The electronic subscription is worth about $49. The option to settle in cryptos is presently offered only in the US and Canada, with a worldwide launch planned for July 2021.
Keith Grossman, president of Time Magazine, has stated that the collaboration with Crypto.com mirrors additional advancements that will permit the digital publication to develop on its prevailing community of 2.30 million subscribers.
Bharat Krish, chief technology officer of Time, explained the cryptos as a mode of payment as the “next phase in Time’s continued digital transformation and is the latest example of how Time is embracing new technologies in order to build innovative products and offerings for all members of our community.”
Time Magazine has been quick to adopt cryptos in 2021, following an auctioning of three non-fungible token covers on the basis of now popular “Is God Dead?” image from April 8, 1966 edition. In its April 5, 2021 cover, Time queried “Is Fiat Dead?” with respect to state-backed paper currencies.
Crypto.com has been a top advocate of cryptocurrency payments, offering users considerable discounts for payments with its native crypto token named CRO. The company has also rolled out a bouquet of pre-paid Visa cards that provide users with cashback rewards in the form of CRO token.
The popular US media outlet, Time Magazine, came out with its first issue in 1923. It is now accepting cryptos as a mode of payment, giving another hint that cryptocurrency adoption is increasing.