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Storm is a micro-task platform where users can complete online tasks (such as surveys) to earn Storm tokens. Rebranded from Cakecodes, Storm uses gamification to compete with Amazon’s Mechanical Turk and online freelancing markets.
These tasks can range from answering a survey to designing a website. Storm’s goal is to create the app that allows users to “earn from anywhere, at any time, from any device”.
In today’s freelance marketplaces, platform and transaction fees can reach upwards of 10%. This drastically cuts into the profit margins of freelancers who jump from job to job. To reduce this fee structure, Storm implemented cryptocurrencies.
Storm has been operating since 2014 and had previously paid out its users in Bitcoin for completion of online tasks. Now, Storm has launched its own token which will act as the transactional currency of the Storm platform.