The well-known American magazine Time, which currently has 2.3 million subscribers, announced that it began accepting bitcoins and other cryptocurrencies to pay for subscriptions.
To receive digital assets, the publication has partnered with the Crypto.com platform. So far, only residents of the United States and Canada can pay for subscriptions with cryptocurrencies, and readers from other countries will get this opportunity “within a few months”.
Crypto.com Pay was chosen as a payment service, so it will be possible to pay for subscriptions with BTC, ETH, XRP, LTC and DOGE, as well as with the DeFi project tokens Uniswap, Aave, Balancer and Compount. Subscribers will also receive Crypto.com tokens called CRO at a rate of 10% of the subscription amount.
Time will receive and store cryptocurrencies, unlike most similar initiatives, where digital assets are converted into fiat currencies at the time of payment. In addition, the publication will release a number of new videos about cryptocurrencies together with Grayscale, for which it will receive a payment in bitcoins.
Recall that at the end of March, Time’s management held an auction for the sale of three magazine covers in the form of non-fungible tokens (NFT). For the issued tokens, the publication received $ 435,000.
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