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Time Magazine will hold ETH as part of Galaxy Digital partnership to support metaverse newsletter

November 18, 2021 Coin Telegraph

Business

Mike Novogratz said the partnership was part of a move to “bring readers, creators, and the curious into the metaverse.”

Time Magazine, the media company that has been an American institution for almost a century, is partnering with Mike Novogratz's Galaxy Digital in an effort for its readers to explore the metaverse.

In a Thursday announcement, Time said the partnership with the investment management firm was aimed at educating its readers about the metaverse. The long-running magazine will be releasing a weekly newsletter on the metaverse, hosting educational resources on its website, and including the virtual space as a category in its annual list of the 100 most influential people in the world.

Novogratz said the partnership was part of a move to “bring readers, creators, and the curious into the metaverse and demystify the tremendous amount of transformation happening within.” Galaxy Digital is already seemingly focusing on expanding into the metaverse, having raised $325 million in an October fundraising round aimed at virtual endeavors.

Excited @GalaxyDigitalHQ & @TIME will launch the first-ever #metaverse cat. w/i TIME100 Companies. Also launching a wkly metaverse newsletter bringing readers, creators & the curious into the space.

TY @keithgrossman for agreeing to be paid in $ETH! pic.twitter.com/MdPupSUeo0
— Mike Novogratz (@novogratz) November 18, 2021

In addition, Time said the partnership with Galaxy Digital was conducted using Ether (ETH), which the media firm plans to hold on its balance sheet — the magazine has been holding Bitcoin (BTC) since April as part of a partnership with Grayscale. Time also previously announced it would be allowing readers to pay for digital subscriptions using cryptocurrency, and has also been delving into nonfungible tokens with the auction of three tokenized magazine covers.

Since Facebook announced in October it would be rebranding to Meta and focusing on expanding into the metaverse, the space has drawn significant attention from media outlets. Crypto firms and other companies including KuCoin have already purchased virtual space in the decentralized metaverse Bloktopia.

“Our first objective is to create a shared lexicon and understanding of the idea and the opportunities that are emerging as we become an increasingly digital species and continue (and accelerate) our ongoing journey from the physical to the virtual world,” said Galaxy Interactive managing partner Sam Englebard.

Vitalik Buterin makes list of Time magazine’s 100 most influential people in 2021

September 15, 2021 Coin Telegraph

Business

Prince Harry, singer-songwriter Billie Eilish, Olympian Simone Biles, and the Ethereum co-founder all made the cut.

Time magazine has named Ethereum co-founder Vitalik Buterin one of the most influential people this year across those in entertainment, world leaders, activists, and others.

Appearing in the list of Time’s innovators for 2021, Buterin is named alongside Nvidia CEO Jensen Huang, Tesla CEO and Dogecoin (DOGE) proponent Elon Musk, and others. In his profile on the Ethereum co-founder, Reddit co-founder Alexis Ohanian cited Buterin’s role in building the Ethereum network to a market capitalization of more than $400 billion, and encouraging the development of decentralized apps and non-fungible tokens, or NFTs.

“No one person could’ve possibly come up with all of the uses for Ethereum, but it did take one person’s idea to get it started,” said Ohanian. “From there, a new world has opened up, and given rise to new ways of leveraging blockchain technology.”

The long-running magazine has seemingly become more open to both reporting on the crypto space and accepting it in its own business. In March, Time said it would be seeking a chief financial officer who has "comfort with Bitcoin and cryptocurrencies" and auctioned three NFTs inspired by some of its magazine covers.

The following month, the magazine further integrated cryptocurrencies into its business by announcing it would accept crypto payments for digital subscriptions. In addition, as part of a partnership with fund manager Grayscale, Time said it would be holding Bitcoin (BTC) — received as payment for an educational video series — on its balance sheets.

“Time isn’t even in the first inning of what we want to do with crypto,” president Keith Grossman said in a Sept. 13 interview.

First published in 1923, the magazine has been an institution in the United States, profiling influential figures and companies. Time reports it has 20 million weekly subscribers across the world.

TIME Partners With Cool Cats NFT Project, Business Magazine Fortune’s NFT Sale Raises $1.3M

August 15, 2021 Bitcoin.com

CNN selling historic news ‘moments’ as NFTs

June 17, 2021 Coin Telegraph

CNN

CNN will drop NFTs depicting historic moments such as space travel, technological advancements, and presidential elections.

CNN has followed Fox and Time Magazine into the NFT market, announcing the launch of collectible historic moments from the news.

CNN’s NFT project is dubbed “Vault by CNN: Moments That Changed Us” and includes a series of tokenized iconic moments from its 41-year history, along with a vault to purchase, store and display the NFTs.

The news organization has not revealed which specific historic moments will be tokenized, however, it noted that themes including CNN exclusives, notable firsts, world history, and presidential elections, will be covered.

The initial launch will include six weekly drops starting from late June, with CNN teasing the first drops may depict space travel and election results. The NFTs will be sold in a combination of open and limited editions.

The NFTs will be minted on the Flow blockchain, which CNN chose for its energy-efficient proof-of-stake consensus mechanism. Flow is also home to NBA Top Shot, which has had huge success selling iconic sporting ‘moments’.

To purchase NFTs, users will need to sign up to CNN’s vault, where they will store their moments. Cryptocurrency is not be required to purchase, with the platform accepting credit cards via third-party payment platform Stripe. The vault’s description reads:

“Until now, there has been no way to 'collect' these moments. Users can often find old footage online, or packaged up in documentaries, but they cannot 'own' them or display them in the way they can with a print newspaper or magazine.”

CNN has also partnered with video framing firm Infinite Objects so that users will have the option of rendering their NFT onto a screen and displaying it physically offline. The vault’s description reads.

Interestingly CNN’s online archive already boasts 700,000 hours of news content that can already be purchased and downloaded without conferring 'ownership'.

Despite putting forward ownership as a value proposition of the NFTs, they note that “CNN retains copyright and ownership over the content.”

A growing number of news outlets and media organizations have entered the NFT market in 2021.

CNN’s move into NFTs follows Fox Corp’s announcement of a $100 million creative fund for NFT content creation yesterday to accompany its animated tv shows.

In late March, Time Magazine entered the market with three tokenized magazine covers on SuperRare, with the “TIME Space Exploration — January 19th, 1959” generating the biggest sale of 135 Ether (ETH) worth around $318,000 at today’s prices.

Since then, Time has dropped another seven NFTs depicting magazine covers, with the “TIME First Issue — March 3, 1923” fetching 120 ETH worth roughly $283,000 in June.

Time Magazine names two crypto firms in Top 100 ‘most influential companies’ list

April 28, 2021 Coin Telegraph

Coin Telegraph

Digital Currency Group and Coinbase have made Time Magazine’s 2021 top 100 most influential companies list.

Time Magazine continues to warm up to crypto, naming Digital Currency Group and Coinbase in the magazine’s 2021 Top 100 Most Influential Companies list.

Published on April 27, the Top 100 emphasized the impact the two crypto giants have made over the past 12 months. The list consisted of four different categories — Pioneers, Leaders, Innovators and Disrupters.

Digital Currency Group was categorized as a Disrupter alongside other big names such as Tesla, Huawei, Shopify and Clubhouse. Time noted that the DCG is “demystifying crypto for investors” through its subsidiaries, asset manager Grayscale and crypto news website CoinDesk. As of today Grayscale has $45.5 billion total assets under management, or AUM:

“In January 2020, Grayscale’s Bitcoin Trust became the first financial product backed entirely by digital currency to report to the Securities and Exchange Commission—opening the Trust (and, by extension, the blockchain) to more potential investors.”

While Grayscale had a mammoth performance over the past year, its parent company's inclusion on the list may also be influenced by a recent partnership with Time. The publication and Grayscale are teaming up to drop a series of educational videos based on crypto, with Time also agreeing to be paid by Grayscale in Bitcoin and hold BTC on its balance sheet.

Coinbase was listed under Titan along with mainstream giants Facebook, Alibaba, Google, Walmart and Amazon. The exchange was described as “shoring up crypto’s credibility” in relation to its direct listing on the Nasdaq on April 14. The exchange earned more revenue in Q1 this year than all of 2020, with a reported $1.8 billion in Q1 compared to around $1.2 billion in all of last year:

“It’s been a huge year for cryptocurrencies, but nothing’s been as validating as the April 14 direct listing of Coinbase, which operates an exchange where 56 million users buy and sell Bitcoin and more. Coinbase ended its first day of trading worth nearly $86 billion—making it the most valuable U.S. financial exchange, and giving cryptocurrencies a boost of Wall Street cred.”

The addition of Coinbase and Digital Currency Group is another step along the road of mainstream acceptance of crypto. Just a short while ago it would have been hard to imagine the duo elevated into the company of renowned institutions in the Top 100 list such as Disney, BP, Paypal, Adidas, Spotify and AirBnB.

Time was first published in March 1923, and the magazine and online publication has continued to gradually expose itself to the crypto world. In March, it auctioned off its first set of tokenized magazine covers as NFTs, with the highest-selling NFT fetching almost $250,000.

Last week it announced a partnership with Crypto.com to accept one-time crypto payments for its 18-month digital subscription, offering 10% cashback to readers who paid in Cypto.com’s CRO coin.

TIME Magazine Gets Into Bitcoin: Partners With Grayscale, Will Hold BTC on Balance Sheet

April 13, 2021 Bitcoin.com

Bitcoin’s time has come: TIME magazine to hold BTC on balance sheet

April 13, 2021 Coin Telegraph

Bitcoin

TIME magazine has partnered up with Grayscale to drop a series of educational crypto videos, and has agreed to be paid in Bitcoin.

Institutional fund manager Grayscale has partnered with acclaimed New York-based magazine TIME to produce an educational video series on the subject of crypto assets.

The partnership was announced on April by Grayscale’s CEO, Michael Sonnenshein, with Sonnenshein revealing that TIME and its president, Keith Grossman, will receive payment in Bitcoin.

Further, TIME does not intend to convert the Bitcoin it receives through the deal into fiat, and will hold the crypto asset on its balance sheet. No further details of the partnership have been revealed so far.

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

TIME was first published on March 3, 1923, with the magazine and online publication having been active in the crypto space of late. In March, TIME cashed in on the NFT mania by dropping a set of tokenized magazine covers on NFT marketplace SuperRare, with the “TIME Space Exploration - January 19th, 1959” NFT fetching 135 ETH worth almost $250,000 on March 30.

The company also revealed they were seeking a crypto-friendly Chief Financial Officer in the same month after listing the position on Linkedin.

"The media industry is undergoing a rapid evolution. TIME is seeking a Chief Financial Officer who can help guide its transformation," the listing said.

According to Bitcointreasuries.com, TIME will become the 33rd publicly traded company to hold Bitcoin on its balance sheet. TIME joins the ranks of top U.S. companies Microstrategy — who have invested billions into BTC from August 2020, Square — who added 4,709 BTC to their treasury in October, and Tesla — which purchased $1.5 billion worth of BTC in January. Multinational investment corporation Blackrock also began dabbling in crypto during February, profiting more than $360,000 from a small long using Bitcoin futures.

This deal marks a significant partnership between giants of the mainstream and crypto worlds. Grayscale was founded in 2013 and has $46 billion worth of crypto assets under management, including roughly 3% of Bitcoin’s total circulating supply.

American News Magazine Time to Accept Crypto for Subscriptions, Firm Auctions 3 NFT Covers

March 23, 2021 Bitcoin.com

time magazine