or even do online shopping to earn points. These points can, in turn, be cashed out via $WORK token. We will dig deeper into this soon.
I will attach a picture of the different ways one can earn money, down below.
Let's start.
Twitter FUD
A couple of hours after $WORK launched, the FUDs started as usual on X. FUDs by all these "crypto experts" with 0 knowledge about the space. 90% of the money they earn is thanks to their followers being bagholders because of them.
Fud 1:
GitHub Many people started talking about their GitHub having many red flags; inactivity, "polygon_api_key," etc. All one had to do was actually dig deeper into their GitHub and look at the activity overall, and you could see they just started their SOLANA fork. 0 grounds for this FUD.
Fud 2:
Company's registered address When you looked up the address the company was officially registered at on Google Maps, you would see a "small house" according to some. Once again all you had to do was actually dig deeper because the proof was right in front of your eyes. That said "small house" is a big mansion owned by the CEO. In Europe, many CEOs usually buy a house of their liking and register that as the company HQ to write it off as an expense. All you had to do was watch an interview on YouTube which shows the mansion AND the CEO, for those who claimed the CEO on LinkedIn was a fake profile... (lol) Once again, 0 knowledge from the fudders.
Both of these FUDs started circulating and all the "influencers" and these so-called "DAO" experts (not us, obviously) went from "100m is a fud" to "this is a rug" in a matter of minutes.
Which gave us AiPa Finance members the chance to accumulate more. Thanks for that!
Let's talk numbers and logic
The company has been very quiet publicly but active and communicative with some of us on LinkedIn. So we knew if we wanted to get actual info, we had to use LinkedIn. Upon researching the company and their employees on LinkedIn we found some interesting stuff. One of them being around a 300% increase in workforce in the marketing department. Initial SOL commit on GitHub started around 3-4 months ago. Which tells us, $WORK has been in the plan for a while and they wanted to start off with building the foundation first before launching $WORK. Very smart move by the company, which shows vision and true leadership.
Paidwork, according to their own LinkedIn page, has a revenue of 20-50m$, with 3rd party companies claiming an ESTIMATED revenue of 1B$ this year (not impossible).
They also have around 200-500 employees and about 4000 associated members to the company (freelancers).
They also have over 300k downloads last month on Android alone.
Let's put on our tinfoil hats for a minute
We know the company has been very quiet publicly, but behind the curtains, they have been very communicative with anyone who has reached out to them, which usually is a very good sign. According to Konrad Strek (CEO) the reason why they have not been so active lately is due to the following factor: "Currently busy with CEXes and app economy improvements. As you could see from posts we won't publish pump posts, rather focus on company's actual use of Worken." Read that one more time. That is VERY bullish.
So we knew early on CEXes were in play because it said so on the website. Which we got confirmed by the CEO later. But most importantly CEXes as in plural, that is also very bullish. Listing on multiple T1 / T2 CEXes usually plays out well in the long run, so once again showing great vision and leadership by the company.
We know for a fact, once an agreement is in place with a CEX you usually get a launch date on their CEX. Usually a couple of weeks ahead of the agreement. Then yesterday, the CEO "teased" us with a very interesting picture: a picture of the highest volume tokens (22/04/2024), by none other than Bitget. Interesting, out of all the exchanges they choose a CEX with one of the "mildest" requirements to list. Hmm...
Conviction
Paidwork is as of now, one of my biggest conviction plays as of now on Solana. Why? Simple: A multimillion company that has the 2nd highest downloads on AppStore & Play Store, ahead of the likes of ING Bank, Santander Bank (2 of Europe's biggest banks) on top of that they are shared 1/1 spot with Poland's biggest national bank, only reason they are sitting at nr 2 is due to the bank having a higher rating. Which shows us, domestically Paidworks is very liked.
Developers Keep on working in the background with their GitHub and mobile app development. GitHub we can see it developed publicly, mobile app development we hear due to our inside source and research.
Paidworks' biggest end-customer countries are according to our research Brazil, India, Philippines. Just from that we see a pattern. Countries with a high number of inflation.
People who have been around the space for a long time will remember the likes of AXS and how they started (play-2-earn). There were times during the peak of the bullrun when play-2-earn was the meta and people were literally quitting their jobs in 3rd world countries to play AXS full-time and earn more money by playing the game than working a whole month. From their phone...
We saw WORK shoot up to the likes of 9m mc, without any marketing, announcement, or news. Just off pure hype and volume. Imagine when marketing starts with social media presence? I am not even mentioning the partnership with Epic Games, imagine if they bring Fortnite Mobile into their app somehow. Wowza.
This morning we also saw something interesting on crypto.com (https://crypto.com/price/ico-calendar/detail/Worken-1642).. Interesting...
There is so much more to be said, but we won't say anything more as of now. Pay attention to who you follow on social media. AiPa Finance will keep accumulating $WORK as it is right now our highest conviction play in the market. Feel free to join AiPa Finance for free using the 1-week trial.
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