TIMEPieces generates profits, buzz

Written By Aira De Guzman

Edging nearer its 100th birthday, media giant TIME has bet big on the future of NFTs, spinning up TIMEPieces in the past year. Keith Grossman, the president of TIME, has invested heavily, and since September, TIMEPieces has dropped more than 20,000 NFT resulting in a $10M profit and $600k for charities.

Grossman is uniquely positioned to make NFTs more mainstream since he has one foot planted in a centuries-old company and the other firmly in the future. TIMEPieces has auctioned renderings of their most famous cover stories adding its signature red frame to each NFT.

Token holders have unlimited access to TIME content and exclusive invitations to events. TIME already has an extensive photography collection and is adding digital art from 89 emerging Web3 artists. Famous names are on both sides. According to TIMEPieces, collectors include Anthony Hopkins, Eva Longoria, and Miguel, while artists include Farokh Sarmad, Joanne Hollings, and Julie Pacino, daughter of actor Al Pacino.

Grossman continues to expand the vision. Recently the company created TIME Square, a metaverse to serve as the central location for hosting virtual events. TIME reached out to Ethereum-based gaming platform The Sandbox to create TIME Square, leaning on its knowledge of blockchain and digital sales.

This partnership got the attention of analysts.

“The more mainstream brands we can get transitioning into Web3, the quicker we can reach mass adoption,” Kieran Warwick, co-founder of metaverse game Illuvium, told The Defiant. “Partnering with The Sandbox is massive news for anyone in the space.”

The Associated Press and the New York Times have also launched NFT collections in the past year. Coca-Cola, McDonald’s, Nike, Gucci, and the National Football League are among leaders in other industries also including NFTs in their marketing strategies. TIME’s Grossman believes that an organization’s online identity is just as important as its physical one. 

 

Ready to subscribe to TIME after hearing all of this? It now accepts 33 cryptocurrencies.

 

 

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