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, and 0xKawz declined to comment on the valuation.

What is Time.fun?

Time.fun is a tokenization platform built on the Ethereum Layer 2 blockchain Base, helping 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 (which equals approximately $2 million based on transaction prices), and creators have earned around 15 ETH (around $60,000 based on transaction prices). According to 0xKawz, Time.fun also retains 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 available for 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, founder of Gas (acquired by Discord) and TBH (acquired by Facebook), Paul Veradittakit and Franklin Bi of Pantera Capital, and Larry Cermak and Steven Zheng of The Block, according to its website.

Time.fun vs. Friend.tech and Others

When asked how Time.fun differs from Friend.tech and other similar platforms that let users engage with creators, 0xKawz said Friend.tech's end product is a group chat, while Time.fun tokenizes time, potentially leading to diverse future product offerings.

He declined to comment on what kinds of products might emerge but noted, "You can imagine other products built on top of the base contracts of 'tokenized time.'"

Time.fun plans to launch its own token in the future, with the timeline still to be determined. "I want to prove more product-market fit before considering it," he stated.

Time.fun, based in Miami, is a three-person startup, and 0xKawz added that they aim to hire one more engineer experienced in React Native, an open-source user interface software framework.

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