TIME plans to distribute the world’s first completely decentralised magazine issue on March 23, 2022, and this issue will be available as an NFT.
TIME: I’m not jumping on the Web3 bandwagon.
TIME is one company that has demonstrated that it is more than a bandwagon supporter of NFTs and Web3, and it is actually devoted to the Web3 sector, smashing records in its industry practically regularly in terms of NFTs.
TIME is set to release its first NFT issue on Wednesday, following months of spectacular NFT initiatives; the cover storey and cover personality feature an important participant in the Web3 field. “The Prince of Crypto Has Concerns,” is the cover storey this month. It will investigate Vitalik Buterin’s fight for the future of Ethereum.
Because partnerships are so important in the NFT era, TIME teamed up with LITDAO to create this issue, which is a natural Web3 move. If you’re new with LIT, it’s a Web3 NFT project and cultural currency. In 2022, LIT was able to develop and publish the first totally decentralised book.
TIME’s future issue will be unlike any other; the publication will be hosted on the blockchain, with the help of LIT and a decentralised protocol. Holders of this NFT magazine will be able to enjoy it via an interactive NFT.
After the debut of the NFT magazine, select members of TIMEPiece and holders of the genesis LIT community wallet will receive airdropped copies.
TIME’s Web3 Strategy: One year after its NFT debut in March 2021, TIME hasn’t slowed down. According to the firm, its NFT transactions have aided in the development of a community of over 5,000 TIMEPiece owners, 25,000 aficionados, makers, and collectors, as well as a $10 million revenue stream.
Circle, an internet finance service that assists businesses by offering internet-based payment facilitation and financial infrastructure, is sponsoring Wednesday’s airdrop. Circle is the sole issuer of USD Coin (USDC), and the business has partnered with TIME to offer the world’s first blockchain-based magazine.
TIME was able to construct its Web3 network and establish a name for itself inside Web3 circles during its time in the area, so it wasn’t difficult for TIME to get Transient Labs as technical partners for the blockchain magazine project.
TIME’s Landmark Achievement has sparked excitement.
TIME’s President, Keith Grossman, had the following to say about the company’s recent triumph in the Web3 space. “As TIME continues to push the frontiers of what is possible inside the web3 ecosystem, releasing the first-ever full-length magazine on the blockchain seemed like a natural extension for our brand, and we knew this issue, in particular, would be valued by our community,” says the company.
TIME recently announced the hiring of its first VP of Web3 Operations, which should answer any questions about what’s next for the firm in the Web3 area. Will Ban is joining TIME from Artsy and will be in charge of the company’s Web3 initiative.
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