Binance founder and former CEO CZ shared his vision for KOLs tokenizing their time on Binance Square. CZ stated that although similar attempts have been made in recent years, none have gained traction yet. He believes that reach, rather than time, holds true value. While platforms like LinkedIn and X (Twitter) offer similar functionalities, their low barriers lead to excessive spam, making them inefficient.
In the model CZ described, KOLs link their X or LinkedIn accounts to the platform, verifying their identity. He then sets a price for people to message him, say, 1 or 0.1 BNB. Anyone can message him/her by paying that amount first. If the KOL does not respond within 5 days, 50% of the paid amount is returned to the requester. There is still a cost to the requester, which deters spamming and encourages them to write the message effectively. The KOLs are incentivized to respond. They get paid 50% more.
CZ further stated that he would use a platform like this and donate the crypto he receives to charity. This helps filter out only serious people who want to reach him. He may move the conversation off the platform when the other party has something serious to offer, return the payment, or even give a bounty (e.g., for security tips). He will then be able to open up his DM to everyone and adjust the price over time based on how unpopular he is.
Additionally, CZ revealed that YZiLabs may invest in a project that develops a good MVP using BNB/BSC as the primary payment option. It should take a few days to a week of coding and a security review. He will be the first user, provided the platform is secure enough.
