Time will release an NFT magazine — the first-ever fully decentralized issue honoring their Vitalik Buterin front cover on Wednesday, March 23. They created the magazine in partnership with LITDAO, a cultural organization that currently develops fully decentralized books.
Ethereum Co-Founder Vitalik Buterin Graced the Cover of Time’s NFT Magazine
The magazine will live on the blockchain hosted through a decentralized protocol. Thus, holders can read the entire magazine through an interactive NFT. TIMEPiece and genesis LIT community wallet holders will receive the NFT issue.
TIME President, Keith A. Grossman, said: “As TIME continues to push the boundaries as to what is possible within the web3 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.”
This is not the first time the American news magazine and website dived into the Web3 space. Last year, they sold three iconic magazine covers as NFTs during an auction for $435,000. They also collaborated with Cool Cats for an NFT drop and meme competition.
On September 23 last year, Time released their second NFT project called Timepieces composed of 4,676 made by 40 global artists. As of writing, TIME’s evolution to the Web3 space generated more than $10 million in revenue. It also curated a passionate community of over 25,000 artists, collectors, and enthusiasts.
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