It has been reported that the digital subscription is valued at $49. In partnership with Crypto.com, a leading digital currency platform, the option to pay with cryptocurrency is currently only available in the United States and Canada, with a global rollout scheduled for July 2021.
Keith Grossman, the President of Time Magazine, said that the partnership with Crypto.com represents further innovations that will allow his publication to build on its existing community of 2.3 million subscribers.
Similarly, Bharat Krish, the Chief Technology Officer of Time, described the cryptocurrency-as-a-payment option as the “next phase in Time’s continued digital transformation and is the latest example of how Time is embracing new technologies in order to build innovative products and offerings for all members of our community.”
The report said that Time Magazine has been swift to embrace digital assets this year, having only recently auctioned three nonfungible token covers based on the now famous, “Is God Dead?” design from April 8, 1966. For its April 5, 2021, cover, Time asked, “Is Fiat Dead?” in reference to state-backed paper currencies.
Time Magazine says it’s time for crypto! The leading publication has partnered with @Cryptocom to accept cryptocurrencies for payments. https://t.co/RCWbW8sPXo — Cointelegraph (@Cointelegraph) April 19, 2021
Likewise, Crypto.com has been a leading proponent of digital currency payments, giving users significant discounts for paying with its native CRO token.
The company has also launched a suite of pre-paid Visa cards that reward users with cashback rewards paid with the CRO token.
Thus, Time Magazine, the popular American news publication first issued in 1923, is now accepting cryptocurrencies as a form of payment, offering yet another compelling sign that digital-asset adoption is on the rise.