Partnership commences with launch of weekly newsletter ‘Into the Metaverse’ and the newly created TIME 100 Companies category: Metaverse
Transaction conducted in ETH with TIME to hold ETH on balance sheet, marking a first for a major media company
NEW YORK, November , 2021 – TIME announced a first-of-its-kind partnership with Galaxy Digital Holdings Ltd. (TSX: GLXY) (“Galaxy Digital” or the “Company”), the pre-eminent global provider of digital assets and cryptocurrency financial services for institutions, and its affiliate Galaxy Interactive, which commences with the launch of the newly created TIME 100 Companies category, Metaverse – which calls for submissions from entrepreneurs building the next immersive digital frontier.
Designed to provide education on the rapidly expanding and evolving metaverse, the partnership will include the support of a new weekly TIME newsletter, ‘Into the Metaverse,’ written by Staff Writer Andrew Chow, starting today. The newsletter will explore the ways our physical and digital selves are becoming increasingly blurred, highlight communities that are rapidly emerging in new digital settings, and talk to leaders at the forefront of the business, innovation, and culture taking place within the metaverse.
“Over the next decade, the metaverse will become an increasingly important part of the world economy; our physical and digital realities are already becoming hard to distinguish,” said Mike Novogratz, CEO and Founder of Galaxy Digital. “We look forward to partnering with TIME, an iconic brand driving innovation, as we seek to bring readers, creators, and the curious into the metaverse and demystify the tremendous amount of transformation happening within.”
As part of the partnership, TIME will host additional educational resources on the metaverse via its new Time for Learning branded content page, to be unveiled in December. For this, TIME will leverage Galaxy Digital’s deep expertise in virtual worlds to explain the metaverse and its exciting potential for the future, including insights from Sam Englebardt and Richard Kim, General Partners of Galaxy Interactive, a Galaxy Digital venture franchise focused on investing in companies operating at the intersection of content, finance, and technology.
“Before we can build the metaverse, we need to define it, since, today, the word connotes vastly different things to different people,” said Sam Englebardt. “So, with our partners at TIME, our first objective is to create a shared lexicon and understanding of the idea and the opportunities that are emerging as we become an increasingly digital species and continue (and accelerate) our ongoing journey from the physical to the virtual world.”
True to its crypto and Web3 focus, the transaction was entirely conducted in Ethereum (ETH), marking a first for a major media organization. Additionally, TIME will hold ETH on its balance sheet for the first time. This payment follows TIME beginning to accept cryptocurrency as a form of payment for digital subscriptions in April 2021 as the brand continues to expand into the cryptocurrency space. In March 2021, TIME offered an exclusive series of three TIME covers as non-fungible tokens at auction, including one of the most iconic covers in TIME’s 98-year history, and the first-ever cover designed exclusively as an NFT.
Entries for TIME 100 Companies: Metaverse will be open starting today November 18, 2021, through December 31st, 2021. For more information and to submit a company, visit: HERE.
The first edition of the ‘Into the Metaverse’ newsletter will provide readers with an overview defining the metaverse and why they should care. To sign up to receive Into the Metaverse, visit HERE.
About Galaxy Digital
Galaxy Digital (TSX: GLXY) is a diversified financial services and investment management company dedicated to the digital asset and blockchain technology sectors. Galaxy Digital’s team has extensive experience spanning investing, portfolio management, capital markets, venture capital, asset management, and blockchain technology. Galaxy Digital operates in five synergistic business lines: Trading, Asset Management, Principal Investments, Investment Banking, and Mining. Galaxy Fund Management is the digital asset funds brand of the Asset Management business. Galaxy Digital’s CEO and Founder is Mike Novogratz. The Company is headquartered in New York City, with offices in Chicago, San Francisco, London, Amsterdam, Tokyo, Hong Kong, the Cayman Islands (registered office), and New Jersey.
About Galaxy Interactive
Galaxy Interactive, a division of Galaxy Digital, is a stage-agnostic VC franchise focused on investing in companies operating at the intersection of content, finance, and technology. Led by General Partners Sam Englebardt and Richard Kim, Galaxy Interactive has been amongst the most active videogame and blockchain investors in the world since its inception in 2018, with over $650 million in AUM and investments in more than 75 companies.
TIME is a global media brand that reaches a combined audience of more than 100 million around the world. A trusted destination for reporting and insight, TIME’s mission is to tell the stories that matter most, to lead conversations that change the world and to deepen understanding of the ideas and events that define our time. With unparalleled access to the world’s most influential people, the immeasurable trust of consumers globally, an unrivaled power to convene, TIME is one of the world’s most recognizable media brands with renowned franchises that include the TIME100 Most Influential People, Person of the Year, Firsts, Best Inventions, World’s Greatest Places and premium events including the TIME100 Summit and Gala, TIME100 Health Summit, TIME100 Next and more.
The TSX has neither approved nor disapproved the contents of this press release.
SOURCE Galaxy Digital Holdings Ltd.
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