TIME Magazine, founded in the 1920s, becomes the latest prominent organization to accept cryptocurrency for its subscription plan. Following the agreement with the leading crypto platform, Crypto.com, readers of the magazine can now pay through digital currency with a ten percent cashback.
Crypto.com, the famous digital currency payment platform, gives their consumers significant cash back using their native CRO coin. For now, the option to pay for the $49 18-month subscription plan is only available in North America.
However, the company’s worldwide rollout is set for July this year. Per the announcement, Keith Grossman, TIME Magazine’s president, said that “as TIME continues to innovate and find new ways to build upon our existing community of 2.3 million subscribers, we are proud to offer this new payment option through our partnership with Crypto.com,”
TIME Magazine Taking the Lead in Embracing Crypto
Meanwhile, another senior official of TIME Magazine, Baharat Krish, described the move as the publication’s journey towards digitalization and as an example of how it is embracing new blockchain technology. The official went on to add that “we are thrilled to offer cryptocurrency as a payment option for our digital subscribers for the first time.”
On the other hand, the fans of the new blockchain technology argue that the announcement shows a sign of crypto adoption, which seems to be on the rise.
Notably, the publication recently agreed to be paid in Bitcoin for a video series it would be producing for Grayscale. The firm also recently auctioned three of its covers as an NFT.