TimeCoinProtocol is a decentralized sharing economy platform for dApp developers to easily create and operate new services. It has a successful eSports dApp and the company will soon launch NFT marketplace and DeFi functionalities that offer amazing opportunities for content creators and fans.
TimeCoin Raises Funds for DeFi and NFT Developments
TimeCoin (TMCN) launched a Special Token Sale on February 15th, 2021. The project was initially financed by a few investors who invested around $4 million, now the tokens will be sold on the OTC market for the first time. The sale serves specifically to raise funds for the development and enhancement of the project, and in particular for the eSportStars dApp.
The Alpha version of eSportStars was released in October, 2020, and have already acquired 10,000 users. It is available in Japanese, English, Chinese, Hindi and Portuguese, and the developers plan to expand support for more than 30 languages. The project requires further development, as well as the implementation of DeFi and NFT functionalities in the TimeCoinProtocol and other dApps, and new funds to support development and marketing costs.
TimeCoin CEO, Masato Kakamu, explained in a recent AMA: “We want to create a place where professional players, creators, and fans can easily earn money which also helps them to better engage with their fans. To extend the eSportStars service, we want to offer esports gambling as well. We offer eSports mining for eSportStars participants to earn TimeCoin. The more TimeCoin participants own, the better service they can get.”
TimeCoin can offer an innovative DeFi system which is called Creator Sponsor Staking (CSS) along with the NFT marketplace. Fans can increase their TimeCoin holding by 12% after 6 months of staking and 24% after 12 months of staking. The increased portion will be split 50/50 between the fans and the creators. In return for sponsoring, creators will provide memberships with exclusive services, NFT digital items, services and discount coupons.
To finance these developments, the decision has been made to launch two special, off-market token sales. The first sale will run until April 30th, 2021, and the second one will be launched on May 1st, 2021 and will last until May 31st, 2021.