Time Magazine turns to the metaverse and integrates Ether (ETH) into its treasury

Time Magazine wants to educate about the future of metaverse

Time Magazine, one of the most consulted magazines in the United States, announced on Thursday an unprecedented partnership with the group Galaxy Digital Holdings Ltd. by Mike Novogratz. First of all, it provides for the launch of a new category called “TIME100 Companies Metaverse” (ie TIME100 metaverse company) aimed at promoting promising entrepreneurs in the metaverse sector.

We’re also teaming up with @TIME to launch a new weekly newsletter, Into the #Metaverse, an exploration of the interaction between our physical & digital selves and much more. Sign up here! https://t.co/ummmroIggJ pic.twitter.com/Dm6PBO1sgH

– Galaxy Digital (@GalaxyDigitalHQ) November 18, 2021

With a view to educating readers on the rapidly expanding metaverse universe, the partnership between Time and Galaxy Digital also provides for the launch of a weekly newsletter. Entitled “Into the Metaverse” and written by Andrew Chow, it will explore how our physical and digital lives are increasingly intertwined. On the program, interviews with pioneering leaders in the transformations of the financial, cultural and innovation world that are taking place in the metaverse.

“Over the next decade, the metaverse will become an increasingly important part of the global economy; our physical and digital realities are already becoming difficult to distinguish, ”said Mike Novogratz, CEO and Founder of Galaxy Digital.

👉 On the same theme – Time Magazine sells NFTs of its covers for $ 440,000

Time Magazine now holds Ether (ETH)

The icing on the cake, the statement from Time Magazine indicates that the entire transaction was carried out in cryptocurrencies, more precisely in Ether (ETH). As a result, the company announced that it held ETH for the first time in its cash balance sheet, a major first for a media institution.

It is also not the first cryptocurrency to join the company’s treasury. Since its partnership with Grayscale in April 2021, Time Magazine has announced that it holds Bitcoin (BTC) on its balance sheet.

This operation is not trivial and follows the cryptocurrency and Web3 orientation that Time Magazine decided to take a few months ago. Indeed, since April 2021, the American magazine offers cryptocurrencies as a means of payment to pay for digital subscriptions. In addition, Time was one of the first media to sell NFTs bearing the effigy of its covers, an operation which then brought in no less than 276 ETH.

The fact remains that since Facebook’s announcement last October to rename itself Meta, in order to focus on its expansion into the world of metavers, this sector has experienced a meteoric rise. A craze that has attracted the attention of the media, investors and especially companies in the cryptocurrency industry and from various horizons. What’s next to get started?

👉 Going further – CoinEx adds French to its app and plans to invest $ 5 million in metaverse

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About the Author: Lilian Aliaga

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Freelance writer located between Paris and Toulouse. I want to share my passion for the world of cryptocurrencies with as many people as possible. I am also interested in technical analysis and trading.
All articles by Lilian Aliaga.

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