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NFT

TIME releases an entire magazine issue as an NFT which features Vitalik Buterin on cover

19 Mar 2022 : 07:11
2 min read
  • Time Magazine has confirmed the release of first-ever magazine issue as NFT
  • The NFT will be distributed to the genesis LIT community wallet holders and select TIMEPiece holders
  • The magazine issue will feature Vitalik Buterin on the cover page

The TIME Magazine is not a stranger to cryptocurrencies or NFTs as they also had released a collection in 2021 called TIMEpieces which caused congestion in the Ethereum network. It is important to note that the Magazine has announced a new NFT which is the first-ever full magazine issue presented in a tokenized manner. 

TIME Magazine’s NFT features Vitalik Buterin

As per the announcement from TIME, on the cover of the magazine issue will be Vitalik Buterin, the co-founder of Ethereum Network and the person who is known for making it big in the blockchain industry. Moreover, Keith A. Grossman, the President of the Magazine said in his statement:

As TIME continues to push the boundaries as to what is possible within the web3 ecosystem, producing the first-ever full magazine on the blockchain seemed like a natural extension for our brand, and we knew this issue, in particular, would be cherished by our community.

The NFT will feature a magazine issue with the words “The Prince of Crypto Has Concerns” and “Ethereum Creator Vitalik Buterin Fights To Fix The World He Created.”

Distribution

The NFT will be distributed to the genesis LIT community wallet holders and select TIMEPiece holders. This is because TIME has created this NFT magazine issue with the help of LITDAO. Moreover, the announcement also added that “the issue will be hosted through a decentralized protocol that — similar to LITDAO’s inaugural NFT — will allow holders to read the magazine in its entirety as an interactive NFT.”

New hire

TIME has also hired its first-ever VP of web3 Operations Will Ban, who will be jumping on the team from Artsy, an online art brokerage that develops and hosts websites for numerous galleries, and will strive to make the efforts of the Magazine, a success in the blockchain industry. The Magazine confirmed that until now, the Web 3.0 initiative from the firm has generated more than $10 million in revenue and created a team of 25,000 artists, collectors, and NFT enthusiasts.


About Author

Parth

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A writer, an author, a freelancer with writings in over 50+ niches, an editor, a proofreader, a music enthusiast, a YouTuber, a podcaster, and someone, who puts consistent efforts each day to make sure his creativity is noticed. What's more? He loves cryptocurrencies.

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