Under the new deal, TIME Magazine Will Hold Ethereum On Balance Sheet
Time Magazine did a new agreement deal. Under the deal, Time magazine will hold Ethereum in its balance sheet.
Time Magazine is an infamous magazine company, which is famous for its crypto initiative-based activities also. In the latest, this firm established a partnership with Galaxy Digital.
Under the partnership of TIME and Galaxy Digital, will hold Ethereum. And this is the first kind of deal with Time, which restricts Time Magazine to hold Ethereum.
TIME Magazine is popularly known for its well-known list of most 100 popular people and 100 companies. Recent listings of the top most companies and people included Ethereum co-founder Vitalik Butterin, Elon Musk-like players. And also in the companies, they included Bitcoin ATM companies. So we can understand very well how the work of this Magazine is inclined towards all the fields including crypto.
This is not going to be the first time when Time Magazine will hold crypto. Before this, Time Magazine did a deal with the Grayscale fund manager firm in April. And under the agreement deal with the Grayscale, TIME was restricted to hold Bitcoin in their balance sheet.
Well, under the new deal TIME will publish the newsletter on Metaverse to promote the Metaverse space. This deal between both of these parties was done with total fundings in Ethereum only. The whole agreement date is fixed for the next 6 months only. And in that time of interval, TIME will educate people about the Metaverse space and based initiative.
TIME Magazine will start publishing on the Metaverse space from December to its branded education page.
The co-founder and partner at the Galaxy Digital firm, Sam Englebardt, stated on this deal and said before going with the Metaverse development and implementation, we need to define this concept perfectly to the world. Because we can’t impose weird things on people directly.
The CEO and founder of Galaxy Digital, Mike Novogratz, stated:
“Over the next decade, the metaverse will become an increasingly important part of the world economy; our physical and digital realities are already becoming hard to distinguish”
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