As part of its newly established deal with the prominent crypto investment company, Galaxy Digital, widely-renowned magazine publication TIME Magazine, is set to include Ether (ETH) on its balance sheets for the very first time.
According to the reports, TIME Magazine’s decision to now hold ETH is its way to support its new weekly newsletter with Galaxy, called “Into the Metaverse,” which is said to be fully financed by the particular asset class. Furthermore, the deal reportedly involves TIME Magazine publishing a specific issue that highlights 100 companies that would find themselves busy regarding the metaverse.
All in all, the joint project intends to educate the masses regarding the now-becoming popular term “metaverse,” which was seemingly kickstarted by Facebook’s announcement weeks back of its incoming name change to “Meta.”
Mike Novogratz, head honcho of Galaxy Digital, commented on this development by stating that the move aims to bring creators, readers, and those curious about it into the metaverse and clarify its tremendous, transformational potential to everyone interested. While TIME Magazine is only beginning to tap its toes into the metaverse, Galaxy is seemingly already knees-deep – raising $326 million this past October specifically for various virtual endeavors.
Notably, TIME Magazine has been holding Bitcoin (BTC) since April this year as part of its collaborative venture with Grayscale. On top of its previous announcement of one day allowing its readers to pay for digital subscriptions via cryptocurrencies, the fact that TIME Magazine now holds the two most prominent cryptos signifies the publication’s rapidly growing interest in the particular sector.