Time Magazine Will Hold ETH As Part of Galaxy Digital Partnership To Support Metaverse Newsletter
Read the full article by Turner Wright here
Mike Novogratz said the partnership was part of a move to “bring readers, creators, and the curious into the metaverse.”
Key Points;
The media company that has that has been a staple of media for nearly an entire century now is partnering with Novogratz’s Galaxy Digital in an effort to allow it’s readers to be informed on the metaverse.
Novogratz said the partnership was part of a move to “bring readers, creators, and the curious into the metaverse and demystify the tremendous amount of transformation happening within.” Galaxy Digital is already seemingly focusing on expanding into the metaverse, having raised $325 million in an October fundraising round aimed at virtual endeavors.
The partnership with Galaxy Digital was conducted using Ethereum ($ETH), the media giant plans to hold the currency on it’s balance sheet. Time has already been holding Bitcoin(BTC) since April as a partnership they formed with Grayscale.
Time also previously announced it would be allowing readers to pay for digital subscriptions using cryptocurrency, and has also been delving into nonfungible tokens with the auction of three tokenized magazine covers.
“Our first objective is to create a shared lexicon and understanding of the idea and the opportunities that are emerging as we become an increasingly digital species and continue (and accelerate) our ongoing journey from the physical to the virtual world,” said Galaxy Interactive managing partner Sam Englebard.