Grayscale to pay TIME in Bitcoin for a series of videos about the crypto industry

TIME magazine will release a series of videos about the bitcoin industry as part of a partnership with asset manager Grayscale, according to Grayscale CEO Michael Sonnenshein.

Thrilled @Grayscale is partnering w/ @TIME on a new video series coming this summer explaining the #crypto space.

Equally as important, @KeithGrossman & @TIME has agreed to be paid in #Bitcoin — and will hold the $BTC on their balance sheet. A first for our media partnerships!

— Michael Sonnenshein (@Sonnenshein) April 12, 2021

According to Sonnenshein, the videos are slated for release in the summer of 2021, and TIME and its president, Keith Grossman, will be paid in Bitcoin.

The head of Grayscale noted that the magazine will not convert the first cryptocurrency into fiat and will keep it on its balance sheet. The parties did not disclose other details of the deal.

Earlier TIME posted вакансию for a chief financial officer with leadership-level experience, proficient in \u201cBitcoin and cryptocurrencies.\u201d

\u201cThe media industry is undergoing rapid evolution. TIME is seeking a chief financial officer who can help transform the magazine,\u201d the job description says.

Upon completion of the deal terms, TIME will join companies that hold bitcoin on their balance sheets. According to Bitcoin Treasuries, the list is led by analytics software provider MicroStrategy (91,579 BTC). Next come electric-vehicle maker Tesla (48,000 BTC) and payments company Square (8,027 BTC).

Earlier in March 2021, TIME sold three of its own NFT covers on the SuperRare marketplace for 241 ETH.

Follow ForkLog news on VK!