Under agreement with Galaxy Digital, TIME magazine decided to hold Ethereum
Galaxy Digital's entertainment division Galaxy Interactive entered into a content sponsorship agreement with the magazine. Within its framework, the magazine will present a new version of the category "TIME100 Companies", telling about the world's top companies and entrepreneurs in the space of the metaverse.
This collaboration was funded by ETH and the magazine with a 98-year history agreed to accept as payment and keep ETH on its balance sheet., which made it the first major media organization, who has made such a step.
Moreover, Galaxy-TIME partnership includes TIME's new weekly newsletter, "Into the Metaverse",, as well as educational materials, designed to educate readers on this topic. Galaxy Digital said, that will use his experience to help the magazine in illuminating the rapidly evolving space of the metaverse.
In April 2021 TIME has partnered with Crypto.com to use cryptocurrency as a form of payment for digital subscriptions.. but, then the magazine did not hold ETH, and just used it as a payment method. A month earlier, he put up for auction three magazine covers in the form of NFT on the popular site SuperRare.
"We are pleased to cooperate with TIME, which is a cult brand, promoting innovation. Our goal — attract readers, authors and just curious in the metaverse and tell, what and how it works", – said the CEO and founder of Galaxy Digital Mike Novogratz