Time-based Assetization: By Defioasis

Recently, Binance founder CZ expressed his idea of time-based assetization, that is, KOLs assetize their time.

Author: defioasis

Editor: Colin Wu

Recently, Binance founder CZ expressed his idea of time-based assetization, that is, KOLs assetize their time. The basic idea is that anyone can prepay a KOL to send a message, which allows KOLs to exist as consultants and get paid for their expertise and popularity. CZ's main idea advocates the use of BNB as a payment currency without issuing new assets.

Before CZ's idea, attempts to assetize KOLs were made from friend tech to Clout and Tribe Run invested by AllianceDAO, but they all ended in failure. Another platform invested by AllianceDAO and Solana core members, time fun, is still exploring time assetization with the continued forwarding support of Solana co-founder toly.

Unlike CZ who is considering using BNB as a means of payment and does not need to issue new time assets, the core of time fun includes creators (celebrities/KOLs) issuing time assets and using time assets as a means of payment. Simply put, after the creator launches time fun, users purchase it on the internal disk of time fun, and when the internal market value reaches 100,000 US dollars, it will be launched to the external disk DEX; users can hold a certain amount of time assets to join the creator's chat group or pay the required time assets in exchange for opportunities for interaction, including DM, voice conferences and video conferences. This means that before practicality, creators need to issue their own time assets first, which can actually be regarded as a variant of celebrity coin issuance, because only the time of celebrities is valuable. [Note: Celebrities are used to replace creators later, and KOLs are also part of celebrities]

Since Trump launched his own Trump Memecoin, Trump's wife, Argentine President Milley and some small country leaders have successively launched their own Memecoins. Among them, there are endless cases of fake CA links being posted by celebrities or government officials due to hacking. How to verify the authenticity of celebrity posts has become one of the problems; celebrities' failure to manage assets after posting is another problem. Time Fun provides solutions to these two problems to some extent.

First, celebrities need to go through at least two levels of verification to issue assets on time fun, namely binding a Twitter account on time fun and manual verification by the platform. After the manual verification is completed, a Time Market Code will be given to the celebrity to set the amount to be paid to join the group chat or DM/voice conference/video conference. The former is priced in currency, and the latter is priced in U standard, but both are paid in time assets. After completing the settings, celebrities can launch their own time assets.

After the celebrity is launched, users can prepay a certain amount of time assets according to the amount set by the celebrity to get the opportunity to interact. Of course, the celebrity can refuse DM/meeting, and the prepaid time assets will be returned, but time fun sets up a response rate and user scoring mechanism as a supervision. If the celebrity has a low response rate or the user is dissatisfied with the celebrity's performance in the private chat and gives a low score, these will theoretically affect the function of the celebrity's time assets at the practical level, and further affect the price.

At present, the investors behind time fun are the most active on the platform, such as Solana co-founders Toly and Raj, AllianceDAO co-founder QwQiao, etc. These people with backgrounds in investors and ecosystems can give Web3 entrepreneurs an opportunity to face the top directly, but if the platform wants to go beyond the circle, it cannot be limited to celebrities in the Crypto circle. How to introduce non-Crypto or Crypto-weakly related celebrities or even national presidents is actually a great test of the resources and influence of the team and investors in the real world. Time fun CMO Pedro recently stated in the community that some OnlyFans creators will be introduced. Friend tech, which was once very popular, set off a wave of KOL assetization by relying on a large number of OnlyFans creators to settle in.

From the perspective of product trading, Time Fun’s celebrity coin transactions can be divided into three situations: limited to internal trading on the platform, external trading on the platform, and external trading directly on DEX without using the platform. It is worth noting that whether it is in the internal market or has been launched to the DEX external market, as long as the user recharges USDC into the Time Fun platform to trade time assets, he can enjoy the non-custodial wallet without paying Gas fees.

Limited to internal trading on the platform

Although the above has been talking about "celebrity issuing coins", in the actual link of time fun's launch, the platform assumes the role of the Token Creator of any celebrity, which may to some extent help celebrities avoid certain legal risks when issuing coins.

In internal transactions, users need to pay 0