Los Angeles (CoinChapter) – TIME Magazine announced it will now begin accepting cryptocurrency as a form of payment for digital subscriptions. The option is made possible through a new partnership with Crypto.com.
Subscribers who purchase a digital subscription with cryptocurrency will receive unlimited access to content across Time.com for 18 months. They will also receive additional offerings and be invited to subscriber-only events.
“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,”TIME President Keith Grossman said.
TIME did not specify which cryptocurrencies are eligible as a payment method. However, users who elect to pay with Crypto.org Coin (CRO) will receive up to 10% cashback on their purchase. The digital subscription is valued at $49.
The option to purchase a digital subscription with cryptocurrency is only available in the United States and Canada. TIME is planning a global rollout later this July.
Time Magazines expansion into the cryptocurrency space
The groundbreaking announcement is a continuation of TIME’s expansion into the cryptocurrency space. Earlier in March, the magazine offered an exclusive series of three TIME covers as non-fungible tokens (NFTs) at auction.
TIME is a global media brand that reaches more than 100 million readers around the world. It first launched in 1923 and, to this day, is one of the more popular American news publications.
Crypto.com has been a leading proponent of digital currency payments since 2016, serving more than 10 million customers. The Hong Kong-based company has launched multiple pre-paid Visa cards that reward users with cashback rewards paid with CRO tokens.
Other companies to accept cryptocurrency as form of payment
In addition to TIME now accepting cryptocurrency as a form of payment. Other major companies have begun doing so this year as well.
Electric car manufacturer Tesla allows customers to pay for its products with Bitcoin. Moreover, the NBA’s Dallas Mavericks accepts Dogecoin as a payment method for its merchandise and apparel.