TIME Magazine, one of the most circulated bi-weekly magazines in the US, is exploring the cryptocurrency sphere and its integration into blockchain technology. The magazine recently announced it is going to start accepting payments in cryptocurrencies. The magazine entered into a partnership with the digital asset exchange Crypto.com which now allows readers of the magazine to pay for subscriptions through digital assets.
The current bull run made it evident that cryptocurrencies are not mere speculative investments and blockchain technology holds a lot of potentials. This has led to various firms jumping in to explore the real-world use cases of blockchain technology while others have begun adopting cryptocurrencies.
TIME magazine recently sold three magazine covers as NFTs. However, For TIME magazine, the journey does not end over here. The magazine is extensively exploring non-fungible tokens and projects based around them. In an interview with Decrypt podcast, TIME magazine president Keith Grossman commented on the NFT sale that this is just the beginning of the journey.
Grossman stated that the magazine may soon shift from the NFT collectibles to NFTs for subscriptions and memberships. While other news outlets like The New York Times have also entered the NFT collectibles space, TIME is the first magazine to accept payments in cryptocurrencies and may soon integrate the NFT technology completely.