TIME – a leading news and analysis source
On Monday, TIME announced that the global media brand with a community of over 2.3 million subscribers, has partnered with Crypto.com to begin accepting crypto payments for digital subscriptions.
Readers that choose to pay for their TIME subscriptions with crypto will get unlimited access to TIME’s editorial content for 18 months, along with other exclusive offerings and events. At the moment, TIME’s crypto payment option is only available in Canada and the United States, but will soon be rolled out across the world.
“As TIME continues to innovate and find new ways to build upon our existing community of 2.3 million subscribers, we are proud to offer this new payment option through our partnership with Crypto.com,” TIME President Keith Grossman said.
TIME expanded into the crypto space in March 2021, when it auctioned a series of exclusive TIME Magazine covers as NFTs, one of which was specially designed as an NFT.
As part of the partnership deal between TIME and Crypto.com, Crypto.com will offer subscribers up to 10% in Pay Rewards for using the Crypto.org Coin, CRO.
TIME accepts crypto payments for subscriptions
WeWork – an office sharing giant
Innovators of the shared workspace, WeWork, will accept crypto payments from tenants and will also pay landlords in this ever-popular digital currency.
The $9 billion company announced that it will accept payments in Bitcoin, Paxos, Ethereum, USD Coin, and a few other cryptocurrencies. This includes payments for its workspace solutions and for memberships, and WeWork expects to hold all crypto payments on its balance sheet as opposed to converting them to fiat currencies.
“WeWork’s strength is in our ability to evolve and best meet the diverse needs of our members around the world. As our member base continues to grow in the fintech sector, so will our ability to adapt to their needs and service a new economy,” WeWork CEO, Sandeep Mathrani said.
One of WeWork’s clients is Coinbase, the largest crypto exchange in the United States, became the first client to pay for its WeWork membership in crypto.
Crypto begins to infiltrate the mainstream
It is no secret that crypto payments are becoming ever more accepted by the public. Elon Musk’s crypto payment options at his Tesla company made the headlines and many other companies are following suit.
Several cosmetic companies have jumped on the crypto payment bandwagon as well. Brands like Wake, Lush Cosmetics, R+Co, Opu Labs and Perfect 365 added crypto options as payments.
“The reason why we wanted to do it is because other beauty brands weren’t doing it,” Wake co-founder Alex Mavor, a personal Bitcoin purchaser, said.
Financial services PayPal and Venmo have also moved towards the crypto space, where consumers can Check out Using Crypto at PayPal’s merchants, and Venmo users can buy and sell cryptocurrencies from the platform.
Currently, Microsoft is exploring the notion of implementing crypto payment options in the Xbox store for its users, and is conducting a first of its kind crypto poll. Cryptocurrencies are being embraced by more and more reputable institutions as the days go by. Could these companies be the influencers cryptocurrencies need to gain worldwide recognition? We shall see.
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