Is TreasureFun a Legit Company? Analyzing Its Details

TreasureFun has recently caught the attention of many within the crypto community, particularly due to its claims of transforming NFT trading with artificial intelligence and its generous referral incentives. 

But is TreasureFun a trustworthy business venture, or is it something investors should be wary of? 

This article aims to provide a thorough analysis of TreasureFun’s origins, leadership, investors, business model, and credibility to help you evaluate whether it’s a legitimate company or a potential risk.

What is TreasureFun?

TreasureFun, also referred to as TreasureNFT, presents itself as an encrypted digital marketplace focused on NFT trading powered by AI algorithmic models. 

According to its official materials, the platform was designed to reduce the barriers to entry in NFT markets by allowing both seasoned and beginner users to trade NFTs with automated pricing and liquidity systems.

Unlike traditional platforms where NFTs can become difficult to sell once demand decreases, TreasureFun attempts to address this issue with algorithmic price management. 

The platform uses pooled trading mechanisms and fractional NFT ownership to maintain liquidity and attract participation.

TreasureFun also integrates community-driven governance through DAO, allowing token holders to participate in decisions. Additionally, it promotes a referral-based earning system, where users gain commissions and incentives through multi-tiered recruitment and NFT trading activities.

Read also: Treasure NFT TUFT Token: Latest News, Launch Date & Price Forecast

About TreasureFun Company

Founded in 2021 and operating from San Gabriel, California, TreasureFun (also known as TreasureNFT) functions under the registered legal entity TreasureMeta Technology LLC, which was incorporated in August 2022. 

The platform emphasizes its commitment to providing an accessible NFT marketplace that integrates automation and advanced algorithmic features to offer both liquidity and pricing consistency.

Despite its ambitious goals, the company’s corporate transparency has come into question. Its official website is listed as treasurenft.xyz, but beyond the digital presence, concrete details on its internal operations and long-term strategy remain limited.

TreasureFun Funding and Investors

TreasureFun is still in its seed stage, having completed its first round of funding on October 24, 2022. The amount raised remains undisclosed, but public records suggest that the round was supported by six institutional investors, including DCT Capital, Tradersquare, Automatic Venture Group, and CryptoCup.

With over 1,500 active competitors in the NFT space, TreasureFun ranks 67th, placing it among emerging projects but far from dominant platforms like OpenSea or Gemini. 

The undisclosed funding amount and lack of financial metrics on revenue or profitability make it challenging to evaluate the financial health or growth potential of the business.

Read also: TreasureNFT: A Complete Guide to Activating Your Account on TreasureFUN for Free

TreasureFun Founders and Board of Directors

TreasureFun was founded by Steven Alexander and Muhammad Ishaq Safdar. While the company attributes its innovations and leadership to these two individuals, there is little verifiable information about their professional backgrounds, public appearances, or previous blockchain-related experience.

Several industry analysts and users have expressed concern over the lack of legitimate digital footprints of these founders. 

Attempts to find professional social media profiles or interviews have returned limited results, which has raised further skepticism about the authenticity of the leadership. 

While anonymity is not unusual in the crypto space, in this case, the absence of credible evidence may undermine user confidence in the project.

Is TreasureFun A Legit Company or Scam?

The legitimacy of TreasureFun is debated. The platform offers high-yield returns through its referral system, promises of daily and monthly profits, and a unique AI-based NFT trading model. However, upon closer inspection, several red flags emerge:

1. Unrealistic Profit Promises

TreasureFun advertises daily returns of up to 6.8%, a figure that is generally unsustainable in any legitimate investment scenario. Promises of high guaranteed returns often signal Ponzi-like schemes, where earlier investors are paid with funds from new participants.

2. Multi-Level Referral Structure

The referral system allows users to earn commissions from multiple levels of recruits, resembling a pyramid-style structure. While not illegal on its own, the combination of multi-level rewards and high return promises is a known tactic used in fraudulent schemes.

3. Lack of Transparency

TreasureFun fails to provide detailed explanations of how its AI algorithm works or how it generates returns. Additionally, the whitepaper and technical documentation are limited, which makes it difficult for investors to assess the validity of the platform’s claims.

4. Questionable User Reviews

Although the platform has a 4.7-star rating on app stores, several crypto experts argue that these reviews are suspiciously positive and likely manipulated. Some reviewers report receiving offers of payment in exchange for positive testimonials.

5. User Complaints and Withdrawal Issues

Recent reports from users highlight problems with withdrawing funds, frozen accounts, and unresponsive customer service. Such signs are concerning, especially when combined with other risk factors.

Read also: TreasureNFT Raja Bazaar Launch: NFT Drops Celebrating Cultural Landmarks

Conclusion

While TreasureFun introduces innovative concepts to the NFT space, such as AI-powered trading and pooled liquidity, the overall structure and behavior of the company raise serious concerns. 

Its lack of transparency, unverifiable leadership, unrealistic profit promises, and aggressive referral program are key warning signs. The absence of publicly available audits or trustworthy third-party assessments makes it difficult to recommend TreasureFun as a safe or reliable investment.

Investors and crypto enthusiasts should approach this platform with caution, conducting independent research and avoiding any financial commitment that they cannot afford to lose. In the fast-moving world of crypto, due diligence is essential.

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Frequently Asked Questions (FAQ)

Q: What is the treasure NFT? 

A: TreasureNFT is a digital marketplace that uses an AI trading model to make it easier to buy and sell NFTs. Its goal is to lower barriers for entry and expand NFT collecting and trading.

Q: Why was Treasure NFT removed from the Play Store? 

A: Treasure NFT was removed from the Play Store because it was found to be illegally scamming people through a Ponzi scheme, demanding users add more people and money to earn.

Q: Who is the founder of Treasure NFT? 

A: TreasureNFT has four founders, including Steven Alexander (Owner & CEO) and Muhammad Ishaq Safdar (Co-Founder).

Q: Is Treasure NFT halal? 

A: No, Treasure NFT is considered both a scam and forbidden (haram) because it operates on a deceptive referral system without any real business activity.

Q: Why does Apple remove Treasure NFT? 

A: Apple might remove apps like Treasure NFT due to regulatory issues if they face legal scrutiny or compliance problems. Also, if an app has security flaws that endanger users, Apple may remove it to protect them.