Famous media outlet, read by millions daily, Time magazine released its first full issue as an NFT. The release marks the first time an entire publication has been stored on the blockchain and hosted through a decentralized protocol, thus, enabling users to read the magazine in the form of an interactive NFT.
The issue was created in partnership with LITDAO, a cultural organization that is currently developing a fully decentralized book.
On the cover of the NFT magazine stands one of the most prominent figures in the Web 3.0 space – Ethereum’s co-founder Vitalik Buterin.
Time has been launching NFT drops and accepting cryptocurrency payments since last year and ‘TimePieces’, the magazine’s official NFT marketplace, has launched several NFT collections and collaborated with numerous artists.
“As TIME continues to push the boundaries as to what is possible within the Web 3.0 ecosystem, producing the first-ever full magazine on the blockchain seemed like a natural extension for our brand and we knew this issue, in particular, would be cherished by our community,”
said Keith A. Grossman, the president of Time.
On the Flipside
- Time has hired Will Ban to be its first-ever vice president of Web 3.0 operations. Ban will work to build the magazine’s Web 3.0 vision to support creators, collectors, and the community, Time announced.