Time magazine intends to move all future subscriptions to NFTs

The President of Time magazine recently said that he hopes to fully digitize all future subscriptions and move them to NFT so that every customer can own their data. In addition, it will give exclusive rights to the subscription.

Time Magazine president Keith Grossman said the company sees consumers as “tenants” with data ready to use. Thanks to NFTs, consumers can benefit from their subscription, he said.

“Forget Bored Apes for a second. When you step out of the collection space and focus on the creator and artist community, tokens not only allow proof of ownership, but also earn them royalties on future sales.”

NFT TIMEPieces consists of four collections: Genesis Inspiration, Long Neckie Women of the Year, Slices of Time and Beatclub Collection. All NFTs from these collections are works of art inspired by real magazine photos.

NFT TIMEPieces entitle their owners to subscriptions and exclusive invitations to certain events. Users can connect their wallets on the Time Magazine webpage to verify their identity and log into their account.

Time Magazine has released over 20,000 NFTs since the collection launched in 2021. Already about 12,000 wallets are connected to the site and store NFT TIMEPieces.

The average digital subscription price for Time magazine is about $24, while the average price for NFT TIMEPieces is about $1,000. Grossman claimed that the magazine had a stronger relationship with NFT holders than with the community it created with a $24 subscription.

Since its launch, the NFT line has generated over $10 million in profits. Another $600,000 was donated to several charities.

The implementation of NFT as a subscription is still in the early stages of development.

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