TIME Magazine Will Soon Begin Accepting ApeCoin (APE) as Payment

Amid the frenzy of the launch of ApeCoin, TIME, the New-York based news magazine and publisher, has announced that APE will soon be accepted as payment for its digital subscription services.

ApeCoin is a utility and governance token issued by the ‘Apecoin DAO’ to ‘Bored Ape’ and ‘Mutant Ape‘ NFT holders. Since the claiming of APE began on March 17th it has gone on to become the most traded NFT token among Ethereum whales.

TIME Magazine Continues its Crypto Voyage

In April 2021, TIME Magazine announced that it would be accepting BTC, XRP, ETH, and DOGE as payment for its digital subscriptions services. Now, the American news magazine has announced that its users will also be to pay using the newly issued ApeCoin (APE). 

TIME disclosed that its users will be able to pay for digital subscriptions services in the coming weeks. 

Early Success for ApeCoin

Before TIME Magazine announced that it would be accepting ApeCoin, E11EVEN Residencies in Miami and SaltWater Brewery announced their own intentions to accept APE as payment for their products.

Yuga Labs, the creators of the Bored Ape Yacht Club, has also teased the launch of  a metaverse that will be powered by ApeCoin.

On the Flipside

  • Despite the early support ApeCoin has received, the price of the token has been in freefall. From its ATH of $39.4 set on March 17th, APE is now trading at $10.19, as of this writing.

The five day price chart for ApeCoin (APE). Source: Tradingview

Why You Should Care

The early support received by ApeCoin could help the project break the norm of airdrop tokens losing their entire value shortly after launch.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Author

Milko is a DailyCoin reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs).