Time magazine has announced that it will start accepting ApeCoin, the Ethereum-based currency issued by the creators of the Bored Ape Yacht Club pool of non-fungible tokens, in the coming weeks, according to an announcement posted on Twitter.
The publication announced that it would initially pay for digital subscriptions with Bitcoin and other cryptocurrencies, including Ripple, Ether, and Dogecoin, last April.
And Time magazine sold some of its memorable vintage covers as non-expendable tokens last year. He also agreed to keep Bitcoin on his balance sheet after partnering with Grayscale, a subsidiary of Digital Currency Group.
In December, the magazine chose Tesla CEO and Dogecoin billionaire Elon Musk as its Cover Person of the Year.
Earlier this week, the 98-year-old magazine published its first publication as an NFT partner. Vitalik Buterin, the founder of Ethereum, expressed his main concerns about the cryptocurrency industry, stating that it could turn into a dystopia ruled by nefarious and overzealous actors.
The much talked about cryptocurrency was delivered to the owners of the Bored Ape Yacht Club on Thursday.
It has also started trading on major cryptocurrency exchanges like Binance and Coinbase. The cryptocurrency faded during the first hours of trading: after rallying to $39.40, it crashed to $8.90.
The cryptocurrency remains highly volatile. According to data provided by CoinMarketCap, it has fallen by 25.23% in the last 24 hours and is currently trading at $10.42.
It currently has a market cap of $2.9 billion, making it the 46th largest in terms of market cap.