GIG Economy Cashing In On Digital Currency & NFTs Which Could See A Billion-Dollar Boom

PALM BEACH, Fla., Sept. 7, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary -  GIG economy workers are utilizing new technologies to expend their incomes in return for their services. An article in Yahoo Finance discussed these new opportunities saying that Aa the gig economy continues to grow rapidly, freelancers have managed to turn side hustles into money-making careers. And the fast-growing world of Web3 is providing even more opportunities for freelance workers to generate income from services related to NFTs, the metaverse, and cryptocurrencies.  "NFTs are still an unexplored area and so many people are trying to get into it, and I'm happy I can be part of that," one GIG worker said.  It continued: "Fiverr found that 64% of U.S.-based freelancers using its website have now profited from selling NFT-related services, according to a new survey. The company's data also reveals a 278% surge between Q3 to Q4 of 2021 in the amount of workers on the platform listing gigs for NFT-related services, with worldwide freelance earnings in those jobs jumping 374% in the same period.  "It's not just freelancers trying to be part of the NFT marketplace," Yoav Hornug, group manager for creative verticals, told Yahoo Finance. "On the demand side, we see more businesses ordering these services.  NFTs, unique crypto assets sold and traded using blockchain technology, exploded last year into a $27 billion business — and signs point to that being just the start. Recently, investment bank Jefferies forecasts the NFT market could top $35 million in 2022, and over $80 billion by 2025. The projection appears to be supported anecdotally, too: major companies including Disney, Gamestop, and Nike have listed relevant jobs in recent months as they build out teams to focus on NFTs and the metaverse."  Active companies in the markets this week include ShiftPixy, Inc. (NASDAQ: PIXY), Affirm Holdings, Inc. (NASDAQ: AFRM), PayPal Holdings, Inc. (NASDAQ: PYPL), FIS^® (NYSE: FIS), Global Payments Inc. (NYSE: GPN).

The article added: "Once Fiverr began noticing an uptick in searches and tags on its website for NFT-related work last year, the company added NFT gigs as a standalone category on the website to create a more professionally-structured way for sellers and buyers to connect on such gigs. Hornug said that the type of gigs are wide-ranging and include game development, graphic design, architecture, social media management, and writing articles about NFTs. Currently, Fiverr has services listed under NFT Artwork, NFT Services, and NFT Marketplaces.  Of respondents to the survey, 54% said that they can see themselves earning an additional $2,600 to $5,200 per month monetizing skills related to blockchain technology."

ShiftPixy, Inc. (NASDAQ: PIXY) BREAKING NEWS:  ShiftPixy Announces Application for Dual Listing on Upstream – ShiftPixy ("ShiftPixy" or "the Company"), a  Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today announced that it has begun the application process to dual list its shares on Upstream, the revolutionary trading app for digital securities and NFTs powered by Horizon Fintex ("Horizon") and MERJ Exchange Limited ("MERJ").

The planned dual listing on Upstream is designed to provide ShiftPixy the opportunity to access a global, digital-first investor base that can trade using USDC digital currency along with credit, debit, PayPal, and USD, unlocking liquidity and enhancing price discovery while globalizing the opportunity to invest in NASDAQ-listed ShiftPixy.

Commenting on the application to list on Upstream, Scott W. Absher, Chairman and Chief Executive Officer of ShiftPixy, said, "We continually seek to leverage cutting-edge capabilities in all we do, and we envision a dual-listing on Upstream providing ShiftPixy with the very latest approach in terms of access to worldwide capital markets and the technology to reach countless potential new investors who can learn about our many exciting growth-oriented endeavors."

Approval to be listed on Upstream is subject to acceptance by MERJ. However, as an existing NASDAQ issuer, the listing standards to which ShiftPixy adheres are sufficient to comply with MERJ Listing Rules, including but not limited to disclosure, filing and notification requirements. CONTINUED… Read this and more news for ShiftPixy at: https://www.financialnewsmedia.com/news-pixy/  

In other developments in the markets:

Affirm Holdings, Inc. (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, recently reported financial results for its fourth quarter and fiscal year ended June 30, 2022.

"Affirm delivered strong performance in the fourth quarter," said Max Levchin, Founder and CEO of Affirm. "We grew GMV by 77% and set a new record for consumer re-engagement with 85% of transactions coming from repeat users, all while prudently managing risk. We remain focused on scaling our network, maintaining attractive unit economics, capturing greater share, and helping our partners grow."

Levchin continued, "While the growth of online commerce is falling back to pre-COVID levels, the secular trend toward adopting honest financial products is gaining momentum. Not only does this make our mission more important but it also plays directly into Affirm's strengths. With our breadth of product offerings, risk management expertise and superior technology, we stand ready to meet the moment by making money more efficient for all of our network's participants."

PayPal Holdings, Inc. (NASDAQ: PYPL) recently in partnership with National Philanthropic Trust (NPT) and Vanguard Charitable announced Grant Payments, a new product that enables Donor-Advised Fund (DAF) sponsors, community foundations and other grantmakers to deliver grants to charities quickly and electronically via PayPal.

Grant Payments will enable charities to receive grants shortly after the funds have been approved by the grantmaker. Both grantmakers and charities will have access to all available grant details, including donor information when provided, via a PayPal dashboard. Eligible and participating charities have been vetted per PayPal's strong compliance standards.

FIS^® (NYSE: FIS) has recently launched its new central infrastructure payment solution, RealNet™ Central, to help central banks transform their markets to digital-first, real-time payment economies.

Currently, 72 percent of the world's population has, or will soon have, access to instant payments, according to the 2022 Worldpay from FIS Global Payments Report. Many markets are also replacing or renovating their established real-time services, especially those that repurposed their corporate real-time gross settlement (RTGS) services to cater for instant payments, such as Brazil, United Kingdom, Japan, South Africa and Mexico. Similarly, India and the U.S. are introducing additional competing services that will sit alongside the established schemes.

Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology and software solutions, and EVO Payments, Inc. (EVOP), a leading global provider of payment technology integrations and acquiring solutions, recently announced that Global Payments will acquire EVO in an all-cash transaction for $34.00 per share.

The transaction will significantly increase Global Payments' target addressable markets, further enhance its leadership in integrated payments worldwide, expand its presence in new and existing faster growth geographies, and augment its B2B software and payment solutions with the addition of accounts receivable software with broad third-party acceptance.

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