Time Magazine, a world-renowned media outlet, will begin accepting ApeCoin, the native token of Bored Ape Yact Club, one of the popular NFT projects. The world-famous magazine, a media giant, took an important step in the adoption of cryptocurrencies by announcing that it accepts a number of cryptocurrencies, especially DOGE and BTC, last year.
Time subscribers will be able to pay with DOGE and ApeCoin
Millions of Time Magazine subscribers will be able to pay with the hugely popular ApeCoin in the near future. Time Magazine has announced that it will begin accepting ApeCoin, the Ethereum-based token issued by the creators of the Bored Ape Yacht Club’s immutable token collection, in the coming weeks, according to an announcement posted on Twitter. The iconic publication initially made it possible to pay for digital subscriptions with Bitcoin and other cryptocurrencies including XRP, Ether and Dogecoin last April.
A year ago, as Somanews announced, Time Magazine auctioned off some of its most catchy covers as non-exchangeable tokens. It also agreed to keep Bitcoin on its balance sheet after partnering with Grayscale, a subsidiary of Digital Currency Group. In December, Time Magazine named Dogecoin advocate Elon Musk its Person of the Year.
Vitaik Buterin was on the cover of Time this week
Earlier this week, the 98-year-old publication released its first issue as NFT. Ethereum co-founder Vitalik Buterin graced its cover. In a wide-ranging interview, the programmer outlines his main concerns with the crypto industry and claims that it could escalate into a dystopia driven by treacherous, overzealous actors. The much talked about cryptocurrency, ApeCoin, was airdropped to Bored Ape Yacht Club owners on Thursday. It also started trading on major cryptocurrency exchanges such as Binance and Coinbase. The token spiraled out of control in the first hours of trading: after jumping to $39.40, it dropped to $8.90.
Cryptocurrency remains highly volatile. It has dropped 25.23 percent in the last 24 hours and is currently trading at $10.42, according to data provided by CoinMarketCap. The Ethereum-based token is currently valued at $2.9 billion, making it the 46th largest cryptocurrency by market capitalization.