A new Chinese app called Miao A or “Seconds” allows celebrities and socialites to sell their time to fans, by the second. The unusual service has recently come under scrutiny, however, as investors are also able to buy and trade celebrity time, causing the app to operate as an illegal stock exchange.
The Beijing-based app describes itself as the first time-trading platform that helps fans get access to their favorite celebs. The company buys time in bulk from stars or their agents and then sells it in one-second packets to the public. The platform charges a 3% service fee on all exchanges, and all transactions managed through the Chinese online payment platform NetEase. An average month sees an exchange of 300 to 400 million yuan ($45-60 million) worth of celebrities’ time.
