Time Magazine to Accept ApeCoin for Digital Subscriptions

Time Magazine has announced that it will begin accepting ApeCoin (APE), an Ethereum-based token released by the founders of the Bored Ape Yacht Club NFT collection, in the coming weeks, according to an announcement published on Twitter. 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 The Ethereum-based token was launched on Thursday in “airdrop,” where certain groups of crypto holders automatically receive tokens as a reward. It also started trading on major cryptocurrency exchanges such as Binance and Coinbase. The token went chaotic during the first hours of trading, after bouncing to $39.40 then crashing to $8.90. According to data from CoinMarketCap, $APE is currently down 8 percent over the last 24 hours and is currently trading at $10.71 with a market cap of $2 billion. TIME Betting Big on Crypto and NFTs Time Magazine initially made it possible to pay for digital subscriptions with Bitcoin and other cryptocurrencies, including XRP, Ether and Dogecoin, last April. After partnering with Grayscale, a subsidiary of Digital Currency Group, it also committed to hold Bitcoin on its balance sheet. A year ago, the iconic publication also auctioned off some of its most memorable covers as non-fungible tokens. Earlier this week, the 98-yea...