Time is RWA. How does Pieverse use DAO+token economy to create a sustainable "time value discoverer"?

I mentioned Pieverse's "Explore Bhutan" campaign before, which auctioned off influencers' time on the platform, creating an opportunity for communication between influencers and interested users. So how does Pieverse work in terms of the model mechanism?

1. Pieverse is a time value discoverer

Simply put, Pieverse is a platform project for time economy. On this platform, anyone can monetize their time, making time assetized and valuable. The reason why Pieverse is a platform for time economy is that the economy itself needs two parties to the transaction, one is the individual who provides valuable time; the other is the individual who is interested in the provider's time. When the needs of both parties match, a transaction occurs. In real life, celebrities, professionals, etc. all have some followers, and they have a certain interest in communicating with each other, but time itself is the most scarce resource. Time itself is also a hard currency, a currency that cannot be issued in excess, so it is valuable to find a mechanism that allows interested parties to communicate.

Therefore, Pieverse is not only a platform for time economy, but also a time value discoverer. Through Pieverse, influential people and professionals can use market-based methods to discover the value of their time in a completely fair manner. Celebrity time is easier to assetize and value, but as time evolves, anyone's time can be assetized and valued, such as time tasks. A person may not be very famous, but he or she is particularly good at something, such as playing games, investing, cooking, taking exams, teaching languages, playing golf, etc., and his or her time can also be assetized, so that everyone's time can be traded relatively fairly, and time can be valued and monetized. In other words, it tries to give everyone the opportunity to put their time on Piverse for auction, lottery, sale, etc.; at the same time, users who are interested in other people's time can also get the opportunity to communicate and learn directly.

So, in essence, Pieverse is a time value discoverer. It uses encryption technology to provide a transparent time value discovery platform for both parties, so that the time value can be finally reflected and realized. Without such a platform, time resources are difficult to use and cannot be maximized, and may be wasted. For example, entrepreneurs want to find truly capable entrepreneurs or investors to communicate and get good feedback, but often lack direct channels. If they use personal connections, etc., it is inefficient and sometimes easy to reach.

Once the scarce resource of time is truly discovered, Pieverse will have the opportunity to achieve the scale and sustainability of the time economy.

2. Several major mechanisms of Pieverse

Specifically, it currently has four time economy trading mechanisms: time bidding, time lottery, time crowdfunding, and time tasks. These mechanisms can make prices fair (determined by the market) and can also solve the trust problem between the two parties in the transaction.

1. Time bidding

The benefit of time bidding is that the time of influential people is put on the Pieverse platform for auction. Through the market approach, the problem of fair price of time is solved. In addition, through a verifiable mechanism, it is guaranteed that users who purchase time can obtain real connections and high-quality interactions. In the open bidding, it is also conducive to improving efficiency and matching by providing clear summaries and user background verification information.

2. Time lottery

Time lottery is more to give ordinary users a chance. Time bidding mainly depends on funds, while time lottery has a certain degree of randomness. As long as users meet certain thresholds, they will have the opportunity to communicate with people of interest through randomness. In addition, Pieverse also provides a fiat currency channel, which allows non-crypto users to participate.

3. Time Crowdfunding

Compared to time bidding, which is about the highest bidder wins, and time lottery, which is relatively based on randomness and luck, time crowdfunding can give more users the opportunity to get more information and listen directly to the sharing of influential people. For example, in the "Explore Bhutan" event, users can participate in the online courses of the Astrology Academy by sponsoring the Dharma lectures of the 9th Living Buddha Rinpoche of Bhutan.

The form of crowdfunding can be flexible. In addition to online lectures and exchanges, you can also participate in closed-door exchanges according to specific circumstances, and even have the opportunity to discuss face to face. The advantage of crowdfunding is that supporters do not have to spend too much money, and at the same time, a certain threshold is set to screen, so that people who are really interested can have the opportunity to communicate and exchange.

From a certain perspective, time crowdfunding can maximize the value of individual time and allow more people to participate. This is a win-win situation for both the providers and demanders of time value.

4. Time Task

Time tasks mainly focus on professional skills services. For example, tutoring, foreign language learning, games, cooking, fitness, etc. This demand is large in scale, which also means that how to resolve disputes is becoming more and more important. Pieverse's solution is to make a custodial system based on smart contracts. From the payment aspect, the demander first needs to pay the time fee, which is managed by the smart contract; only when the demander obtains the supplier's time service, the smart contract will release the funds. In this process, Pieverse plans to introduce token economics + on-chain reputation system to solve it. First, the demander and the supplier need to pledge a certain amount of tokens to encourage both parties to deliver smoothly. If the above mechanisms cannot be resolved, the final step is to use DAO for dispute resolution.

3. Time Arena

Time Arena is a form of time mission. Here, founders can win some time from VC investors to promote their projects; people from all walks of life can win the time of senior people in the industry to gain real valuable experience, etc. At present, many well-known web3VCs have settled in Pieverse, which provides entrepreneurs with the opportunity to communicate directly with VCs.

4. Pieverse’s Evolution Prediction: It May Become a Special RWA Platform in the Future

Why didn’t Pieverse tokenize the time of celebrities or professionals at the beginning? An important point here is that before the value of time is fully discovered, entering the stage of time tokenization too early can easily lead to focusing on speculative transactions, while also making incentives easily misplaced or even deformed. In the end, the original meaning of the time economy is lost.