Time magazine uses blockchain technology to reform its subscription system

Time magazine is planning to fully digitize its subscription system using blockchain technologies, according to Time President Case A. Grossman.

According to Mr. Grossman, all future Time subscriptions will be NFTs on the TIMEPieces platform, giving users exclusive ownership of the magazine’s content. According to Grossman, thanks to non-fungible tokens, readers will become full-fledged «owners» of the magazine and will benefit from subscribing, no longer simply «renting» content.

Currently, there are 4 NFT collections available on the TIMEPieces platform — Genesis Inspiration, Long Neckie Women of the Year, Slices of Time and Beatclub Collection. NFTs from TIMEPieces provide their owners with a subscription to the electronic version of the magazine and exclusive invitations to TIME events.

In addition to launching its own collections of non-fungible tokens, TIME representatives announced cooperation with The Sandbox metaverse: the partners plan to build a copy of Times Square in the virtual world. TIME hopes that the Times Square in the metaverse will become a bridge between the virtual community of the publication and the daily events of TIME in real life.