TIME Magazine will publish an issue in non-fungible token (NFT) form. Vitalik Buterin, co-founder of Ethereum (ETH), is featured on the cover and in a long interview.
TIME magazine as NFT
TIME magazine will publish a special edition in non-fungible token form (NFT) on March 23. The issue will feature a lengthy interview with Ethereum (ETH) creator Vitalik Buterin.
The cover of this NFT edition features the founder with the headline “The Prince of Crypto Has Concerns”.
@VitalikButerin co-founded Ethereum. Now he’s fighting for crypto’s future https://t.co/b90AaKXM51 pic.twitter.com/gUz2Vnm35F
– TIME (@TIME) March 18, 2022
Andrew Chow interviewed Vitalik Buterin about the potential dangers of the industry he helped create.
During the 1 hour and 20 minute interview, Buterin explained the “dystopian potential” of crypto-currencies if they are not implemented properly. Among his biggest concerns are overzealous investors, high transaction fees and people who boast of having made a fortune from trading crypto-currencies and NFTs.
While Buterin has high hopes for the industry, he fears that his vision of a more equal digital economy is in danger of being overtaken by nefarious actors who seek only greed.
“If we don’t have a voice, the only things that get built are those that are immediately profitable. “
On March 23, TIME will publish the world’s first decentralized magazine edition as an NFT on the blockchain. The NFT issue has a cover essay by Andrew Chow, editor of TIME’s Into the Metaverse magazine, on Vitalik Buterin’s fight for the future of Ethereum.
–timemagazine pic.twitter.com/9BweCJYA56– NFT NEWS PRO (@nftnewspro) March 19, 2022
This edition will be hosted on the blockchain and will be designed to allow readers to view the entire magazine through an interactive NFT.
This announcement follows a singular first year for TIME in the Web 3 space, having launched TIMEPieces in September 2021. The Genesis collection included works by over 40 artists, spanning multiple disciplines. TIMEPieces was followed by a second collection entitled “Long Neckie Women of the Year” by artist Nyla Hayes.
To date, TIME has reportedly generated over 10 million in revenue from these activities, and has created “a passionate community of over 25,000 collectors”. More than 5,000 NFT holders have also connected their wallet to TIME.com to access the site. Keith A. Grossman, president of TIME, said:
“As TIME continues to push the boundaries of what’s possible in the web3 ecosystem, producing the first-ever full-length magazine on blockchain seemed like a natural extension for our brand and we knew this issue, in particular, would be cherished by our community.”
