Time Magazine, published since 1923, will now accept payments for digital subscriptions in cryptocurrency through its new partnership with Crypto.com.
- Readers who pay for their subscriptions using cryptocurrency will receive unlimited access to Time.com for 18 months, including special events and offerings for subscribers.
- Cryptocurrency is currently a payment option for subscribers only in the U.S. and Canada, but Time is planning an international expansion of the option in the coming months.
- Subscribers who pay using CRO, Crypto.org’s coin, will get Pay Rewards of up to 10% back from Crypto.com.
- Time is also partnering with digital currency asset manager Grayscale Investments to produce a video series on cryptocurrency, through which the media company will be paid in bitcoin and hold it on its balance sheet, Grayscale CEO Michael Sonnenshein tweeted last week. (Grayscale is a CoinDesk sister company.)
- In March, the magazine released three non-fungible token (NFT) covers inspired by its April 8, 1966, “Is God Dead?” cover for auction on the crypto marketplace SuperRare.
- The New York Times is among the other media organizations that have tapped into the explosion of public interest in NFTs. In late March, an NFT of a Times column sold for 350 ether, or more than $500,000, in a first for the 169-year-old newspaper.