TIME, a global media brand with an audience of 100 million around the world, has announced that it has started accepting cryptocurrency as a form of payment for digital subscriptions.
As was reported previously, the company would be HODLing any BTC that they receive, much like electric car maker Tesla when it announced that they are accepting only BTC as payment soon after investing $1.5 billion in it.
This announcement follows TIME’s recent expansion into the cryptocurrency space after it offered an exclusive series of three TIME covers as NFTs at auction.
“We are thrilled to offer cryptocurrency as a payment option for our digital subscribers for the first time.”
Bharat Krish TIME Chief Technology Officer
Currently, this pay with the crypto feature is only available in the U.S. and Canada. But the company plans to roll up the global access in the next several months.
Those subscribers who pay with crypto will receive unlimited access to content across Time.com for 18 months with their one-time purchase, as well as subscriber-only events and offerings.
TIME will accept crypto through its partnership with the cryptocurrency exchange Crypto.com that will also offer Pay Rewards of up to 10% back for subscribers who pay with CRO, the native coin of the exchange.
“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.”
Keith Grossman TIME President
Last month, TIME also opened the position for CFO who has “Comfort with Bitcoin and cryptocurrencies.”