StormX is a blockchain project that aims to transform the future of freelance work and the shopping experience. StormX is a revolutionary app and Chrome extension that allows users to earn cryptocurrencies by shopping, completing tasks, staking STMX, and more.
Moreover, it provides freelancers an open and fair opportunity to earn crypto by completing certain tasks through decentralized smart contracts. In this review, we will deep dive into StormX technology and its use cases.
10 Reasons to Buy StormX
1 – The StormX project was previously known as BitMaker. Later on, the team decided to re-brand the product and integrate blockchain technology into their app, which introduced the StormX tokens.
2 – The main focus area of StormX is microtasks and exploring ways to gamify the industry. Further, to work in this direction, the team has launched the Storm mobile application. This provides users the ability to complete microtasks and receive compensation through a smartphone. Impressively, the project is grabbing around 75,000 monthly active users every month.
3 – The technology is helpful for freelancers by providing them with steady and stable work. These freelancers are named Storm Players on the platform, and they help Storm Makers. Moreover, these Makers create a global workforce that can be accessed from any internet-connected device worldwide.
4 – The microtask platform is fully decentralized and completely transparent. In addition, this platform utilizes smart contracts to execute contract terms in a trustless manner. Effectively, these features help to create an efficient and more cost-effective system.
The StormX Market
5 – The Storm Makers and the Storm Players are two major participants of the Storm Market. Storm Makers register and pay for the microtasks or services, while users who perform these tasks and services in exchange for payment are named Storm Players.
6 – The users can redeem these payments as Storm Tokens (STMX). Besides this, users can shop with Storm Tokens in the Storm Shop and can be exchanged with other cryptocurrencies. In addition, the Storm Market also accepts payments in Ethereum or Bitcoin.
StormX Earning Ways
7 – There are three major areas in the Storm Market where users can earn:
Storm Shop: This is an innovative platform where users can earn rewards through the purchase of products and services.
Users can enjoy lucrative deals by shopping at any of 750+ available shops and receive up to 87.5% Crypto Cash Back. Interestingly, its token model lets them pay out higher rewards (up to 2.5x) to the members as compared to their competitors.
Storm Play: Storm Play is an Android mobile application that allows users to view the posted microtasks and available rewards. Usually, these rewards are Storm Bolts. However, they can also be Bitcoin or Ethereum.
Storm Gigs: To participate in ongoing regular program offerings, users can utilize storm gigs. These tasks are the lifeline of this platform, which uses smart contracts to create agreements between the Maker and Player. Further, it has other freelance tasks, such as machine learning tasks, quality assurance tasks, and more.
Today is #MakeUpYourOwnHolidayDay so we declare it….
StormX Day 🎉
Refer your friends to #StormX for a chance to earn up to $1000, enjoy up to 87.5% #cashback, leave us a review on your StormX experiences… then let us know in the comments what your #holiday is today! pic.twitter.com/zNVhHIp7vV
— StormX (@stormxio) March 26, 2021
Freelancer Benefits
8 – The StormX platform eliminates middlemen by utilizing smart contracts. Hence, it is significantly less expensive for Players and for Makers. Besides this, these smart contracts also reduce the dispute resolution cost and risk.
9 – As the largest portion of the world’s population is connected through smartphones. StormX users can access the platform from any country and receive payments directly to their choice of cryptocurrency wallet.
Impressively, these features make this platform more than just a cryptocurrency. Additionally, the team has plans to create a complete ecosystem that serves advertisers and users equally.
The StormX Foundation
10 – The CEO and founder of StormX is Simon Yu, who graduated from the Foster School of Business and got his business experience by working as a financial analyst at companies like Amazon. Earlier, he founded Seattle’s first and best Korean-Mexican fusion food truck.
The founder’s vision is to create a decentralized marketplace for microtasks. One that will operate similar to the Apple App Store or the Google Play Store for freelancers and for shopaholic people.
Notably, this application relies on a give and take model. Therefore, this app has a strong chance to achieve success. In addition, users can also earn STMX, Ethereum, or even Bitcoin.
Top Partnerships
1 – The Litecoin | StormX partnership allows millions of Litecoin followers exposure to StormX’s products. Collaboratively, the team would provide fast and secure payment options to customers. This will enhance the online shopping experience for consumers and online merchants.
2 – StormX joined forces with MakerDAO to integrate Maker’s DAI stablecoin into both of its products, Storm Play and Storm Shop. Moreover, to celebrate this partnership, an additional $10,000 in DAI rewards were allocated for early Storm Shop users.
3 – StormX taps Singapore blockchain company Ink Labs Foundation to expand its community in Asia. This integration helps STMX to gain technical support on affiliate and cross-chain agreements from Ink Labs Foundation. Further, the team has plans to launch high-quality gaming content for the Storm Market gamified microtask platform.
4 – The Kyber Network integrated with the StormX platform to enable anyone to seamlessly purchase STMX tokens for use in the Storm Market ecosystem with any token supported by Kyber Network.
Upcoming Events
1 – The team has plans to upgrade the Leaderboard and redesign it for mobile and Chrome extensions.
2 – To expand the usage of StormX, the project will add more shops while focusing on markets such as the U.S., South Korea, Europe, and Asia.
3 – The team also has plans to launch the off-chain community vote for adding reward currencies to StormX.
4 – Soon, users can enjoy shopping from their desktop. In addition, the StormX Debit card is coming soon to enjoy the world-wide shopping experience.
The StormX Token: STMX
At the time of publication, the StormX price is $0.094480 with a 24-hour trading volume of $513,369,023. It has a circulating supply of 8.4 billion STMX coins with a maximum supply of 10 billion. The leading exchanges for trading STMX tokens are Binance and Upbit. STMX is an ERC20-compliant token that operates on the Ethereum blockchain. Impressively, StormX held an ICO in 2017 that lasted one month and raised roughly $32 million.
After making a high of $0.0822 on April 3, 2021, STMX underwent a correction and held trendline support at $0.05289. As per the 4-hour chart at the time, it was forming an ascending triangle and facing the next resistance at the $0.06677 region. However, STMX flipped this resistance into support and stayed above this level, showing possible $0.0822, $0.1014, $0.1156, and $0.1349 levels. On the flip side, if STMX had been unable to sustain that support, then it could have led to a downside towards the $0.045 region.
Source: Tradingview.com
Conclusion
The StormX project targets the freelancing industry, which is growing rapidly. By focusing on microtasks, they can become the competitor of Fiverr, Upwork, and other websites. The team aims to solve existing platform issues such as process inefficiencies and excessive fees. It has a solid team and a knowledgeable group of advisors which multifold their chance of success. Hence, by compiling all these features, we can say that it solves a real-world problem.
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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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Great breakdown!