Time Magazine will start accepting payments for digital subscriptions in Apecoin(APE) in the coming weeks.
This is according to an announcement by the New York-based news magazine on Sunday, three days after Yuga Labs, creators of the Bored Ape Yacht Club debuted ApeCoin to fuel transactions within ApeDAO.
Last year, the magazine started accepting subscription payments in Bitcoin and other cryptocurrencies including Dogecoin, XRP, and Ethereum after launching a new Web3 community initiative for TIME dubbed ‘TIMEpieces’.
At the time, Keith Grossman, TIME president stated that the publication aimed at providing consumers with a ‘frictionless, user-friendly NFT approach to purchase collectibles, subscriptions, and “unique access” to TIME’s content.’
“Our job is to make sure that our consumers access our world-class content regardless of medium, whether it’s print, or digital, or video, and regardless of how they wish to pay for it, whether it is in cash or credit or crypto,” Grossman was quoted stating.
The publication which aims at covering developments in the crypto- ecosystem including NFTs, De-Fi, and the Metaverse has been making inroads in the blockchain sector after auctioning its first NFT on SuperRare, the famous bold titled “Is Fiat Dead” publication in March 2021.
In the recent past, the publication has particularly been paying more attention to NFTs, launching an initiative dubbed “Project C” which is being spearheaded by notable characters such as Anthony Pompliano, Mark Cuban, and Guy Oseary to oversee the evolution of NFTs. This also perhaps explains its choice of APE as a payment option given that Yuga Labs seems like it’s the leading voice of NFTs in the world.
Last week, Time Magazine also launched its first-ever digital NFT magazine titled ‘The Prince of Crypto Has Concerns‘, with Vitalik Buterin as the cover, marking one of the most important steps into the blockchain sector yet.
With the explosion of the crypto-ecosystem, global brands and notably, publications have been onboarding various sectors including NFTs, Metaverse or purchasing cryptocurrencies at an unprecedented rate as they count on massive opportunities in the long term. Forbes has also recently launched a special coverage sector for ‘crypto & blockchain’ with others such as Associated Press (AP) launching an NFT photography marketplace earlier this year.