So long, TokenClub
Or, why we’re shutting down a business with Product/Market fit
Today we’re announcing that we’re placing TokenClub, our monthly subscription service for curated, vetted ICO tokens, into dormancy.
Why are you closing TokenClub?
We’re doing this for a couple of reasons.
- State of the ICO landscape. We started TokenClub in October 2017, in the midst of the ICO boom. What excited us about ICOs was the same thing that excited our customers — democratized access to public sales of utility tokens. The landscape has since shifted — there are far fewer quality token sales and the quality sales that do occur are heavily gated by access and capital. Our model was to provide you with a basket of 8–10 high quality tokens per month — projects that we believed in, that were focused on fundamental blockchain infrastructure, adoption or consumerization, and that were technically sound. That goal is not currently achievable. We refuse to stuff our monthly baskets with low-quality projects just to sell tokens.
- Focus. We’re putting all our energy and resources behind Groundhog — our crypto payment processing platform focused on enabling recurring payments and the dApp economy.
We’d like to thank all of our customers, and we appreciate your business, support and feedback from the bottom of our hearts. We’re extremely proud to have been able to provide you with some of the highest quality project tokens we’ve seen in the ecosystem to date — including AirSwap, Bloom, Dala, EnjinCoin, ETHLend, Polkadot, RocketPool, Sirin Labs, and Zen Protocol, through what we think was one of the most innovative direct-to-consumer products in crypto to date.
How do I withdraw my tokens?
If you’re a customer, and you still have tokens in the TokenClub Vault, your tokens are safe, and we’re not going anywhere. We’re simply putting TokenClub into dormancy and not putting out new monthly token baskets or taking new subscriptions. Our team and infrastructure remain intact, and withdrawal procedures will be active until everyone has received all their tokens.
To withdraw your tokens
Make sure you’ve added and verified an Ethereum address inside your TokenClub My Account section, and we will automatically deliver your tokens to that address. If any tokens are part of token sales which are not yet distributed or unlocked, you will receive those automatically as well, as soon as they are distributed/unlocked on our side.
If you were a subscriber in October or December 2017, your baskets contain Polkadot or Zen Protocol tokens, which are non-Ethereum genesis tokens and each require a different withdrawal procedure. We will be contacting you separately with instructions for these tokens.
How do I contact you?
We’re available via email at support@tokenclub.co, and you can chat with us in our Telegram group.
Best regards,
The TokenClub Team
What are you working on now?
Introducing Groundhog
TokenClub is a project of BlockCrushr Labs — our award-winning blockchain venture development studio — and we’re not stopping for a minute!
While we were building TokenClub, we encountered a major pain point for both customers and merchants — it’s difficult or impossible to make or accept recurring subscription payments in crypto.
We’re tackling this challenge head-on by building The Groundhog Network — a crypto payment platform for consumers and merchants, focused on enabling recurring payments and the dApp economy.
The Groundhog Network is composed of:
- The Groundhog Wallet, a multi-blockchain crypto wallet, browser, and hub for your decentralized life
- and Groundhog Pay, a payment platform that lets merchants virtually anywhere in the world accept all types of cryptocurrencies including subscription payments over Ethereum.
Find our more about Groundhog by reading our announcement post, Introducing Groundhog.
To keep up with what we’re doing with Groundhog, and to get first-in-line access to any airdrops, betas, token sales or special offers, enter your email address below.
