TIME to accept ApeCoin for subscriptions

In the coming weeks, TIME will begin accepting ApeCoin (APE) tokens as payment for digital subscriptions, according to TIMEPieces, the journal’s Web3 initiative team.

Congrats to the ApeCoin DAO on the rollout of @ApeCoin & thrilled we can announce that @TIME will be accepting $APE for digital subscriptions in the coming weeks on https://t.co/tiBU5fsE5B ⏰❤️🍌🦍

— TIMEPiecesᵍᵐ ⏰ (@timepieces) March 20, 2022

On March 17, the Bored Ape Yacht Club (BAYC) NFT project announced the creation DAO, released ApeCoin and conducted an airdrop among holders of digital collectibles.

The coin is touted as a single asset for the BAYC ecosystem and for future products from the company behind the project, Yuga Labs.

The distribution of APE was accompanied by activity MEV-bots, as well as anomalous price spikes. For example, on the DEX SushiSwap quotes topped $440, while on the centralised exchange FTX the maximum was only $40.

CoinGecko CoinGecko recorded the coin’s volume-weighted ATH on March 18 at $17.17. At the time of writing the token was trading a little above $10.

TIME began accepting digital assets as a method of paying for subscriptions in April 2021. The feature was implemented in partnership with the Crypto.com payment platform.

Earlier, the publication first entered the NFT space a month earlier, selling as non-fungible tokens three covers. In September TIME released a new collection of 4,676 NFTs, granting ‘unlimited access’ to its site until 2023.

In 2021 the magazine first credited Bitcoin to its balance under an advertising contract with Grayscale Invesments. As a result of the partnership with the crypto-trading bank Galaxy Digital Holdings, the publication also became a holder of Ethereum.