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Timefun is transitioning to a new product
A note to the Timefun community.
TLDR:
Timefun is transitioning to a new product & brand. Points earned on Timefun will migrate to the new app and no points inflation will occur. The new app will not involve creator tokens and will instead focus on a new social primitive. Therefore, the current platform (Timefun) will be spun down and only selling/withdrawing of funds will be maintained for at least the next few months. Please make sure to withdraw funds & export keys at your earliest convenience. The new app will be a crypto app over time.
How we got here:
I’ve been working on ‘socialfi’ and creator tokens for the better part of two years. I’ve seen it all - and gave it my all to try to make it happen.
Over the last few weeks, I’ve met with Timefun’s investors to discuss the potential V2 launch, creator tokens, and socialfi at a high level - the overwhelming conclusion has been that while creator tokens are promising, they are probably at least a few years out, if ever.
I cannot ignore the evidence that at least currently and for the foreseeable future, the market is rejecting creator tokens. CCM has been high in mindshare on CT for the last few months, so it isn't a marketing problem. The market is clearly voting with their dollars. And the vote is against CCM.
We gave it our all in trying to kickstart this sector post-friendtech. From onboarding the top creators/founders/experts, to viral campaigns and auctions, to providing real utility for tokens. Unfortunately none was enough to sustain the tokens nor the platform.
I’m bullish on creator tokens and still believe in them. I do hope Pump/Zora/Arena and other teams figure them out, because betting and having upside in your favorite creators makes sense, and IMO is a much better model than how it is in web2.
Timefun’s transition
In the coming days, we will announce the rebrand & new product direction for Timefun. The current Timefun app will be spun down, and only selling/withdrawing of creator tokens & funds will be supported in-platform. Of course, these tokens are traditional SPL tokens and will live on forever. The platform will be in a maintained state for at least the next few months, so there’s no rush in withdrawing.
To the Timefun community, I deeply appreciate your support over the last two years.
My promise to you: the new product will be a crypto product, over time. The points you’ve earned on Timefun will carry over to the new app and there will be no points inflation. I am loyal to the people loyal to me. Regardless of whether or not you use the new product, your points will be retained and there will be one last final points distribution for Timefun (snapshot occurred before this announcement).
Moving forward
The new product will be a social app introducing a new primitive. I’m excited to unveil this, as I do think it solves a plethora of issues we currently see with social apps (AI slop, larping, etc).
Community support
I’ll be extremely active in the next few days to answer any questions about Timefun or the new direction. Feel free to ask in this thread or in Timefun’s discord.
It is indeed a bittersweet moment, working day and night on a product for two years to watch it have to pivot. But alas, we carry on.
Onwards..
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