TIME magazine doubled its efforts with cryptocurrencies, allowing bitcoin and other assets to be used as a form of payment for digital subscriptions. The innovation comes shortly after the New York-based magazine partnered with Grayscale to produce educational videos in NFT and to be paid for in BTC. With the first edition launched almost 100 years ago, TIME Magazine is among the largest and oldest United States news magazines and websites. The company today announced its second cryptocurrency-related partnership in a week. By collaborating with the popular crypto exchange Crypto.com, TIME will begin accepting cryptocurrencies as a form of payment for its digital subscriptions. Readers who choose this option “will receive unlimited access to Time.com content for 18 months with your one-time purchase, as well as events and offers only for subscribers. ”
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Initially, only subscribers from the United States and Canada will be able to pay with cryptocurrencies, but there are plans to expand to other countries by the end of the year. As part of the partnership, users who choose to pay with Crypto.com's native asset – CRO – will receive a cashback of up to 10% .After the announcement, a spokesman for Crypto.com said the company is “always looking for new and innovative partnerships that advance our mission to accelerate the world's transition to cryptocurrencies”.
Days earlier, TIME collaborated with Grayscale, the world's largest crypto asset manager, to produce a new series of educational videos on cryptocurrencies. By making the announcement, Grayscale CEO Michael Sonnenshein said that TIME and its CEO Keith Grossman agreed to be paid in bitcoin. In addition, TIME will keep the BTC received on its balance sheet, joining companies such as MicroStrategy, Tesla and others.Read more: Gold has an advantage over Bitcoin, says analyst Max Keizer