Cryptocurrencies have been gaining adoption over the past year, and the numbers only seem to be increasing. For instance, Time Magazine has announced that it would start accepting cryptocurrencies as payment for its digital subscription.
Time partners with Crypto.com to adopt cryptocurrencies
Century-old magazine Time has announced its partnership with Crypto.com. The partnership would allow Time magazine to accept cryptocurrencies as payment for its digital subscription.
Time announced earlier today that the service would initially be available to subscribers in the United States and Canada. “Today, TIME will begin accepting cryptocurrency as a form of payment for digital subscriptions through a new partnership with Crypto.com,” the company wrote.
Accordingly, subscribers who decide to pay with cryptocurrencies will make a one-time purchase and gain 18 months of unlimited access to content across Time.com. They will also enjoy subscriber-only events and offerings.
Furthermore, Crypto.com wants to encourage people to use CRO, the Crypto.com coin, for payment by offering pay rewards of up to 10% to its subscribers. In fact, TIME President Keith Grossman commented that “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.”
Kris Marszalek, co-founder and CEO of Crypto.com, is happy his firm has partnered with TIME as it helps them achieve their mission of accelerating the world’s transition to cryptocurrency.
Time Magazine is expanding its cryptocurrency presence
The publication house has been expanding its presence in the cryptocurrency space over the past few months. In March, the magazine offered an exclusive series of three of its most iconic TIME covers as non-fungible tokens at auction, raising a substantial amount of money in the process.
Meanwhile, last week, TIME partnered with Grayscale Investments to create a new educational cryptocurrency video series. Per the agreement, TIME will be paid in Bitcoin and intends to hold the cryptocurrency in its balance sheet.
TIME Chief Technology Officer Bharat Krish highlighted that the company is always ready to adopt innovations. “We are thrilled to offer cryptocurrency as a payment option for our digital subscribers for the first time. TIME’s rapid digital transformation on behalf of our community is the result of our commitment to embracing new technologies and working closely with innovative companies like Crypto.com to bring our ideas to fruition,” he concluded.