World-renowned TIME magazine will be releasing the first-ever decentralized issue, which will be available as an NFT, on Wednesday, March 23.
TIME has had its hands full with plenty of impressive NFT actions in the past months, and finally, on Wednesday, it is ready to debut its first-ever NFT issue. It will feature Ethereum creator Vitalik Buterin.
This NFT issue’s cover story is “The Prince of Crypto Has Concerns” and will highlight Buterin’s fight for the crypto’s future. The story is by Andrew Chow, editor of TIME’s “Into the Metaverse” newsletter.
As TIME continues to push the boundaries as to what is possible within the web3 ecosystem, producing the first-ever full magazine on the blockchain seemed like a natural extension for our brand, and we knew this issue, in particular, would be cherished by our community
Keith Grossman, TIME president, about the company’s latest bullish Web3 achievement.
In line with this development, TIME also recently announced that Will Ban would join TIME from Artsy as the company’s first vice president of Web3 Operations. Ban will lead the company’s Web3 drive.
Not New to the Web3 Bandwagon
The NFT magazine is not the first time TIME is dipping its feet into the world of Web3 and NFTs. The company has proven its commitment to the Web3 space with its almost monthly record-breaking feats in the NFT industry.
Ever since it made its NFT debut in 2021, TIME has been working nonstop. The company’s NFT dealings have fostered a passionate community with more than 25,000 artists, enthusiasts, and collectors. Five thousand of these are TIMEPiece holders who have linked their digital wallets to TIME.com for seamless access to the website. TIME’s blockbuster first year in the Web3 space has made over $10 million in revenue.
TIMEPieces is a Web3 initiative from TIME for those who don’t know. It represents TIME’s initiation into the Web3 space and marks a critical first step in its Web3 community strategy. It allowed TIME to bring together artists, collectors, and fans in a concerted manner to build utility and community value down the road.
The first TIMEPieces NFT collection was the Genesis Collection, which launched in September 2021 with its “Build a Better Future” project. The project consisted of works by 40 amazing international artists spanning multiple disciplines.
A follow-up collection was the Long Neckie Women of the Year by Artist-in-Residence, Nyla Hayes. To date, the TIMEPieces NFT community initiative boasts of four collections—Genesis, Long Neckie, Inspiration, and the latest, Slices of TIME.
Partners in a Landmark Achievement
The world of NFTs thrives through collaborations, and as expected, TIME collaborated with LITDAO to bring this NFT magazine to fruition. LIT is a Web3 NFT project and cultural currency, and back earlier this year, it designed and created the first fully-decentralized book.
This time around, LIT will be hosting TIME’s upcoming NFT issue on the blockchain through a decentralized protocol. Exclusive members of TIMEPiece and wallet holders of the genesis LIT community will receive airdropped copies of the NFT magazine soon after its launch on Wednesday. These people will be able to enjoy their copies of the magazine through an interactive NFT.
Circle, a provider of Internet-based payments facilitation and financial infrastructure to many businesses and sole issuer of USD Coin (USDC), has partnered with TIME in handling the airdropping of the world’s first magazine to be published on the blockchain. On the other hand, Transient Labs will serve as TIME’s technical partner for this ambitious blockchain magazine project.
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