On Wednesday, 23 March 2022, TIME plans to release the world’s first utterly decentralized magazine issue, and this issue will be available as an NFT.
TIME: Not a Web3 bandwagon
TIME is one company that has proven they are more than bandwagon fans of NFTs and Web3, this company is genuinely committed to the Web3 space, and almost monthly, it keeps breaking records in its industry with regards to NFTs.
After months of impressive NFT actions, TIME is ready to debut its first NFT issue on Wednesday; its cover story and cover personality feature an essential player in the Web3 space. This month’s cover story is “The Prince of Crypto has Concerns,” It’ll look into Vitalik Buterin’s fight for Ethereum’s future.
The NFT world is all about partnerships, so in a natural Web3 move, TIME has partnered with LITDAO on the creation of this issue. It is a Web3 NFT project and cultural currency if you’re unfamiliar with LIT. LIT was able to design and create the first fully decentralized book earlier in 2022.
The upcoming issue by TIME will be unlike anything that came before it; the magazine will be on the blockchain, hosted with the help of LIT through a decentralized protocol. Holders of this magazine NFT will be able to enjoy it with the help of an interactive NFT.
Select members of TIMEPiece and the genesis LIT community wallet holders will receive airdropped copies of the NFT magazine after its launch.
TIME’s Web3 Strategy: One year after
TIME has not held back since making its NFT debut in March 2021. According to the company, its NFT dealings have helped foster a community of over 5,000 TIMEPiece holders, 25,000 enthusiasts, creators, and collectors over $10 million in revenue.
Circle is supporting Wednesday’s airdrop; Circle is an internet finance provider that helps businesses by providing internet-based payments facilitation and financial infrastructure. Circle is also the sole issuer of USD Coin (USDC), and this company decided to partner with TIME to deliver the world’s first magazine published on the blockchain.
During its time in the Web3 space, TIME has been able to build its Web3 network and make a name for its brand within Web3 circles, so it wasn’t hard for TIME to get Transient Labs to serve as technical partners for the blockchain magazine project.
Excitement about TIME’s Landmark Achievement
Keith Grossman, the President of TIME, had the following to share concerning the company’s latest achievement in the Web3 space. “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.”
For those asking about what’s next for TIME in the Web3 space, the company recently announced hiring its first VP of Web3 Operations. Will Ban joins TIME from Artsy, and he’ll lead the company’s Web3 drive.