TIME has designed a piece of art dubbed the ‘time not drop’. This NFT was designed and established on the Ethereum blockchain and has subsequently featured in the first full issue of the magazine. Following the launch of the debut NFT magazine full issue, TIME, the iconic magazine now seems to be setting the pace for the next generation of digital media.
Furthermore, to offer a unique concept of the debut edition, the publication also reached out to Vitalik Buterin, the co-founder of Ethereum and pioneer of Web3. Vitalik also stars as the centerpiece for ‘The Prince of Crypto Has Concerns’ cover story issued by the magazine.
According to the roadmap, the digital magazine has been launched today, the 23rd of March 2022. And this historical feat is made possible courtesy of the partnership with LITDAO. LITDAO is an NFT project and web3 cultural token that launched the first decentralized book at the beginning of the year.
Through a decentralized protocol, the issue can stay on the blockchain alongside an interactive NFT enabling owners to read and skim the full magazine.
Following the reports, TIME will be airdropping the NFT issue to a number of chosen genesis LIT community and TIMEPiece wallet holders. This will be made possible via the services of Circle, one of the prominent crypto payment platforms in the industry.
As its name suggests, the cover story for the issue will be an insightful and exclusive one. It will be an investigation into Buterin’s innovative struggles in the prospect of his radical crypto-creation.
It’s been a busy year for TIME in the Web3 sector and the announcement came on the back of it all. So far, the company has generated more than $10 million in total revenue and has developed a passionate and innovative community of more than 25,000 artists.
By doing so, more than 5,000 holders of the genesis collection of the company – the TIMEPiece NFTs, have linked their virtual wallets to the official website of TIME magazine. This will further help holders have easy access to all the platform’s features.
According to TIME’s president Keith A. Grossman, the company will continue to grow and break boundaries within the possibilities of the Web3 ecosystem. He went on to say that TIME launching the very first full digital issue on the blockchain is deemed a natural extension for the brand which he knows the community takes pride in.