Goal 1: Become a payout option for 100 platforms - By the end of this year GetPaid should become a payout option for at least a 100 platforms.
We are looking to achieve this documenting and simplifying the options to connect to the Stellar network and approaching these platforms by direct sales / business development. We shortlisted already a list of 250 platforms. We estimated that about 40% out of those 250 platforms is interested in connecting to the Stellar network and use GetPaid as a payout option.
Goal 2: Connect 2500 users with opportunities - Connecting with platforms gives our users more opportunities.
With increase the number of opportunities available to our community, the more opportunities to earn are provided to the community.
Goal 3: Reach $20 million sales Q4 2022 - Reaching the goals above enables us to grow our revenue
We have estimated that by reaching the two goals above end Q4 we can hit a total $20 million in sales, which is equivalent to the transaction value existing out of deposits, withdrawal and trades on the GetPaid platform.
We identified two areas that help to accomplish our goals:
Direct sales / Business development - To reach our goal to connect to platforms, we need to drive adoption of Stellar network integrations among platform to enable payouts to the GetPaid wallet. Necessary resources for this are business developers / sales personnel.
Development / Integration - To connect it is key for these platforms to have the necessary infrastructure in place. Direct integration through Stellar Wallet SDK and Stellar SEP standards, Connectors: WalletConnect or fiat through SEPA / ACH payouts. In addition it is key to bring the technology under attention and simplify documentation where needed. Necessary recourses for this is personnel to ensure smooth integrations for platforms and provide technical support where needed.
To achieve our goals we are requesting a budget of 185,000 USD. The requested budget is divided over our 2 key areas:
- Direct Sales / Business Development - 125,000 USD
- Development / Integration - 60,000 USD
GetPaid has been in production since early 2021, since then GetPaid reached over 10,000 people through gigs, our community channel and app. We are active in the East African countries Kenya, Rwanda and Tanzania.
The GetPaid wallet is a web-based application that allows freelancers, creators and traders to earn. They can access services such as; receive payment in the form of cryptocurrency and fiat from all over the world as well as trade with crypto exchanges, whereby users are able to exchange cryptocurrencies for TZS in Tanzania, RWF in Rwanda, and KES in Kenya.
GetPaid Community Platform
This is our own community platform and a Telegram group for conversation. Through the community platform, community members will be able to get access opportunities in two fields: earning opportunities (e.g gigs, cryptocurrency, airdrops, competitions, yield options, etc) and learning opportunities (e.g. scholarships and courses). Community members can also connect, discuss and have conversations through our Telegram channel. The GetPaid Telegram channel has over 600 active members and is a place for sharing quick updates and connecting among GetPaid community members.
We hosted many online events in the last 6 months. In March 2022 we did the first physical event in Dar es Salaam for the closest members in our community group based in Tanzania. The event was a great success, a video of the event can be found here.
Marketplace platforms (freelancing, gaming, e-commerce / NFT, airdrop, yield earning and bounty hunting) that have African users are having limited or no infrastructure to payout because traditional payment infrastructure in Africa is broken (e.g. PayPal) or expensive (e.g. Payoneer). Moving the crypto-friendly payout options (e.g. Twitter with Stripe USDc payouts) is happening, however on a slow paced and not yet on the Stellar network.
To facilitate payouts on the Stellar network, the right infrastructure to receive these types of payments needs to be in place. This infrastructure is what the GetPaid platform is built on and can provide to those platform, a wallet to connect with platforms and collect payments. This can happen through a direct integration through Stellar Wallet SDK and Stellar SEP standards, Connectors like WalletConnect or fiat payins through SEPA / ACH.
Usage of Stellar
GetPaid as a platform is built on top of the Stellar network and provides users with a Stellar wallet. For each creator, trader and freelancer that registers with GetPaid, a Stellar wallet is created. Getting paid into this account works through Stellar's XLM and USDC and Fiat options SEPA and card. Once the XLM or USDc is received, an user has the option to hold the funds or cash-out into their local currency to their local bank or mobile money account. At the moment GetPaid supports these types of payin / payout in Kenya, Rwanda and Tanzania utilizing ClickPesa anchor services through SEP-6, SEP-9, SEP-10 and SEP-12.
To facilitate payouts from platforms to GetPaid we looking to utilize Stellar through three connections:
- Wallet SDK and Stellar SEP standards
- Connectors: e.g. WalletConnect
- Fiat through SEPA / ACH payins whereby there is conversion to Stellar USDc (sUSDc)
The market we are targeting are global freelancing, gaming, e-commerce / NFT, airdrop, yield earning and bounty hunting marketplace platforms that are innovative enough to start with payouts to the (Stellar) blockchains.
Payouts to GetPaid will increase the transaction value and sales which benefits GetPaid’s revenue. GetPaid has three revenue streams:
- Earn on transfers
- Yield on wallets
- A percentage on sales courses
The pricing strategy GetPaid is affordable pricing, at the same time sustainable and enabling us to grow ourselves as a business.
Sales forecast and financial plan
Find here a simplified financial plan with profit & loss projection (including use of capital), cash flow projection, and a break-even calculation.
Industry and market research
Below are a couple of examples of marketplace platforms in various categories out of the shortlisted list with 250 platforms.
- Freelancing - Upwork, Freelancer.com, PeoplePerHour, TrueLancer, Pompcryptojobs, FreelanceForCoins
- Gaming - CryptoPop, CropBytes, Bitcoin Bounce
- E-commerce / NFTs - OpenBazaar, Litemint, OpenSea, Foundation
- Airdrop - Airdropalert
- Yield earning - Lobstr, Aqru
- Bounty hunting - Bounty0X, Gitcoin Bounties
About 96.4% of these platforms do not have the capability to payout to the Stellar network.
- Team has strong understand of Stellar, network and technology.
- Experience in the global digital economy.
- Young brand, not globally recognized
- No direct sales / business development team in place yet
- Stricter global upcoming regulations for cryptocurrency tokens.
- The technical integration that needs to be done can be discourage marketplace platforms.
- Most commonly used marketplace platforms are now adapting to the use of cryptocurrency (ie. Twitter and Stripe) this is increasing awareness of the use of cryptocurrency in the region.
- Worldwide demand for digital workers is rapidly growing, there is a serious shortage of good talent in the world.
Competitors are other blockchains (wallets) to connect and payout to such as Solana, Bitcoin, Ethereum, Binance Smart Chain and Avalanche and Fiat payout methods such as PayPal, Payoneer and Skrill.
Marketing and sales
Direct sales / Business development is done by business developers / sales personnel. No explicit marketing (campaigns) will be done apart from information and documentation provision on our website.
Resources and relationships
GetPaid will work as much as possible with Stellar Ecosystem players, infrastructure providers and exchanges.