Even so, it did come as a bit of a surprise to me to hear that TIME Magazine is planning to introduce NFTs as part of its subscription plans.
This is also not some simple rumor — it was said by the TIME president, Keith Grossman, himself. He revealed the intention to use NFTs on the Decrypt Daily podcast some time ago, although he did not go into great detail.
According to him, TIME already has a history with crypto, albeit not that long. But, some time ago, the magazine entered into a partnership with Crypto.com to begin accepting cryptocurrency payments. So, if you wanted to subscribe to the Magazine, you could just pay with cryptocurrencies, which I think is rather neat, given the age and popularity of TIME.
The fact that it decided to accept cryptocurrencies means that the adoption is, indeed, progressing, and I expect that we will see more and more similar deals as we progress.
Emerging Markets and Partnerships
But, speaking of the partnership, he also touched upon TIME’s recent decision to sell three digital covers in the form of NFTs. Talking about it, Grossman hinted that this is only a start of TIME’s relationship with crypto and NFTs, further indicating that NFTs might receive special use cases within the Magazine’s subscription model.
Grossman said that TIME is playing in the NFT space, currently focusing on collectibles, but eventually switching to ‘subscriptions, memberships, and access to unique experiences tomorrow.”
As mentioned, he did not go into great detail regarding what this might mean or what kinds of benefits it might include, but it is clear from what was said that those who purchase TIME NFT-based subscriptions will have access to some unique content or something of that kind. And, honestly, I can say that I’m intrigued and that I will keep a close eye on this, to see what it might grow into.
Would you buy TIME’s NFT subscriptions?