US media outlet Time Magazine has announced a first-of-its-kind partnership with Galaxy Digital, a leading provider of digital asset-based financial services for institutions. The goal is to educate TIME readers about the world of metaverses through the entrepreneurs working to build a more immersive future in them.
Time Magazine wants to educate on the future of metavers
Time Magazine, one of the most widely read magazines in the U.S., announced on Thursday a groundbreaking partnership with Mike Novogratz’ Galaxy Digital Holdings Ltd. First of all, it plans to launch a new category called “TIME100 Metaverse Companies” to promote promising metaverse entrepreneurs.
In an effort to educate readers about the rapidly expanding world of metavers, the partnership between Time and Galaxy Digital also includes the launch of a weekly newsletter. Entitled “Into the Metaverse” and written by Andrew Chow, it will explore how our physical and digital lives are increasingly intertwined. The program will feature interviews with leaders pioneering the transformations in the financial, cultural and innovation worlds that are taking place in the metaverse.
“Over the next decade, the metaverse will become an increasingly important part of the global economy; our physical and digital realities are already becoming difficult to distinguish,” said Mike Novogratz, CEO and founder of Galaxy Digital.
Time Magazine now owns Ether (ETH)
As the icing on the cake, Time Magazine’s press release states that the entire transaction was conducted in cryptocurrencies, specifically Ether (ETH). As a result, the company announced that for the first time it holds ETH in its cash balance sheet, a big first for a media institution.
Incidentally, this is not the first cryptocurrency to join the company’s treasury. Since partnering with Grayscale in April 2021, Time Magazine has announced it holds Bitcoin (BTC) on its balance sheet.
This operation is not insignificant and follows the cryptocurrency and Web3 orientation that Time Magazine decided to take a few months ago. Indeed, since April 2021, the American magazine has been offering cryptocurrencies as a means of payment to pay for digital subscriptions. Moreover, Time was one of the first media to sell NFTs bearing the effigy of its covers, an operation that had then brought no less than 276 ETH.
However, since Facebook announced last October that it was renaming itself Meta, in order to focus on its expansion in the world of metaverses, this sector has experienced a meteoric rise. A craze that has attracted the attention of the media, investors and especially companies in the cryptocurrency industry and from various backgrounds. What will be the next one to jump in?
