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Jafrin Ahmed
Mar 21, 2022
by Jafrin Ahmed

Time Magazine to Accept ApeCoin for Digital Subscriptions

Time Magazine ApeCoin
Time Magazine has announced that it will begin accepting ApeCoin (APE), an Ethereum-based token released by the founders of the Bored Ape Yacht Club NFT collection, in the coming weeks, according to an announcement published on Twitter.

The Ethereum-based token was launched on Thursday in “airdrop,” where certain groups of crypto holders automatically receive tokens as a reward. It also started trading on major cryptocurrency exchanges such as Binance and Coinbase. The token went chaotic during the first hours of trading, after bouncing to $39.40 then crashing to $8.90.

According to data from CoinMarketCap, $APE is currently down 8 percent over the last 24 hours and is currently trading at $10.71 with a market cap of $2 billion.

TIME Betting Big on Crypto and NFTs

Time Magazine initially made it possible to pay for digital subscriptions with Bitcoin and other cryptocurrencies, including XRP, Ether and Dogecoin, last April. After partnering with Grayscale, a subsidiary of Digital Currency Group, it also committed to hold Bitcoin on its balance sheet.

A year ago, the iconic publication also auctioned off some of its most memorable covers as non-fungible tokens. Earlier this week, the 98-year-old publication published its first issue as an NFT where the co-founder of Ethereum co-founder Vitalik Buterin graced its cover.

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Time Magazine ApeCoin
Time Magazine to Accept ApeCoin for Digital Subscriptions
Jafrin Ahmed
Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

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