Time Magazine: A Symbol of Growing Interest in Cryptocurrency & NFTs

Time Magazine: A Symbol of Growing Interest in Cryptocurrency & NFTs

Time Magazine, one of the most influential publications in the world, is now looking for a Chief Financial Officer (CFO) who feels comfortable with cryptocurrencies at a time when it has released 3 special edition NFT magazine covers for auction.

The publication, which is set to be 100 years old in 2 years, is now looking for a new CFO who can “help guide its transformation” from a legacy to an innovative business. In addition to more than 7 years in executive leadership positions, the job requires applicants to have “comfort with Bitcoin and cryptocurrencies”.

New Opportunities at Time Magazine

The post of CFO is currently held by Christopher Gaydos, a veteran in the financial industry who has been in the position since late 2008 and would be replaced by the applicant selected for the position.

Keith A. Grossman, President and Board Member of Time Magazine, tweeted early on Match 22nd sharing the news that Time Digital subscriptions would accept cryptocurrencies as a method of payment within 30 days.

Time Auctions 3 Special Edition NFT Magazine Covers

Time announced back on March 22nd the launch of its 3 first-ever Non-Fungible Token (NFT) magazine covers created specifically to be auctioned to collectors or other interested parties who bid before March 24th.

The 3 covers are inspired by the “Is God Dead” cover from back in 1966, one of the magazine’s most iconic covers in its 98 years of existence, and feature the phrases “Is God Dead?”, “Is Truth Dead”, and “Is Fiat Dead $”.

The “Is God Dead?” cover created a lot of debate and controversy when it was published at a time when 97% of US citizens believed in god, while the “Is Truth Dead?” was published during the first year of Donald Trump’s presidency”.

While the new NFT cover won’t certainly be understood immediately by the average person, it reflects the current trend being experienced globally as blockchain technology and its different applications, like cryptocurrency and NFTs, continue to gain popularity and adoption.

Grossman also referred to these 3 NFT covers via a tweet in which he expressed that, “Collectibles will always be important but @TIME’s crypto ambitions are larger as we continue our digital transformation!”

The decision of Time of moving closer toward NFT and cryptocurrencies will certainly prove to be useful in increasing awareness of cryptocurrencies among its readers, while also boosting the adoption of crypto by increasing its use cases as more publications are likely to follow its steps.

NFT Craze Continues As Media Coverage Increases

The NFT craze started early this year as personalities like Taylor Swift and Mark Cuban started launching their own NFTs, taking the technology to the attention of fans around the globe who were not familiar with it.

According to Nongungible.com data, the NFT market represented over $52 million in trading volume over the last week, almost 10% of the total trading volume since June of 2017, a reflection of the increasing interest this market has sparked over the past months.

Rising Interest in NFTs

NFT coins, on the other hand, have surpassed the $7 billion market cap according to coingecko data, with gaming projects like Enjin, Decentraland, and leading the rankings while

Over the past weeks, NFTs have been the subject of coverage by mainstream media due to the “exorbitant” prices paid by collectors who have jumped at the chance of acquiring them, as in the case of Jack Dorsey’s first tweet for $2.5 million.

While NFTs have been criticized by several news outlets and personalities, NFT collectors have been quick to point out that just as with any other type of art, NFTs are not about appearance or how easy is to obtain an exact replica, as much as authenticity and ownership.

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Published at Tue, 23 Mar 2021 06:15:39 +0000

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