Creative marketers and Blockchain programmers have teamed up to launch mytime, a platform designed to reward online buyers of services for their time.
“Our time is finite while the amount of services and content keeps growing. Companies fight for customers’ attention. We offer to turn time into a measurable value and give an efficient tool to businesses and users,” the company claims.
For example, a video game aficionado may receive tokens for every minute of online fun, while a taxi passenger may get these tokens from the taxi company based on the time he spent on the road. Meanwhile, service partners may earn token by attracting loyal users to the platform.
These tokens, dubbed ‘mytimecoin’ (MYTC), can be used to purchase services on the platform, or be converted to fiat money.
mytime was launched earlier this week by a Cyprus-based company with Russian roots. Its CEO Eduard Gurinovich, a serial entrepreneur (CarPrice, CarMoney), touts mytime as “a revolutionary concept” which will “give [advertisers] a run for their money.”
The platform is open to “any business interested in attracting users and developing loyalty programs.” Prior to launch, several dozens of companies participated in testing the platform, according to mytime, which however declined to name them.
Nowadays a variety of applications aim to reward users for their time and attention. Obvioulsy, the smart contract and cryptocurrency technologies can help make this concept more realistic, and deploy it all around the world; however mytime is not the first one to try to do so.
Headed by former Mozilla CEO Brendan Eich, Basic Attention Token (BAT) is also designed to trade user attention. This platform, now under development, will generate tokens that can be used as a unit of account between advertisers, publishers, and users. The project also relies on a new browser, dubbed ‘Brave,’ which blocks ads and trackers.
On May 31, BAT raised the equivalent of $36 million in the first 24 seconds of its ICO, probably the quickest one in history. This success seems to have inspired mytime’s founders, who have invested in their project $1 million from their own pockets and plan to launch an ICO next month.
