Pigzbe is a “piggy wallet not a piggy bank” designed to introduce children to currency management. Find out how it works today in our review.
What Is Pigzbe?
Pigzbe, found online at Pigzbe.com, is a “smart piggy-wallet” for children ages 6 and up. The goal of the phone-shaped device is to teach children the value of currency management in a fun and interactive way.
The “Pigzbe experience” includes a digital token, the Pigzbe app, and the Pigzbe hardware device. Together, this experience is designed to replace physical money normally stored in a traditional bank, giving kids and families a digital alternative.
Many kids grew up learning about money management with a “piggy bank”. Pigzbe, meanwhile, aims to teach kids about currency management in a modern, tangible, and educational way. It aims to reinvent the piggy bank by creating a device catered to modern, globalized, technologically-oriented families.
How Does Pigzbe (WOLLO Token) Work?
Pigzbe is powered by a family-friendly cryptocurrency named Wollo (WLO). This is the native token of the Pigzbe platform.
Wollo is designed to replace physical coins that are traditionally stored within physical piggy banks. It enables saving, learning, and playing within the Pigzbe ecosystem.
The device also comes with a wallet app and an educational game. The wallet app allows children to view their cryptocurrency holdings in WLO or USD. Parents can transfer pocket money to children via the Pigzbe app for parents. The game, meanwhile, is designed to teach kids the value of money.
There are two types of Pigzbe units, including:
- Pink Pigzbe (Classic): A controller and notification device for children.
- Black Pigzbe (VIP): A cold storage device for adults.
You can use Pigzbe as a cold storage device for cryptocurrencies or a game controller. When used as a gaming device, you can control Pigzbe inside the app, then receive haptic and visual feedback off-screen.
There’s even a Wollo card you can order to spend your WLO tokens in the real world. Children can spend their hard-earned WLO in multiple currencies and in the real world: online, offline, and with selected retailers.
Some of the core functions of Pigzbe include:
Reinventing the Piggy Bank: Physical money is on its way out, and that means the piggy bank is becoming increasingly irrelevant. Prepare children for the digital currency future with Pigzbe.
Families Can Become Micro-Financing Networks: Pigzbe provides a decentralized, global, borderless payment network within families. You can easily transfer small amounts of WLO tokens to and from different family members.
Accelerating Cryptocurrency Uptake: Pigzbe aims to increase public awareness of cryptocurrencies, providing a fun and user-friendly introduction to the industry.
Pigzbe Features And Benefits
Pigzbe advertises the following features and benefits:
- Safe and secure
- Completely borderless (available in 180+ countries)
- Accessible to all
- Fun and engaging
- Hands-on play
- Fast transfers of 3 to 6 seconds
- Cheap transaction costs of less than $0.01
Use Cases For Pigzbe
The Pigzbe website outlines a number of use cases for Pigzbe – from rewarding kids for chores to gifting money. Some of the identified use cases include:
- Gift money by sending children WLO tokens as one-off payments for birthdays or celebrations
- Reward chores with WLO tokens
- Set allowances
- Create a network, inviting and managing friends and family members to take part in the Pigzbe experience
- Teach children the value of earning and saving WLO tokens over time
- Teach children to visualize their savings with fun and interactive in-app displays
- Spend WLO tokens for products and services in the real world using the Wollo card
What Problems Does Pigzbe Seek To Solve?
Why do we need a device like Pigzbe? What problems does it solve in today’s marketplace? Here are some of the problems solved by Pigzbe:
- High transfer fees hinder the true microfinancing nature of piggy banking and financial education in the early years
- Banking services are limited to specific geographies and rarely cater to modern, distributed, globalized families
- Poorly-executed products on the market today reimagine piggy banks as toys with little use beyond the early years
How Do Wollo Tokens Work?
Wollo tokens are rewarded for various interactions on the platform. Tokens will be released through the following mechanisms:
- Tokens will be transferred with each physical wallet purchased and registered to the network
- Tokens will be transferred for inviting new members to the network and adding new family members and referral purchases
- Tokens can be purchased and sold on the Stellar Distributed Exchange (SDEX)
- Tokens can be gifted to children by parents and other family members within a microfinancing family network
- Tokens can be earned for acts of entrepreneurial services provided by children to families within their network
- Wollo tokens can be exchanged for products and services in the real world via the Wollo Card
There will be a total supply of 675 million Wollo tokens (WLO). Of the total supply, 25.9% (175 million tokens) will be distributed during an ICO, 29.6% (200 million) will go to a network growth pool, and 14.8% (100 million) will go to an active user incentive pool. The remaining tokens will be held by the company, split into a founders pool (14.8% or 100 million tokens), a service providers pool (75 million or 11.1%), an M&A pool (1.9% or 12.5 million), a partnerships and advisors pool (1.9% or 12.5 million).
Who’s Behind Pigzbe?
Pigzbe was created in London by the same award-winning designers behind the Kano Computer and the Cubetto Playset. The team previously held positions at Apple, Google, and other companies.
Key members of the Pigzbe team include Filippo Yacob (Founder and CEO), a Forbes 30 Under 30 2017 Alumnus, co-founder of Primo Toys, and creator of the Red Dot Award-winning and Montessori-approved Cubetto, a coding toy sold in 100+ countries.
Other listed members of the team include Adam Amos (Founder and COO), Jon Marshall (Founder and Chief Experience Officer), Cat Le-Huy (CTO), Hugo Shelley (Founder and Head of Hardware Engineering), John Galpin (Founder and Head of Marketing), and Richard Williams (Founder and Head of Commercial Strategy).
Pigzbe (WOLLO Token) Conclusion
Pigzbe aims to reinvent the piggy bank experience for the modern, digital world. The Pigzbe experience consists of a digital currency called Wollo (WLO), a mobile app called Pigzbe, and the physical Pigzbe device. The device functions as a combination between a game controller, a wallet, and a notification display system.
To learn more about Pigzbe and how it works, visit online today at Pigzbe.com.