Crypto

Ethereum (ETH) to Be Included in Time Magazine Balance Sheet

Ethereum (ETH) to Be Included in Time Magazine Balance Sheet

Following a collaboration with crypto finance business Galaxy Digital, Time Magazine will keep Ethereum on its balance sheet, according to officials.

Ethereum, the second-largest cryptocurrency after Bitcoin, has been used to fund the collaboration entirely. As part of the agreement, Time Magazine will keep Ethereum on its balance sheet for the first time, making it the first major media firm to do so.

Time’s Metaverse Makes Its Debut Galaxy Digital’s entertainment arm, Galaxy Interactive, is teaming up with Time magazine to establish a new edition of the magazine’s “Time 100 companies,” which highlights the world’s most successful entrepreneurs and businesses.

The list, created by the magazine, will feature corporations “that have the most effective within the area” as well as organizations that have helped form “experiences within the metaverse that are more accessible, impactful, or successful for businesses and consumers.” As part of the agreement, the newspaper will launch its metaverse-themed newsletter in the metaverse.

Time’s Debut on Metaverse

Galaxy Digital’s entertainment arm, Galaxy Interactive, is teaming up with Time magazine to develop a new version of its “Time 100 companies” list, which highlights the world’s most successful entrepreneurs and businesses.

The list, created by the magazine, will feature corporations “that have the most effective within the area” as well as organizations that have helped form “experiences within the metaverse that are more accessible, impactful, or successful for businesses and consumers.” As part of the agreement, the newspaper will launch its metaverse-themed newsletter in the metaverse.

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In the metaverse, the magazine will host educational content, which will be published on a new webpage named TIME for learning. The website is set to launch in December.

“Metaverse” is a virtual concept where people across the world can interact with each other via virtual avatars. The concept has been gaining steady momentum lately and is hosted on blockchain platforms that support smart contracts, such as Ethereum and Solana.

TIME plans to explain the metaverse concept and its potential to influence the future with the help of Galaxy Digital. As part of its effort to clarify the concept of metaverse for its readers, the publication will also feature views from Galaxy Interactive’s Interactive General Partners Sam Englebardt and Richard Kim.

“We look forward to partnering with TIME, an iconic brand driving innovation, as we seek to bring readers, creators, and the curious into the metaverse and demystify the tremendous amount of transformation happening within,” Mike Novogratz, CEO, and founder of Galaxy Digital commented on the partnership.

Previous attempts at Crypto

This isn’t the first time the publishing house has openly taken cryptocurrency payments. TIME has been holding Bitcoin since April, when it signed an agreement with Grayscale, a crypto institutional services provider, to produce educational movies supporting the cryptocurrency.

Time and Crypto.com announced a partnership in April to accept bitcoin payments for digital subscriptions.

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Oladotun Olayemi

Dotun is a financial enthusiast who specializes in first-in-class financial content, including crypto, blockchain, market, and business, to educate and inform readers.