September 27, 2022

TIME magazine will start accepting ApeCoin for subscriptions

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In the coming weeks, TIME will begin accepting ApeCoin (APE) tokens for digital subscriptions. This was reported by the team of the Web3-initiative of the magazine – TIMEPieces.

On March 17, NFT project Bored Ape Yacht Club (BAYC) announced the creation of the DAO, launched ApeCoin, and airdropped digital collectibles.

The coin is announced as a single asset for the BAYC ecosystem and future products of the company behind the project, Yuga Labs.

The APE distribution was accompanied by MEV bot activity as well as anomalous price spikes. For example, on DEX SushiSwap, quotes exceeded $440, while on the centralized exchange FTX, the maximum was only $40.

The CoinGecko service fixed the weighted average ATH of the coin on March 18 at $17.17. At the time of writing, the token is trading just above the $10 level.

TIME began accepting digital assets as a subscription payment method in April 2021. The magazine implemented the option in cooperation with the Crypto.com payment platform.

A month earlier, the publication entered the NFT space for the first time, selling three covers as non-fungible tokens. In September, TIME released a new collection of 4,676 NFTs providing “unlimited access” to its site until 2023.

Recall that in 2021, the magazine for the first time credited bitcoin to the balance as part of an advertising contract with Grayscale Investments. As a result of a partnership with crypto trading bank Galaxy Digital Holdings, the publication also became an Ethereum holder.

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