TIME magazine announced that it will start receiving payments in cryptocurrency as part of its agreement with Crypto.com. The subscription fee of TIME Magazine can be paid in cryptocurrency as of July 2021.
According to TIME magazine’s announcement on Monday, TIME magazine’s 18-month subscription package can be purchased with cryptocurrencies such as Bitcoin. The service, which will be limited to the USA and Canada only in the first phase, is expected to expand globally within a few months after July.
TIME adapts to cryptocurrencies
TIME magazine, first published in 1923, has more than 2 million subscribers. Keith Grossman, President of TIME magazine, said he was “proud to be offering this new payment option to subscribers”. In addition to Bitcoin, 16 more cryptocurrencies can be used in subscription transactions.
Last month, TIME turned 3 magazine covers with popular titles such as “Is God Dead” and “Is Fiat Dead” into non-fungible tokens (NFT).
Grayscale CEO Michael Sonnenshein announced last week that they agreed with TIME magazine to produce an educational video series about cryptocurrencies. It was stated that TIME agreed to receive payments with Bitcoin in return and to keep Bitcoin in its balance sheet.