TIME Magazine to Receive Cryptocurrency Payments for Digital Subscriptions
TIME Magazine has doubled down on its cryptocurrency endeavors by enabling bitcoin and other assets to be used as a form of payment for digital subscriptions. The innovation comes a few weeks after the New York City-based magazine partnered with Grayscale to produce educational crypto videos and be paid in BTC.
TIME Readers to Purchase Subscriptions With Crypto
With the first issue released nearly 100 years ago, TIME Magazine is among the largest and oldest news magazines and websites in the US. The company announced earlier today its second cryptocurrency-related partnership in a week.
By collaborating with the popular digital asset exchange CryptoCom, TIME will begin accepting crypto assets as instruments of payments for its digital subscriptions.
Readers who choose this option will “receive unlimited access to content across Time.com for 18 months with their one-time purchase, as well as subscribed-only events and offerings.”
Initially, only subscribers based in the US and Canada will be able to pay with cryptocurrencies, but the two parties plan to expand it to other countries by the end of the year.
As part of the partnership, users selecting to pay with CryptoCom’s native digital asset – CRO – will receive Pay Rewards of up to 10% back.
Following the announcement, a spokesperson from CryptoCom told CryptoPotato that the company is “always looking for new and innovative partnerships that advance our mission of accelerating the world’s transition to cryptocurrency.”
TIME to Hold Bitcoin
Shortly before the aforementioned developments, TIME collaborated with the largest digital asset manager – Grayscale – to produce a new educational video series about cryptocurrencies.
What’s perhaps even more notable is the payment method. Upon making the announcement, Grayscale’s CEO Michael Sonnenshein informed that TIME and its CEO – Keith Grossman – have agreed to be paid in bitcoin.
Moreover, TIME will hold the received BTC on its balance sheet, thus joining the likes of MicroStrategy, Tesla, and many more.
— Michael Sonnenshein (@Sonnenshein) April 12, 2021