The benefit of cryptocurrency being more publicly visible than ever before is that there are more companies that are hopping on the train and embracing cryptocurrency. This includes companies like Tesla that now accepts Bitcoin as a form of payment and various investment firms adding cryptocurrency to their portfolios.
The latest of these comes from the Iconic TIME Magazine that announced on April 19, 2021, that it now accepts cryptocurrency as a form of payment. This was announced via an official statement on their website.
Time Magazine and Crypto
As part of this new development, TIME Magazine subscribers can pay for their digital subscriptions using cryptocurrency. This is thanks to a new partnership between TIME Magazine and Crypto.com. Should customers opt for a one-time purchase, they will have unlimited access to TIME archives and will also be able to enjoy subscriber-only events.
For now, this option is only available to customers in the United States and in Canada but there are plans to expand this to the rest of the world in the coming months. There is also a financial benefit for customers who choose to pay using Crypto.com as the site is offering up to 10% cashback for those who use CRO, which is the official cryptocurrency of Crypto.com.
Steps like this go a long way in normalizing the utilization of cryptocurrencies among the masses and according to TIME’S President Keith Grossman, this is in a bid to keep up with TIME Magazine’s commitment to innovation.
“As TIME continues to innovate and find new ways to build upon our existing community of 2.3 million subscribers, we are proud to offer this new payment option through our partnership with Crypto.com,” he said.
TIME Chief Technology Officer Bharat Krish also said the company is always looking to embrace new technology and work with innovative companies and that TIME is thrilled to finally be able to offer cryptocurrency as a payment option.
This was a sentiment echoed by Kris Marszalek, the co-founder, and CEO of Crypto.com, who said that the company feels fortunate to be able to partner with TIME and that this aids its goal of accelerating the transition to cryptocurrency across the world.
This is not the first time that the magazine has done work relating to digital assets. In March 2021, 3 TIME covers were available as non-fungible tokens at auction, one of which was designed exclusively as an NFT.