𝚃𝚒𝚖𝚎𝚕𝚎𝚜𝚜 𝚒𝚗𝚟𝚎𝚜𝚝𝚖𝚎𝚗𝚝𝚜 - Teleshopping for Zoomers
Part II: https://app.getquin.com/activity/giyJpLzFeW
Part III: https://app.getquin.com/activity/tGsaqiLdPH
Up front all just my opinion, no investment recommendation and generally I'm just a dude on the internet so what do I know. This is nothing more than a poorly researched opinion piece. Do with the info what you want.
Have learned of the stuff here and in other communities and allegedly should be switched probably quite a lot of advertising? I find somehow already times a red flag but there are also enough serious providers who advertise. At this point shout out to ad blocker.
In the imprint is the New Horizon GmbH, so just go to the Federal Gazette and looked in the annual financial statements.there is an item "Not covered by equity deficit". I looked in accounting and before I say something wrong ... It is a start-up, app went live only this year. So burning money would not be a surprise for now.
Now you can ask yourself, whose money is being burned there and who is sitting at the wheel right now and what did the people do before? That's where you quickly come across the app Gapless. This offers the possibility to collect information about a vehicle in order to be able to show the history in digital form. If you look further, it doesn't look like the most active project. The last contributions on the website are from 2020 [1] and the app in the Appstore was last updated on July 24. July 2020. [2] But that's good, after all, people should concentrate on their new project and who can rule out that Gapless is just about to hit the big time? FinLab EOS VC Fund, LA ROCA Capital and Porsche AG have invested money or expertise in Gapless. [3] Also, in connection with Gapless, you keep reading, something about blockchain. "Gapless is the world's first blockchain platform for vehicle owners. On www.gapless.app, users can manage their vehicles online and create digital, complete vehicle histories or have Gapless create them." [3] Now I can hear @Xeophon shouting, why don't you use a centralized database! In addition, a part to the appropriate question "To what extent does the blockchain solve the trust problem of vehicle histories? [...] Users can pull all their data together on Gapless without fear that we'll misuse it. This benefits all stakeholders in the vehicle market."
What exactly the Threat model looks like when I upload my MOT, inspection or valuation I don't understand. I'd be curious to hear some inspiring thoughts.
In the article [4] of 28 Oct 2019, Gapless was still looking for a suitable blockchain. Those who were paying attention know where they ended up: EOS. If that means nothing to you, I'll link to a funny segment by John Oliver: youtu[dot]be/g6iDZspbRMg?t=1132 and since EOS is another Rabbithole all its own, have fun DYOR.
Now you could be mean and ask what was chicken and what was egg? Was there first the decision for EOS or first a contact that promised money? Those who haven't tuned out yet might wonder how Gapless plans to make money. "Customers can enter their vehicle into the app and then pay Gapless to aggregate the data they need. The company can also make a profit if the vehicle is insured or sold using that data." [5]
But what does all this have to do with Timeless? Well the aforementioned New Horizon GmbH is behind both Gapless and Timeless. At some point they seem to have had the idea that instead of serving a niche market of fewer richfags with expensive cars, they would rather split up those same cars and sell them to poorfags. Is that bad? No, not at all.
So let's get straight to Timeless. At first sight the concept is very simple - an object is divided and you can buy the shares. What is the good thing about it for the customer? You can participate in the increase in value of objects that would normally be far too expensive for you. What is the good for Timeless? Timeless earns whether the value goes up or down. The service fee and management fee are paid immediately when the share is purchased.
For the purchased share, one enters into a master agreement (the one I could see, 23 pages) with New Horizon GmbH. Since I didn't feel like buying anything myself, I looked at contracts that others had uploaded to the web. [9]
The contract states that shares are generated for the object and that this generation is done by New Horizon. The shares are represented by tokens that are held in a wallet. New Horizon holds the wallet including the private key on behalf of the customer. I could not see on which blockchain this runs in the contract, but I would have a hot tip... what added value this construction currently brings I also do not know. Should it actually come as described in the contract to a "tradability on suitable crypto exchanges or marketplaces" is certainly different. The sale of the tokens may depend on the approval of New Horizon, so if necessary a sale is not possible. Likewise, the customer cannot determine when the underlying object is sold.
The fact that the whole thing runs on EOS was confirmed in a comment on Insta. [10] Since there are now the trading windows, the contract may have been adjusted again. The windows are periods in which the shares can be traded between customers. Timeless earns money with every trade. The seller does not pay anything, but the buyer has to pay a service fee and a management fee. [11] The trading hours are supposed to be always on Tuesdays, between 11 and 17 o'clock. On the other hand, the website just says: "The next trading window is on Tuesday, November 2, 2021." [12] You have to go through KYC to trade. [13]
On Thursdays, the new items are supposed to come around 11am. "Thursday is Drop-Day" [14] If you take that together with the great expected returns and down running shares, it results in something that reminds me of teleshopping. Buy now quickly, everything super cool, do not question long otherwise it is gone. If one has already leveraged the FOMO here, it then continues in the trading window. The shares were gone quickly at the drop, so better buy quickly if they are available on the one day times briefly.
Regarding the topic of the value of an object, using the example of a sneaker, I refer to a video that also deals with Timeless. [15]
So first enough typed, is there actually a character limit here and does anyone read the whole thing at all, except people who want to sue me then if necessary?
No investment recommendation, all just my opinion, because my diary is just full.
[1] https://www.gapless.app/de/blog/
[2] https://play.google.com/store/apps/details?id=app.gapless
[4] https://www.netzpiloten.de/interview-gapless-ceo-jan-karnath/
[5] https://financefwd.com/de/gapless-eos-millionen/
[6] https://www.gapless.app/de/impressum/
[7] https://www.timeless.investments/impressum
[8] https://www.timeless.investments/faq/finanzielles/gebuehren
[9] youtube[dot]com/watch?v=3g0LIdI-VcQ
[10] https://www.instagram.com/p/CVur50KJh9v/
[11] https://www.timeless.investments/faq/trading/gebuehren-handel-von-anteilen
[12] https://www/faq/trading/wann-sind-die-handelszeiten
[13] https://www.timeless.investments/magazine/trading-verifizierung-account
[14] https://schoesslers.com/hype-objekt-als-nfts-koons-und-banksy-ab-50-euro/
[15] youtu[dot]be/8V-xStjoSQg?t=173
