TIME magazine is ready to churn out some crypto-related content. The critically acclaimed magazine will start a video series to educate the masses on crypto.
TIME magazine has partnered with a leading crypto company, Grayscale, to produce an educational video on crypto. The magazine will receive bitcoin as a payment for their services.
The CEO of Grayscale, Michael Sonneshein, revealed the news of the partnership on Twitter.
Thrilled @Grayscale is partnering w/ @TIME on a new video series coming this summer explaining the #crypto space.
Equally as important, @KeithGrossman & @TIME has agreed to be paid in #Bitcoin – and will hold the $BTC on their balance sheet. A first for our media partnerships!
— Michael Sonnenshein (@Sonnenshein) April 12, 2021
The magazine will not cash out bitcoin for fiat. Digital assets will just sit there on the balance sheet.
It’s Crypto TIME
TIME magazine is a famous New York-based magazine that has both physical and online publication. It was first published on March 3rd, 1923. The crypto world has started showing interest in TIME after the magazine publicized a post for a crypto-friendly Chief Financial Officer.
TIME has also cashed in on the NFT craze. It sold a few NFT covers on SuperRare. A cover from January 19th, 1959 was purchased at $250,000.
By holding Bitcoin in its balance sheet, TIME will become the 33rd publicly traded company having BTC. Some other corporate companies dealing in bitcoin are MicroStrategy and Tesla.
Crypto’s recent mainstreaming drive started in late 2020. Many US-based companies started exploring the cryptocurrency space after seeing the surge in Bitcoin’s value followed by altcoin. Moreover, the defi sector is promising for revolution in business practices. Financial service providers are also dabbling with the idea of providing digital asset-related services. Some big names in this area include VISA, MasterCard, and PayPal.
There is a famous saying, “If you cannot beat them, join them.” The corporate sector is doing just that when it comes to crypto.