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Time.fun has announced the shutdown of its Creator Token platform and the transition to a cryptocurrency-based social app.
BlockBeats News, November 5th, Timefun founder Kawz stated that Time.fun announced that it will gradually shut down its existing creator token platform. The platform will only retain functions for fund withdrawal and asset transfer in the future to complete the transition to a brand-new product form. The new application will completely abandon the creator token model and instead build a next-generation social platform based on encryption technology. He pointed out that although the team still believes in the long-term potential of creator tokens, the current market lacks user activity and transaction demand, making the model unsustainable to support the product's development.
Kawz further stated that the new social platform will be designed around "on-chain identity and social incentives." The goal is to allow users to naturally generate on-chain assets and a reputation system through social interactions, rather than relying on speculation-driven token issuance. The new product has entered the internal testing phase and will announce product previews and test invitation plans in the coming weeks.
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