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By using Bitcoin and other assets as a payment method for digital subscriptions, Time Magazine has doubled its efforts on cryptocurrencies. This innovation came a few weeks after the New York-based magazine partnered with Grayscale to produce educational crypto videos and be paid in BTC.
The company announced its second cryptocurrency-related partnership in a week. The company has partnered with Crypto.com to enable its users to use Bitcoin and other cryptocurrency assets to purchase digital subscriptions.
Readers who choose this option will “receive unlimited access to content across Time.com for 18 months with their one-time purchase, as well as subscribed-only events and offerings.”
Initially, only subscribers in the US and Canada can use cryptocurrency to pay. However, the two parties plan to expand these to other countries before the end of the year.
As part of the partnership, users who use CryptoCom’s native digital assets (CRO) to pay will get cashback rewards of up to 10%.
Following the announcement, a CryptoCom spokesperson stated that the company is always looking for new and innovative partnerships to advance our mission to accelerate the global transition to cryptocurrency.
Right before the above development, TIME worked with Grayscale, the largest digital asset manager, to create a new educational video series on cryptocurrencies.
Perhaps more noteworthy is the payment method. Following the announcement, Michael Sonnenshein, CEO of Grayscale, announced that TIME and its CEO Keith Grossman had agreed to be paid in Bitcoin.
Additionally, TIME will keep the BTC received on its balance sheet, thus joining the likes of MicroStrategy, Tesla, and other companies.