Odaily Planet Daily reports that Timefun has announced it will gradually shut down its existing creator token platform, retaining only fund withdrawal and asset transfer functions in the future, in order to complete the transition to a new product model.

Timefun founder Kawz stated that the new application will completely abandon the creator token model, instead building a next-generation social platform based on crypto technology. He pointed out that although the team remains optimistic about the long-term potential of creator tokens, current market user activity and transaction demand are clearly insufficient, making the current model unable to support the product's sustainable development.

Kawz further stated that the new social platform will be designed around "on-chain identity and social incentives," aiming to allow users to naturally generate on-chain assets and a reputation system through social interactions, rather than relying on speculative token issuance. "We believe that social interaction is the long-term theme of crypto, and Timefun's new chapter will focus on building real relationships and an on-chain value network," he added.

The Timefun team revealed that the new product has entered the internal testing phase and will announce a product preview and testing invitation plan in the coming weeks.