Author: Blue Fox Notes
Previously, we mentioned Pieverse's "Exploring Bhutan" activity, which auctioned the time of influential figures, creating an opportunity for communication between influential people and interested users. So, looking at the specific operational mechanism, how does Pieverse work?
I. Pieverse: A Discoverer of Time Value
Simply put, Pieverse is a platform project for time economy. On this platform, anyone can monetize their time, turning time into an asset and creating value. The reason Pieverse is called a time economy platform is that the economy itself requires two parties to trade: one party provides valuable time, and the other is an individual interested in the provider's time. When both parties' needs match, a transaction occurs. In real life, celebrities and professionals have followers, and both parties are interested in communication, but time itself is the scarcest resource, a hard currency that cannot be increased. Therefore, finding a mechanism that allows interested parties to communicate is valuable.
Thus, Pieverse is not only a time economy platform but also a discoverer of time value. Through Pieverse, influential figures and professionals can discover the value of their time through a completely fair market-based approach. A celebrity's time is more easily monetized, but as time evolves, anyone's time can be monetized, such as time tasks. A person might not be famous but could be exceptionally skilled in a specific area like gaming, investing, cooking, exams, language teaching, or golf. They can also monetize their time, allowing each person's time to be traded relatively fairly, creating value and enabling monetization. In other words, it attempts to give everyone the opportunity to auction, raffle, or sell their time on Pieverse, while also providing those interested in others' time a chance for direct communication and learning.
Essentially, Pieverse is a time value discoverer. By utilizing encryption technology, it provides a transparent time value discovery platform for both parties, ultimately allowing time value to be realized and monetized. Without such a platform, time resources would be difficult to utilize and might not reach their maximum potential. For example, an entrepreneur wanting to connect with truly capable entrepreneurs or investors for good feedback often lacks a direct channel. Going through personal networks is inefficient and can sometimes be problematic.
Once this scarce resource of time is truly value-discovered, Pieverse has the opportunity to achieve scalable and sustainable time economy.
II. Pieverse's Mechanisms
Specifically, it currently has four time economy transaction mechanisms: time bidding, time lottery, time crowdfunding, and time tasks. These mechanisms can make pricing fair (determined by the market) and also solve trust issues between trading parties.
1. Time Bidding
The advantage of time bidding is placing influential figures' time on the Pieverse platform for auction. Through market methods, it solves the issue of fair time pricing, and through verifiable mechanisms, ensures buyers can obtain real contact and high-quality interactions. In public bidding, clear summaries and user background verification information are provided to improve efficiency and matching.
2. Time Lottery
Time lottery is more about giving ordinary users opportunities. While time bidding primarily depends on funds, time lottery introduces some randomness. Users only need to meet certain thresholds to have a chance of communicating with interesting individuals. Additionally, Pieverse provides fiat currency channels to allow non-crypto users to participate.
3. Time Crowdfunding
Unlike the "highest bidder wins" time bidding or the luck-based time lottery, time crowdfunding gives more users the opportunity to directly listen to influential figures. For example, in the "Exploring Bhutan" activity, users could participate in online courses by supporting the lecture of the 9th Bhutanese Buddhist leader.
Crowdfunding can be flexible, ranging from online lectures and exchanges to closed-door discussions or even face-to-face conversations. The benefit is that supporters don't need to spend too much, while setting certain thresholds to filter truly interested participants.
In a way, time crowdfunding can maximize the value of individual time, allowing more people to participate. This is a win-win for both time value providers and demanders.
4. Time Tasks
Time tasks focus on professional skill services like tutoring, language learning, gaming, cooking, fitness, etc. With large-scale demand, resolving dispute issues becomes crucial. Pieverse's solution is an escrow system based on smart contracts. From the payment perspective, the demander must first pay for the time, which is held by the smart contract. Only after the demander receives the time service will the contract release funds. In this process, Pieverse plans to introduce token economics and an on-chain reputation system. First, both parties need to stake tokens to encourage smooth delivery. If these mechanisms fail to resolve issues, a DAO for dispute resolution will intervene.
III. Time Arena
The Time Arena is a form of time tasks. Here, founders can win time from VC investors to pitch their projects; professionals can win time from industry experts to gain truly valuable experience. Currently, many well-known Web3 VCs have joined Pieverse, providing entrepreneurs direct communication opportunities.
IV. Pieverse's Evolution: Potentially Becoming a Unique RWA Platform
Why didn't Pieverse initially tokenize celebrities' or professionals' time? An important reason is that entering time tokenization too early, before time value is fully discovered, could shift focus to speculative trading and misalign incentive mechanisms, ultimately losing the original meaning of time economy.
