Connect with us

Ethereum

After Bitcoin, Ethereum next to feature on TIME Magazine’s balance sheet

Published

on

Source: Pixabay


Ethereum [ETH] will soon feature on TIME Magazine’s balance sheet as part of the publication’s partnership with crypto-investment firm Galaxy Digital. The partnership is aimed at educating its readers about the metaverse through a newsletter dubbed “Into the Metaverse.”

Furthermore, the popular media publication stayed “true to its crypto and Web3 focus” by carrying out the entire transaction in ETH. In fact, this also “marked a first for a major media organization,” a press release noted. It added,

“Additionally, TIME will hold ETH on its balance sheet for the first time. This payment follows TIME beginning to accept cryptocurrency as a form of payment for digital subscriptions in April 2021 as the brand continues to expand into the cryptocurrency space.”

Along with the newsletter, the magazine will also be launching a TIME 100 Companies list for the metaverse. This will highlight companies that are making the blockchain and crypto-space more accessible, along with those providing solutions for the meaningful development of the metaverse sector.

Ether will be joining Bitcoin as the second cryptocurrency to feature on TIME’s balance sheet. It was paid in the top cryptocurrency for a deal with another investment management firm, Grayscale, back in April. The deal also included the release of a series of educational videos about0 the industry.

Back in March, TIME had released a series of three TIME covers as non-fungible tokens at an auction. This included the first-ever cover designed exclusively as an NFT.

While TIME magazine’s Ethereum holdings remain unprecedented in the world of media, several institutional investors are looking at the network as a viable investment asset. Currently, Ether also features on the balance sheets of Galaxy Digital, crypto-exchange Coinbase, and Hive Blockchain.

Since most of these are admittedly companies operating in the crypto-space, TIME magazine’s ETH foray could be considered an even more significant event.

Read the best crypto stories of the day in less than 5 minutes

Subscribe to get it daily in your inbox.


Please select your Email Preferences.

Anjali is a full-time journalist at AMBCrypto. With a strong background in humanities, her personal inclination lies towards the political and socio-economic aspects of the crypto-sphere

Click to comment

Leave a Reply

Your email address will not be published.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.