TIME Is Leading Legacy Media Into NFT With TIMEPieces

Since TIME unveiled TIMEPieces on September 22, 2021, the firm has dropped over 20,000 pieces of nonfungible tokens (NFT).

Keith Grossman, the president of the American news magazine and news website TIME, has been working tirelessly on the firm’s NFT business, TIMEPieces, over the last year. Since then, it has gained the massive attention of various celebrities like Eva Longoria, Miguel, and Welsh actor Anthony Hopkins.

Holders of the TIMEPieces have unlimited access to connect their digital wallets to TIME’s website. With these powers, they will enjoy exclusive invitations to physical and virtual events and unlimited access to TIME content.

Furthermore, owners have access to various exclusive digital experiences. Photography is among the popular tokes within the TIMEPieces collection. Others include digital art from some 89 emerging Web3 articles, including the daughter of actor Al Pacino, Farokh Sarmad, and many others.

TIMEPieces NFT Collection

TIME adds its iconic red frame on each of its cover pages to every NFT these artists create within the TIMEPieces collection. D.W. Pine, TIME’s creative director, gathered these artists to develop NFT for TIMEPieces. As TIME keeps working towards its 100 years of publishing, Grossman has referred to the emerging artists as the “next generation of artists.” Interestingly, the media behemoth is nearing a century in the publishing business.

Since TIME introduced TIMEPieces on September 22, 2021, the firm has dropped over 20,000 pieces of NFT. At the time of that launch, the firm released a collection of more than 4,500 original NFTs. The token featured more than 40 artists and began selling on September 23, 2021.

Based on the statement by the president, nearly 12,000 digital wallets own TIMEPieces NFTs, and 50% of these wallets are connected to the firm’s website. In that context, TIME recorded a $10 million profit and generated $600,000 for charities.

In recent months, the nearly-a-century-old publisher partnered with The Sandbox gaming platform. The two came together to develop a virtual space in the metaverse known as the TIME Square. After that, TIME can host its virtual events at the TIME Square.

The Sandbox has made a name for itself so far in the metaverse space, being one of the biggest projects with a market capitalization of $1.5 billion. A virtual plot in The Sandbox made the highest-paid digital land selling for $4.3 million to Republic Realm. Keith Grossman concluded:

“As this new technology was getting adapted, one camp emerged around the notion of building a community that had a set of values and principles. And another emerged around what I would call ‘greed-based communities.”