Time Magazine will begin 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, the makers of the Bored Ape Yacht Club ApeCoin debuted to boost transactions within ApeDAO.
Last year, the magazine began accepting subscription payments in Bitcoin and other cryptocurrencies, including Dogecoin, XRP, and Ethereum after launching a new Web3 community initiative for TIME called “TIMEpieces.”
At the time, Keith Grossman, president of TIME, said the publication was intended to provide consumers with “a frictionless, easy-to-use NFT approach to buying collectibles, subscriptions, and ‘unique access’ to TIME’s content.”
“Our job is to ensure that our consumers have access to our world-class content, regardless of the medium, be it print, digital or video, and regardless of how they choose to pay for it, be it cash, credit or crypto. is. Grossman was quoted as saying.
The publication focused on covering developments in the crypto ecosystem, including NFTs, De-Fi and the Metaverse, has made its way into the blockchain sector following the auction of its first NFT on SuperRare, the famously risqué publication featuring the title “Is Fiat Dead” in March 2021.
In the recent past, the publication has focused on NFTs in particular, launching an initiative called “Project C”, which is led by notable characters such as Anthony Pompliano, Mark Cuban and Guy Oseary to oversee its evolution. of NFTs. This may also explain the choice of APE as a payment option, as Yuga Labs appears to be 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 its cover, marking one of the most significant steps in the blockchain industry to date.
With the explosion of the crypto ecosystem, global brands and especially publications have introduced various sectors including NFTs, Metaverse or buying cryptocurrencies at an unprecedented pace as they count on huge long term opportunities. Forbes also recently launched a dedicated “crypto & blockchain” coverage sector, while others like Associated Press (AP) launched an NFT photography marketplace earlier this year.