Time.fun Raises $3 Million in Seed Funding

Time.fun, a crypto startup that tokenizes people’s time, has raised $3 million in a seed funding round led by Brevan Howard Digital.

Other investors in the round included Coinbase Ventures, Breed VC, Zee Prime Capital, and Arthur Hayes’ family office, Maelstrom. Angel investors such as Solana co-founders Anatoly Yakovenko and Raj Gokal, Helius co-founder Mert Mumtaz, and Santiago Santos also participated.

Time.fun began raising money for its seed round in June when it launched and closed the round earlier this month, its pseudonymous founder 0xKawz told The Block. The round was structured as a simple agreement for future equity (SAFE) with token warrants, 0xKawz said, declining to comment on the valuation.

What is Time.fun?

Time.fun is a tokenization platform built on the Ethereum Layer 2 blockchain Base and helps creators tokenize their time. When creators tokenize their time, traders can buy, sell, and redeem that time in minutes, which can then be used to direct message or have 1-on-1 calls with the creator. Creators earn fees when their time is traded or redeemed.

“Time is the most valuable asset one has and it is incredibly hard to execute on,” 0xKawz said. “If done well and successfully, it can really change how society thinks about the value of someone’s time.”

Since launching on June 17, Time.fun has facilitated about 570 ether (ETH) worth of volume (around $2 million based on prices at the time of transactions), and creators have earned around 15 ETH (about $60,000). Time.fun also keeps a share of the fees earned, generating about $45,000 to date.

Time.fun uses a bonding curve—a formula that sets an asset’s price based on its supply—so there’s no limit on the number of tokenized minutes one can trade, according to 0xKawz.

“At some point the value of one’s time gets absurdly expensive and the market should react (sell-off),” they added.

Some of Time.fun’s top creators include Nikita Bier, Paul Veradittakit, Franklin Bi, Larry Cermak, and Steven Zheng.

Time.fun vs. Friend.tech and others

When asked how Time.fun differs from Friend.tech and other similar platforms, 0xKawz said Friend.tech’s end product is a group chat, while Time.fun is tokenizing time, which can lead to various product offerings in the future.

He declined to comment on specific future products but suggested that other offerings could be built on the base contracts of ‘tokenized time.’

Time.fun will also launch its own token in the future, though the timeline is to be determined. 0xKawz wants to prove more product-market fit before considering it.

Time.fun is based in Miami and is a three-person startup, with plans to hire one more engineer experienced in React Native.