Time is money: China has released an app where fans can buy celebrities' time
A new Chinese app called "Miao A" allows celebrities to sell their time to fans per second. It would seem that the idea is great, the fans are happy. But this application gave numerous opportunities to scammers, which interested lawyers.
The app, developed in Beijing, is described as the first trading platform that helps fans gain access to an idol. The company buys time from stars or their agents, and then sells it to fans per second. On average, $45-60 million worth of time is sold per month. Interaction with a celebrity can take place in an online chat, on social networks, and even in person.
For the purchase of one second, your favorite celebrity will write one message in the chat. A regular or video call will cost about 600 seconds. The app already features more than 500 celebrities: actors, models, musicians, athletes. An Olympic speed skater, for example, offers to conduct a skating class, and well—known entrepreneurs offer business consultations.
Fans can exchange their "celebrity time" on an open exchange. This is what caused concern among lawyers. Despite government approval, the application carries financial risks for users. Representatives of the application, in response to these concerns, stated that they had introduced additional measures to manage the growing market. For example, they have limited the maximum percentage by which the price can increase during the secondary sale of time.
Keywords: Time | Stars | China | Mobile app | App