- The president of Time Magazine, Keith Grossman, recently declared his intention to convert all forthcoming subscriptions into “TIMEPieces” NFTs.
- According to Time Magazine’s president Keith Grossman, companies have been treating clients like “renters” who can be used for their data.
- The NFTs of TIMEPieces is composed of the Beatclub Collection, Slices of Time, Long Neckie Women of the Year, and Genesis Inspiration collections.
Keith Grossman, the president of Time Magazine, recently expressed his desire to convert all upcoming memberships into “TIMEPieces” NFTs, which grant holders special subscription rights and the capacity to own their data.
According to Time Magazine’s president Keith Grossman, businesses have been viewing customers as “renters” with data available for exploitation. According to Grossman, the introduction of NFTs changes customers into online owners who may take advantage of their subscriptions and control their data.
Grossman talked about TIMEPieces to CNBC and said that if we put Bored Apes aside for a moment when they turn their attention to the community [of producers and artists] and away from the collecting sector… The tokens allow them to attach a royalty on future sales and enable you to confirm ownership.
Four collections make up The NFTs of TIMEPieces: Beatclub Collection, Slices of Time, Long Neckie Women of the Year, and Genesis Inspiration. Every NFT in these collections is a work of art that was influenced by real photographs from the magazine.
The holders of TIMEPieces NFTs receive subscription rights and special invitations to particular events. On the Time Magazine website, users can link their wallets to verify their identity and login into their accounts.
More than 20,000 NFTs have been airdropped by Time Magazine since the collection’s inception in September 2021. Around 12,000 wallets currently have TIMEPieces NFTs and are linked to the service, according to Grossman.
The aforementioned NFT is one of the more expensive ones. It costs 10 ETH right now and is a part of the Slices of Time series.
While Time Magazine digital subscriptions typically cost around $24, TIMEPieces NFT typically costs around $1,000. Grossman asserts that the Magazine’s connections with its NFT holders are stronger than the community it has fostered with its $24 subscriptions.
The NFT line has made more than $10 million in profit since its introduction. Additionally, 600 000 dollars were raised for other charities. The Magazine has invested in “TIME Square,” a space in the Sandbox. Also, for the creation of TIME Square, The Sandbox worked with the Web3 community project TIMEPieces from TIME Magazine.