Time Shards are the main collectibles of Infinity Time and Cats vs. Dinos. They are dropped by vanquished Gnomes and enemy Infinite Robots. The player collects them by walking near them, because they will be drawn to nearby players. At the end of Infinite, they are traded in for unlocking different Chests that contain Infinite and Scrumptious customizations and legendary Party characters. These are the only way to heal the player in Infinity Time. The small Time Shards are dropped by most enemies and restore 50 health. The big Time Shards are dropped by bosses such as the Giga Gnome and restore 200 health.
Never collect them in one go after you destroy a Gnome. You will need them if you are being attacked by multiple enemies since they heal you. You won't need to collect them since they do not despawn and they auto-collect after defeating a Gnome King.