- TIME Magazine, through a strategic partnership with Crypto.com, will be offering its audience cryptocurrency payment options for subscriptions.
- TIME customers who pay in CRO token will enjoy benefits such as a 10 percent kickback for every payment they make.
Cryptocurrency adoption has continued to see more mainstream companies exploring crypto payments in recent years. TIME Magazine is the latest to join the growing list of companies offering their customers payment options in digital currencies. On Monday, April 19, the American media house announced to its 2.3 million subscribed readers the option to pay for a digital subscription using cryptocurrencies. To achieve this, the publication has partnered with Crypto.com.
The Magazine’s entry into the market began a few weeks ago when it listed its first-ever NFTs (non-fungible tokens) creations. This was a collection of three special magazine covers, one of which excited the crypto community by posing the question, “Is Fiat Dead?”
Rewards for CRO users
The partnership with Crypto.com further means that there will be perks for customers who pay using CRO, the native token of Crypto.org. According to the official announcement, customers will get 10% back as a pay reward for using this token. This is set to incentivize those using the token and offer customers a great discount on what will be a one-time purchase. With the purchase, users will get full access to Time.com for 18 months. As per Crypto.com’s FAQ, these rewards will be paid out in the CRO token.
The offer will be available to US and Canadian citizens. The magazine intends to launch the same globally later in the year.
— #TeamTIME (@TeamTime) April 19, 2021
TIME has proven that it is innovative and adaptive to changing market trends with the incorporation of cryptocurrencies. In a fast-changing world, it is key for companies and organizations to fulfill customers’ needs to stay ahead.
TIME President Keith Grossman commented about the new innovation:
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,
Kris Marszalek, co-founder and CEO of Crypto.com, expressed his enthusiasm over the opportunity to work with TIME. He remarked:
Our mission is to accelerate the world’s transition to cryptocurrency and together with TIME we’ve just taken a major step forward towards reaching our goal.
TIME has been around for more than 95 years, and in this time, it has watched the money evolve every other decade – from the gold standard to fiat, and now, what could turn out to be an overhaul of the entire monetary system. This is engineered by Bitcoin and pioneered by exchanges like Crypto.com. By accepting cryptocurrencies, it has booked a front seat.
It’s crypto TIME
The American publication is among the world’s most iconic brands in the media industry. With a combined audience of over 100 million globally, it is a trusted source of business, political and entertainment news.
The company has recently taken a keen interest in cryptocurrencies. Just a week ago, it announced that it was partnering with Grayscale on a new video series. Grayscale is to pay the magazine in Bitcoin, which according to the CEO, it will hold on its balance sheet. TIME joined companies like Tesla and Microstrategy, all of which have Bitcoin on their balance sheets.