Three launch lessons from blockchain-based freelance marketplace TopIQs

Over a decade ago, the co-founders of TopIQ were freelance internet marketers who dealt with many of the frustrations that still plague freelancers today. They invested significant time pitching, landing and completing projects for clients on freelance marketplaces. When it came time to get paid, they spent weeks or months chasing payments or resolving account issues and fraudulent chargebacks—only to end up owing a high percentage of marketplace and financial services.

“Traditional freelance marketplaces take up to 20% of fees for any job,” said Steve Talbot, one of the Chief Information Officers at BH Network, the creator of TopIQs, a blockchain-based freelance marketplace. “This is very challenging, especially when you’re just starting out. Say you make $500 on a few small projects; the marketplace takes $100, the bank or financial app takes another $15, and so on. Pretty soon, $500 is a much smaller amount.”

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Talbot and his partners, Eddie Munteanu, Marius Grigorasand Petrica Butusina imagine a better way for freelancers to find work from trusted companies and get paid quickly without the usual headaches. Their vision became TopIQs, a decentralized freelance marketplace built on the MultiversX blockchain.

“TopIQs is a DeFi marketplace designed for global Web3 buyers and sellers,” Munteanu said. “We charge a maximum of 5% on crypto payments, and a transparent permanent history on the blockchain protects both buyers and sellers. Companies know they will get work they are happy with, and freelancers know they will get paid quickly. Both parties own the smart contracts they develop. Payment is held in escrow for the duration of the project, then released to the freelancer once it is complete.”

The beta version of TopIQs launched in December 2022, and the full product is scheduled for release in spring 2023. Here are three key lessons the TopIQs team has identified about a successful Web3 product launch:

1. Prioritize educating your users.

Blockchain and crypto platforms are still new to many people. If your product is aimed at Web2 users, you need to provide an educational component that teaches people the basics and benefits of Web3. What are your customers’ pain points and how does your product solve them? What important information do they need about the blockchain or crypto? What will they gain from adopting this new technology? Provide video tutorials, Q&A sessions, and other searchable resources.

2. Test relentlessly during the beta launch.

Before making a full launch, budget enough time for a thorough beta testing period. During this soft launch, invite users to use your product for free and collect as much community feedback as possible. Which elements are popular and easy to use? Which functions generate the most questions or errors? Keep testing and iterating until you are confident of a full product launch.

3. Provide exceptional customer support.

Take care of your user community by offering responsive, multi-faceted customer support. Sometimes users prefer to watch video tutorials or read online resources to answer their questions. Other times, they want to speak directly with a team member who can help them. Try to offer a variety of support options, including videos, articles, knowledge bases, and chat apps.

“We want to help more people get into freelancing, and we understand the barriers on a personal level because we’ve been there ourselves,” Talbot said. “TopIQs aims to educate people on how to get into freelancing and how to get into cryptocurrency. It puts control back in the hands of users to create a safer and more connected way of working.”

This article was published through the Cointelegraph Innovation Circle, a researched organization of top executives and experts in the blockchain technology industry who are building the future through the power of connections, collaboration and thought leadership. Opinions expressed do not necessarily reflect those of Cointelegraph.

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