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What is Paysenger? SocialFi platform works similarly to Upwork

Paysenger is a project that works similarly to Upwork. So what is Paysenger? What are the highlights of the project?
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linhnt
2 min read
Published Jul 10 2023
Updated Jul 11 2023
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What is Paysenger?

Paysenger is the Web3 Platform for creators to earn income from their knowledge - similar to Substack. Besides that, Paysenger also allows users to collaborate with artists to create many products. 

Paysenger was developed by Sureel - a company specializing in the artificial intelligence sector (AI), and Dr. Tamay Aykut - who is not only a lecturer at Stanford University but also holds a Ph.D. in Artificial Intelligence. 

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Paysenger’s Website: https://paysenger.com

Products and revenue of Paysenger

Paysenger’s products

Paysenger’s core product is the SocialFi platform that specializes in content creation with the help of AI.

SocialFi

SocialFi is a networking platform that allows content creators to share useful knowledge. Therefore, the platform not only helps connect them with potential customers, but earns more income. 

Not similar to ordinal social networks, users on Paysenger can use AI to support content creation.

SocialFi platform on Paysenger

So how does AI help Paysenger?

AI is a useful tool to help any SocialFi platform. However, there is a drawback that it limits creativity.

For example: Content creators often use ChatGPT to help find images or article ideas. However, those images and ideas of ChatGPT are often data available online, leading to "copyright” issues. 

Therefore, Paysenger’s AI solved the below problem in two ways: 

Image Creation: Content creators use AI to create images based on the data they post (images, text...). After that, the others can submit a request to collaborate or edit the image. Finally, AI will create the image based on the request, and it is marked as an NFT.
Chat: Users post their status on Youtube, and Twitter to AI. Then users can ask questions about the content, topics,etc. Behalf of the user, AI will answer every question.
AI Paysenger

Revenue of Paysenger

Paysenger's revenue comes from transaction fees. The fee is around 20-30% for each transaction (Upwork transaction fee is 10%). However, it is not an official announcement of revenue.

How does Paysenger work

Paysenger's group of users consists of 3 main groups: users, creators, and Idea Maker.

Idea Maker: The group comes up with ideas, then needs a creator to actualize them. After the creators finalize the product, Paysenger will give NFT to the Idea Maker. These NFTs will buy/sell on Paysenger.
Creator: Making requests from Idea Maker. They will receive income (royalties fee) from NFT when the content is completed. According to Paysenger, the Royalties fee is 1-5%. In addition, Creators and Idea Makers receive additional revenue from user interaction.
User: They are the main customers of Paysenger because the platform needs their creation the most.

In addition, there is a file of users that are companies/brands. They use Paysenger for the purpose of interacting with users through contests. For each Contest held, Paysenger will take 30-50% of the contest's revenue.

Overall, Paysenger works similarly to Upwork in Web2 because both platforms focus mainly on content creators.

Paysenger’s Model

What EGO Token?

EGO Token Key Metric

Token name: Paysenger EGO
Ticker: EGO
Blockchain: BNB Chain
Token Standard: BEP-20 
Contract: 0x44a21B3577924DCD2e9C81A3347D204C36a55466
Token type: Utility
Total Supply: 333,000,000 EGO

EGO Token Use Cases

EGO Token Use Cases:

Stake on Paysenger.
Transaction fee in Paysenger ecosystem.

EGO Token Allocation

EGO Token Allocation below:

Marketing & Ecosystem Reward: 29.5%
Strategic Round: 21%
Team: 11%
Liquidity: 8%
Pre-sale Round: 8%
Treasury: 7%
Angel Round: 6%
Public Round: 4.3%
Advisors: 4%
KOL: 1.3%
EGO Token Allocation

EGO Token Sale

Paysenger had 5 rounds of opening sales:

EGO Token Sales

Token Release Schedule

EGO Token Release Schedule

Roadmap and Updates

According to the Paysenger team, the project underwent more than halfway through. 

Roadmap in 2023 below:

Q1/2023:

Launch B2B feature

Q2/2023:

IDO Sale
Listing on CEX
Launching the Creator Fund for Content Creators

Q3&4/2023:

Product introduction for the Southeast Asian market

Project team, investors, and partners

Project team

Paysenger’s core team:

Stan Novi: CEO & Founder of Paysenger. In the past, he was CTO at Cloudwatcher and Founder of Sapiens Media.
Pavel Maksimov: CBDO & Founder of Paysenger, he is also the Founder of Unlmint
Egor Trufanov: CMO & Founder of the project, he has 5 years of experience in marketing, especially 4 years as head of marketing at Dataduck.
Core team of Paysenger

Investors

The Paysenger project successfully raised $3.5 million from two investment rounds, Pre-seed and Seed. However, the project has not yet announced the list of investors.

Partners

Paysenger currently has many strategic partners such as Consensys and Polygon.

Paysenger's Partners

Similar projects

Some SocialFi projects similar to Paysenger include:

Phaver: The decentralized social platform applies the Share-to-earn model.
Lens Protocol: Web3 social graph protocol developed on Polygon.