Time is RWA, how does Pieverse create a sustainable "time value discovery tool" using DAO + Token economy?

Author: Blue Fox Notes

The "Explore Bhutan" event of Pieverse mentioned earlier involves auctioning the time of influential figures on the platform, creating an opportunity for communication between influential figures and interested users. So, specifically regarding the model mechanism, how does Pieverse operate?

1. Pieverse is a time value discoverer.

To put it simply, Pieverse is a platform project that does time economy. On this platform, anyone can monetize their time and make it asset and value. The reason why Pieverse is a platform for the time economy is that the economy itself needs to have two sides to the transaction, one side is the individual who provides value time; One party is an individual who is interested in the provider's time. When the needs of both parties match, a deal is made. In real life, celebrities, professionals, etc. all have some followers and have a certain interest in communicating with each other, but time itself is the most scarce resource, and time itself is also a hard currency, a currency, which cannot be issued, so it is a valuable thing to find a mechanism for interested parties to communicate.

Therefore, Pieverse is not only a platform for the time economy, but also a discoverer of the value of time. Through Pieverse, influencers and professionals are able to do their time for full and fair value discovery in a market-based way. It is easier to capitalize and value a celebrity's time, but with the evolution of time, anyone's time can be assetized and valued, such as time tasks. A person may not be very famous, but TA is particularly good at a certain aspect, such as playing games, investing, cooking, taking exams, teaching languages, playing golf, etc., and can also capitalize their time, etc., so that everyone's time can be traded relatively fairly, so that time can be valued, and time can be realized. That is, it tries to give everyone the opportunity to put their time into auctions, sweepstakes, sales, etc., on Piverse; At the same time, users who are interested in other people's time can also get direct communication and learning opportunities.

So, in essence, Pieverse is a time value finder, which uses cryptography to provide a transparent time value discovery platform for both demand parties, so that time value can finally be embodied and monetized. Without such a platform, it is difficult to utilize time and resources, and it may not be able to maximize its value, and it may be wasted. For example, entrepreneurs want to communicate with truly capable entrepreneurs or investors to get good feedback, but they often lack direct channels, and if they use contacts and other methods, they are inefficient and sometimes easy to reach.

Once the scarce resource of time is truly valued, Pieverse has the opportunity to scale and sustain the time economy.

II. Several Mechanisms of Pieverse

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

1. Time Auction

The benefit of time bidding is to auction the time of influential figures on the Pieverse platform. By using a market approach, it addresses the fairness issue of time pricing. Additionally, through a verifiable mechanism, it ensures that users who purchase time can obtain genuine contact and high-quality interactions. In open bidding, providing clear summaries and user background verification information also helps improve efficiency and facilitate matching.

2. Time Lottery

Time lotteries are more about giving ordinary users a chance, while time auctions mainly depend on capital. Time lotteries have a certain degree of randomness. As long as users meet certain thresholds and go through randomness, they have the opportunity to communicate with interesting people. In addition, Pieverse also provides fiat channels, allowing non-crypto users to participate.

3. Time Crowdfunding

Compared to the time bidding where higher prices win, and the time lottery which emphasizes randomness and luck, time crowdfunding can provide more users with opportunities and allows them to directly listen to influential figures sharing their insights. For example, in the "Explore Bhutan" event, users can participate in online courses from the Astral Academy by sponsoring the Dharma lecture of the Ninth Karmapa of Bhutan.

The form of crowdfunding can be flexible. In addition to online lectures and discussions, it can also involve closed-door communications based on specific circumstances, and even provide opportunities for face-to-face discussions. The benefit of crowdfunding is that supporters do not need to spend too much money, while setting certain thresholds to filter and allow genuinely interested individuals to have opportunities for interaction and communication.

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 the demanders of time value.

4. Time Task

The time assignment is mainly focused on professional skills services. Such as tutoring, foreign language learning, games, cooking, fitness, etc. The scale of this demand also means that how to resolve disputes is becoming more and more important. Pieverse's solution is to make a smart contract-based escrow system, from the payment aspect, first of all, the demand side needs to pay the cost of time, and the fee is hosted by the smart contract; Only after the demand side receives the time service from the supply side will the smart contract release the funds. In this process, Pieverse plans to introduce tokenomics + on-chain reputation system to solve the problem. First, the demand side and the supply side need to stake a certain amount of tokens to encourage smooth delivery on both sides. If none of the above mechanisms can be resolved, the final step is to use a dispute resolution DAO to intervene.

3. Time Arena

The Time Arena is a form of time task presentation. Here, founders can win some time from VC investors to promote their projects; people from various industries can win time from industry veterans to gain real valuable experience, etc. Currently, several well-known web3 VCs have settled on Pieverse, providing entrepreneurs with the opportunity to communicate directly with VCs.

4. Evolutionary Expectations of Pieverse: It may become a special RWA platform in the future.

Why didn't Pieverse tokenize the time of celebrities or professionals in the first place? It is important to note here that entering the stage of time tokenization too early before the value of time is fully discovered can easily lead to a focus on speculative trading, and at the same time, incentives are prone to misalignment or even deformity. In the end, the original meaning of the time economy is lost.