Version 5.0, published on 24 July 2026.
New Horizon GmbH (“New Horizon“) operates at www.timeless.investments and via the Timeless app (“App”) a platform (“Timeless” or the “Platform”) for the purchase and trading of fractional ownership (Bruchteilseigentum) of collectibles (“Fractional Ownership”) and other crypto-assets within the meaning of Art. 3(1)(5) of Regulation (EU) 2023/1114 (“MiCAR“), which embody Fractional Ownership (“Other Crypto-Assets“).
a. Purchase of and trading in Fractional Ownership that is not an Other Crypto-Asset
The purchase of and trading in Fractional Ownership that is not embodied by Other Crypto-Assets is not subject to MiCAR regulation, but is subject to regulation under the German Securities Institutions Act (Wertpapierinstitutsgesetz, “WpIG“). In order to be able to trade Fractional Ownership on the Platform, prior registration with CONCEDUS GmbH (“CONCEDUS“) is required. A separate registration with CONCEDUS is not required for the first-time purchase of Fractional Ownership from New Horizon (so-called Drop). As part of the registration process, an appropriateness check (Angemessenheitsprüfung) and a money laundering check are carried out before trading in Fractional Ownership. The money laundering check includes in particular an identity check of the User. For this purpose, it is mandatory that the User can present an official and valid photo identification document (Lichtbildausweisdokument). The User will be informed of the details of the identity check during the registration process. The outcome of these checks may result in the User not being permitted to trade in Fractional Ownership. The outcome is at the discretion of CONCEDUS.
The brokerage of purchase agreements in trading is carried out by New Horizon as a contractually tied agent ( Vertraglich gebundener Vermittler) of CONCEDUS. In the context of the first-time purchase of Fractional Ownership from New Horizon (so-called Drop), New Horizon does not broker purchase agreements and is not acting as a contractually tied agent of CONCEDUS.
For the activation of trading in Fractional Ownership on the Platform, the User must conclude a separate agreement with CONCEDUS. With the successful registration, the User commissions New Horizon as operator of the Platform with the brokerage of the Fractional Ownership shares between the registered Users as a contractually tied agent of CONCEDUS. CONCEDUS exercises the function of the so-called liability umbrella (Haftungsdach), under whose liability New Horizon provides brokerage services.
Notice pursuant to Section 3 para. 2 WpIG regarding the trading of Fractional Ownership
New Horizon acts in the context of trading in Fractional Ownership as a tied agent within the meaning of Section 3 para. 2 WpIG and acts as investment broker pursuant to Section 2 para. 2 no. 3 WpIG exclusively for the account and under the liability of CONCEDUS.
The managing directors of CONCEDUS are Markus Gerstberger and Marcel Lacroze.
New Horizon has been notified to the German Federal Financial Supervisory Authority (“Bafin“) as a tied agent of CONCEDUS and is registered in the Bafin register of tied agents under register number 80174023.
The Bafin register of tied agents is available at: https://portal.mvp.bafin.de/database/VGVInfo/.
New Horizon’s brokerage activities are subject to a statutory recording and retention obligation, in particular pursuant to Section 83 of the German Securities Trading Act (Wertpapierhandelsgesetz, WpHG). Conversations and communications with Users in the course of the brokerage activity are recorded, and the Users agree to this. A copy of the records of these conversations and communications can be made available upon request of the Users for a period of five years and – if requested by Bafin – for a period of seven years.
As a tied agent, New Horizon is subject to the obligation to grant CONCEDUS access to its business records at any time, in accordance with the obligations and rights under supervisory law. Furthermore, Concedus has comprehensive authority to issue instructions in order to ensure management and control capabilities. As a contractually tied agent, New Horizon is obliged to tolerate audits and inspections of its business premises by Bafin as well as the internal audit department of CONCEDUS and to cooperate in these audits.
For its activities as a contractually tied agent, New Horizon has entered into a separate contractual agreement with CONCEDUS, according to which New Horizon acts as a vicarious agent (Erfüllungsgehilfe) of CONCEDUS for the brokerage of financial instruments (“Assumption of Liability“). According to this agreement, CONCEDUS is liable to the Users for all damages which arise due to a breach of duty by New Horizon, if and to the extent that any limitations of liability from these General Terms and Conditions (see Clause 8 below) or from the brokerage agreement or terms and conditions of CONCEDUS do not interfere with this.
Further activities of New Horizon, in particular the provision of the technical platform as well as technical, administrative or operational support services, which do not include the brokerage of Fractional Ownership or other financial instruments, are not in scope of the Assumption of Liability by CONCEDUS.
b. Purchase of and trading in Other Crypto-Assets
The purchase of and trading in Other Crypto-Assets is subject to MiCAR regulation. Users may purchase Other Crypto-Assets exclusively from the issuer (so-called “drop purchase”) and trade them with other Users on a user interface operated by CONCEDUS (“CONCEDUS User Interface“). The reception and transmission of orders for crypto-assets on behalf of clients pursuant to Art. 3(1)(16)(g) in conjunction with Art. 23 MiCAR is carried out exclusively by CONCEDUS on the CONCEDUS User Interface. New Horizon neither operates the CONCEDUS User Interface nor does New Horizon receive or transmit orders for crypto-assets.
Before Users can purchase Other Crypto-Assets from the issuer on the CONCEDUS User Interface and/or trade them with other Users, Users must register with CONCEDUS. As part of the registration process, a money laundering check is carried out. The money laundering check includes in particular an identity check of the User. For this purpose, it is mandatory that the User can present an official and valid photo identification document. The User will be informed of the details of the identity check during the registration process. The outcome of these checks may result in the User not being permitted to purchase or trade Other Crypto-Assets. The outcome is at the discretion of CONCEDUS.
Setting up your own wallet: Before being able to purchase Other Crypto-Assets via the CONCEDUS User Interface, the User is required to maintain as private wallet (“Private Wallet“). In the case of a self-hosted wallet, the User receives and retains sole control over the associated private keys or relevant access data. In the case of a custodian wallet, the third-party custodian has control over the private keys. Neither New Horizon nor CONCEDUS hold the User’s Other Crypto-Assets, have access to their private keys or provide custody and administration of crypto-assets on behalf of clients within the meaning of Art. 3(1)(16)(a) in conjunction with Art. 75 MiCAR. The setup of this Private Wallet is a prerequisite for the purchase of and trading in Other Crypto-Assets. The User is solely responsible for the secure storage of their private keys or access data (in particular any seed phrase); their loss may result in the irretrievable loss of access to the Other Crypto-Assets.
Further information on CONCEDUS and the crypto-asset services of CONCEDUS can be found in the documents provided separately by CONCEDUS.
c. Other services on the Platform
Users also have the option of purchasing collectibles as a whole. In addition, unregulated services of New Horizon may also be accessed via Timeless. The respective terms and conditions of New Horizon shall apply accordingly.
These General Terms and Conditions of the Platform (hereinafter “GTC“) shall apply to all contracts concluded with the
New Horizon GmbH
Neue Schönhauser Straße 2
10178 Berlin
Email: contact@Timeless.investments
Managing Director: Malte Häusler
entered in the Commercial Register of the Charlottenburg Local Court under
HRB 199884 B
VAT ID: DE320311786
regarding the use of the Platform (“Platform Usage Agreement“).
Deviating, conflicting or supplementary terms of a User shall only become part of the agreement if and to the extent that New Horizon has expressly agreed to their application.
For the use of the CONCEDUS User Interface, the terms and conditions of CONCEDUS shall apply exclusively.
The Timeless offer is only accessible to Users who have successfully registered on the Platform.
The use of the Platform is free of charge for Users and requires registration.
Users who are natural persons may only register if they are at least 18 years old and have unlimited legal capacity.
The prerequisite for use is that the User uses the Platform on their own account. The User may not act on behalf of another person.
Multiple registrations or a registration with incorrect data will not be accepted. Both may lead to exclusion from the Platform and the assertion of claims for compensation. For registration purposes, the User sends the data requested by Timeless during the registration process to New Horizon and selects a password. Following the transmission of this data, the User receives a confirmation email at the email address provided. By clicking on the link in the confirmation email, registration is completed, and a Platform usage agreement is concluded between the User and New Horizon. The User has no legal claim to registration. New Horizon may refuse registration at its own discretion without stating reasons. Registration via an already existing social media account (such as Facebook) is also possible. The User may not share their password with third parties and must keep it secret and protect it from unauthorised access by third parties. User accounts are not transferable.
It is forbidden to manipulate prices or offers by using several User accounts or in cooperation with other Users.
During the term of the usage agreement, the User is obliged to keep all their details up to date at all times and to notify New Horizon immediately of any changes to their data.
New Horizon is entitled to delete User accounts after a reasonable period of time in the event of incomplete registration or legitimation.
After registration and legitimization, the Platform allows the User to use the Platform and download the app free of charge. The app can be downloaded from Google Play and the Apple App Store.
a. Fractional Ownership under WpIG
Purchase of Fractional Ownership from the issuer
The presentation and advertising of collectibles in the app or on the website does not constitute a legally binding offer to conclude a purchase agreement.
The User can choose collectibles from the portfolio of Timeless and select them for purchase on the app via the “Buy fractions” button (or via a symbol image).
By clicking on the button “Buy fractions” the User is forwarded to the next step of the order process.
To complete the order process, the User must create a User account on the Platform. Within the User account or as part of the ordering process, the User must provide personal data, contact information and the billing address.
By clicking on the button “Buy fractions” or, if the payment method Google Pay is selected, (“Pay with GPay”) and if the payment method Apple Pay is selected (“Pay with Apple Pay”), the User submits a binding offer to purchase Fractional Ownership of the item in the shopping basket. Up to this point, the User can correct their entries at any time.
The User receives confirmation of receipt of their order by email. The acceptance of the User’s offer to conclude the framework agreement, which includes inter alia the purchase agreement for the Fractional Ownership, is transmitted by email. New Horizon saves the text of the contract if a framework agreement is concluded. This is transmitted to the User by email upon conclusion of the agreement.
Offering of Fractional Ownership in the context of trading
Offering of Fractional Ownership in the context of trading
To offer Fractional Ownership, the User selects the corresponding asset via the app. Via the button “Place offer”, the User selects the Fractional Ownership share in the Collectible and the unit price per Fractional Ownership share that they want to offer for sale to other Users via the app. In the next step, the User can check their offer and the underlying trading agreement for which the User is offering their Fractional Ownership share and confirm it bindingly via the “Confirm” button. After placing an offer, the User will be asked to provide their bank details, which will be used for the payment after a successful brokerage, so that the User receives the Fraction sale price. The User may only specify bank accounts for which they are the account holder or have a corresponding certified power of attorney. Payments are processed via a regulated payment service provider. Users who wish to sell Fractional Ownership must accept the terms and conditions of the relevant payment service provider for this purpose. After confirmation of the bank details and the acceptance of the general terms and conditions of the payment service provider, the selling User’s offer will be published. If an offer is not accepted by another User, the User can remove their offer. After acceptance of the offer by another User, the offer can no longer be removed. In this case, a binding purchase agreement is concluded for the offered Fractional Ownership shares. If a User is still reviewing the offer but has not yet accepted it, the offer cannot be removed, but there is not yet a binding purchase agreement. If a User accepts the offer and purchases the Fractional Ownership shares, the sale will be confirmed via the App and by email with reference to an order confirmation number. Users will receive the trading agreement on the app and by email.
Purchase of Fractional Ownership in the context of trading
To buy Fractional Ownership, the User selects the corresponding asset and then checks the corresponding offer that another User has posted for sale on Timeless. The User can select an offer by clicking the “Buy” button. In the next step, the User is shown a summary of the offer with the number of Fractional Ownership shares, the price per Fractional Ownership share, the total of the Fractional Ownership shares, the trading fee and the trading agreement. The “Next” button takes the User to the selection of the payment method, where they can choose between credit card payment, instant bank transfer, Giropay, Google Pay, and Apple Pay. Clicking on the “Save” button takes the User to the general overview, where the User can see the summary of the offer with an additional display of the payment method and their personal data. In this step, the User can agree to the trading agreement and bindingly purchase the selected Fractional Ownership shares by clicking on the “Buy” button. This concludes a binding purchase agreement. In the next step, the User receives a confirmation of the purchase via the app and by email with reference to an order confirmation number.
Limit Order
The Limit Order feature allows the User to create an offer for one or more Fractional Ownership shares to be submitted to a suitable seller (“Limit Order Offer“) by specifying, among other things, the price range, the type of Fractional Ownership share and the duration of the Limit Order Offer. After creating the Limit Order Offer and selecting the payment method, the User can check his details on a general overview. By clicking on the button “make a binding offer”, the User submits a binding offer. The confirmation of the successful creation of a Limit Order Offer will be confirmed to the User by email.
If the Limit Order Offer is transmitted to a User whose offer fully corresponds to the Limit Order Offer, a binding agreement is concluded between both Users. The conclusion of the agreement is confirmed to the Users by email.
When the Limit Order creator clicks on the “accept binding offer” button, a binding agreement is concluded between the two Users. The conclusion of the agreement shall be confirmed to the Users by e-mail.
b. Other Crypto-Assets
Purchase of Other Crypto-Assets from the issuer
The presentation and advertising of Other Crypto-Assets on the CONCEDUS User Interface does not constitute a legally binding offer to conclude a purchase agreement.
The User can choose from the portfolio of Other Crypto-Assets and select them for purchase on the CONCEDUS User Interface via the “Purchase Other Crypto-Assets” button (or via a symbol image).
By clicking on the button “Purchase Other Crypto-Assets”, the User is forwarded to the next step of the order process.
To complete the order process, the User must provide personal data, contact information and the billing address. It is also required that the User sets up a self-hosted wallet via the Platform or, if available, commissions a regulated crypto custodian cooperating with New Horizon to store the Other Crypto-Assets. The User is responsible for securing the private keys for self-hosted wallets. Neither CONCEDUS nor New Horizon have access to the Other Crypto-Assets including the associated private keys”) of the User.
By clicking on the button “Buy Other Crypto-Assets now” or, if the payment method Google Pay is selected (“Pay with GPay”) and if the payment method Apple Pay is selected (“Pay with Apple Pay”), the User submits a binding offer to purchase the Other Crypto-Assets in the shopping basket. Up to this point, the User can correct their entries at any time.
The User receives confirmation of receipt of their order by email. The acceptance of the Seller’s offer to conclude the framework agreement, which includes inter alia the purchase agreement for the Other Crypto-Assets, is transmitted by email. New Horizon saves the text of the contract if a framework agreement is concluded. This is transmitted to the User by email upon conclusion of the agreement.
Offering of Other Crypto-Assets in the context of trading
To offer Other Crypto-Assets on the CONCEDUS User Interface, the User selects the corresponding asset via the app. Via the button “Place offer”, the User selects the number of Other Crypto-Assets and the unit price per Other Crypto-Asset that they would like to offer for purchase on the CONCEDUS User Interface. In the next step, the User can check their offer and the underlying trading agreement for which the User is offering their Other Crypto-Assets and confirm it bindingly via the “Confirm” button. After placing an offer, the User will be asked to provide their bank details, which will be used for the payment after a successful brokerage, so that the User receives their sale price. The User may only specify bank accounts for which they are the account holder or have a corresponding certified power of attorney. Payments are processed via a regulated payment service provider. Users who wish to sell Other Crypto-Assets must accept the terms and conditions of the relevant payment service provider for this purpose. After confirmation of the bank details and the acceptance of the general terms and conditions of the payment service provider, the selling User’s offer will be published. If an offer is not accepted by another User, the User can remove their offer. After acceptance of the offer by another User, the offer can no longer be removed. In this case, a binding purchase agreement is concluded for the offered Other Crypto-Assets. If a User is still reviewing the offer but has not yet accepted it, the offer cannot be removed, but there is not yet a binding purchase agreement. If a User accepts the offer and purchases the Other Crypto-Assets, the sale will be confirmed via the CONCEDUS User Interface and by email with reference to an order confirmation number. Users will receive the trading agreement on the app and by email.
Purchase of Other Crypto-Assets in the context of trading
To buy Other Crypto-Assets, the User selects the corresponding asset on the CONCEDUS User Interface and then checks the corresponding offer that another User has posted for sale on the CONCEDUS User Interface. The User can select an offer by clicking the “Buy” button. In the next step, the User is shown a summary of the offer with the number of Other Crypto-Assets, the price per Other Crypto-Asset, the total of the Other Crypto-Assets, the trading fee and the trading agreement. The “Next” button takes the User to the selection of the payment method, where they can choose between credit card payment, instant bank transfer, Giropay, Google Pay, and Apple Pay. It is also required that the User sets up a self-hosted wallet via the Platform or, if available, commissions a crypto custodian cooperating with New Horizon to store the assets. The User is responsible for securing the private keys for self-hosted wallets. Neither CONCEDUS nor New Horizon have access to the Other Crypto-Assets including the associated private keys of the User. Clicking on the “Save” button takes the User to the general overview, where the User can see the summary of the offer with an additional display of the payment method and their personal data. In this step, the User can agree to the trading agreement and bindingly purchase the selected Other Crypto-Assets by clicking on the “Buy” button. This concludes a binding purchase agreement. In the next step, the User receives a confirmation of the purchase via the user interface and by email with reference to an order confirmation number.
New Horizon may take the following actions if there is specific evidence that a User is violating the law, the GTC or the rights of third parties, or to protect Users, CONCEDUS or New Horizon itself from fraudulent activity:
When selecting a measure, New Horizon will take into account the legitimate interests of the User concerned, in particular whether there are indications that the User is not responsible for the breach.
New Horizon may permanently exclude a User from using the Platform (permanent exclusion), in particular if
The claim of Users to use the Platform exists only within the scope of the current state of technology. New Horizon temporarily restricts its services if this is necessary regarding capacity limits, the security or integrity of the servers or for the implementation of technical measures and this serves the proper or improved provision of the services (maintenance work). In such cases, New Horizon shall take into account the legitimate interests of the Users, e.g. by providing advance information. Clause 8 of these GTC (Liability) remains unaffected by the above provision.
If an unforeseen system failure impairs the use of the Platform, the Users will be informed in an appropriate manner.
New Horizon’s liability for damages shall be subject to the following exclusions and limitations of liability, without prejudice to the other statutory requirements for claims.
New Horizon shall have unlimited liability insofar as the cause of the damage is based on intent or gross negligence.
Furthermore, New Horizon is liable for the slightly negligent breach of essential obligations, the breach of which endangers the achievement of the purpose of the agreement, or for the breach of obligations, the fulfilment of which enables the proper performance of the agreement in the first place and on the compliance with which the User regularly relies. In this case, however, New Horizon is liable only for the foreseeable damage typical for the contract. New Horizon is not liable for the slightly negligent breach of obligations other than those mentioned in the preceding sentences.
The above limitations of liability shall not apply in the event of injury to life, limb or health, for a defect following the assumption of a quality guarantee (Beschaffenheitsgarantie) and in the event of fraudulently concealed defects. Liability under the German Product Liability Act remains unaffected.
To the extent that New Horizon’s liability is excluded or limited, this shall also apply to the personal liability of employees, representatives and vicarious agents.
The Platform Usage Agreement has an indefinite term and may be terminated by either party with one (1) month notice at the end of the month. The right to terminate for good cause remains unaffected. If a good cause entitling New Horizon to extraordinary termination shall exist, in particular if New Horizon is entitled to permanent exclusion. The termination must be in writing.
Framework agreements and trading agreements concluded via the Platform remain unaffected by the termination.
New Horizon may propose changes to these GTCs to the User at any time.
Proposed changes to these GTCs that affect payment clauses, fee regulations, and main services shall only become effective with the express consent of the User. New Horizon shall also specifically inform the User of the requirement for express consent in the message in which the changes are proposed. The amended GTCs shall also be displayed in the app.
The contractual relationship with New Horizon is not transferable to any other person or company without New Horizon’s consent. New Horizon will not unreasonably withhold consent.
The law of the Federal Republic of Germany shall apply to the exclusion of the UN Convention on Contracts for the International Sale of Goods and, in particular, to the exclusion of the Swedish Co-ownership Act of 1904 (Sw. lag (1904:48 s. 1) om samäganderätt), as long as this does not conflict with any mandatory statutory provisions. Consumers may at any time invoke more favourable provisions of their home law.
The contractual language is German and English. The German version of the GTC shall be decisive for the interpretation.
If any provision of these GTC is or becomes invalid, unenforceable in whole or in part, the validity, enforceability and enforceability of the remaining provisions of these GTC shall not be affected thereby. The invalid, illegal, unenforceable and/or unenforceable provision shall be deemed to be replaced by such valid, legal and enforceable provision as corresponds as far as possible to the spirit and economic purpose of these GTC and the original intention of the parties.
