TIME Magazine Is Getting into Bitcoin and Crypto NFTs

March 26, 2021, by Cris
American news magazine TIME has revealed that it is entering crypto with two big moves: blockchain NFT tokens and crypto subscription payments.
Time Magazine Bitcoin

TIME Creates Line of NFTs

On Mar. 22, TIME announced that it will auction non-fungible tokens (NFTs) based on one of its most famous covers: “Is God Dead?” from April 8, 1966.

There are three variants up for auction. The first variant is the “Is God Dead?” cover itself. The second variant is “Is Truth Dead?”, which was published at the beginning of Donald Trump’s presidency in April 2017.

Photo credit: Time.com

The final cover is “Is Fiat Dead?”, which acknowledges cryptocurrencies like Bitcoin that are designed to challenge traditional monetary systems.

The covers are being auctioned by the Ethereum firm SuperRare. As of Mar. 23, the covers have attracted $15,000 to $45,000 worth of bids in Ethereum.

As NFTs, each cover is a one-of-a-kind digital collectible that can be freely resold and traded. Each cover is additionally available as a standard print, with no connection to NFTs, cryptocurrency, or blockchain.

TIME Will Accept Crypto Payments

TIME magazine also plans to accept cryptocurrencies as payment for digital subscriptions as part of its “digital transformation”, according to a statement from company president Keith A. Grossman on Twitter.

Coinciding with this news, TIME has also published a job posting that details its requirements for a new Chief Financial Officer (CFO). Among other requirements in the listing, TIME says that it wants candidates to be “comfort[able] with Bitcoin and cryptocurrencies.”

The job posting does not indicate how TIME plans to use Bitcoin in the future. Nevertheless, the news strongly suggests that more cryptocurrency-related announcements from TIME are on the way.

Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.