Time Magazine is going to accept ApeCoin

Alex Dovbnya

Millions of Time Magazine subscribers will be able to pay with the red-hot ApeCoin in the near future

Time Magazine has announced that in the coming weeks it will start accepting ApeCoin, the Ethereum-based token released by the makers of the Bored Ape Yacht Club collection of non-functioning tokens, according to an announcement posted on Twitter.

The iconic publication initially made it possible to pay for digital subscriptions with Bitcoin and other cryptocurrencies last April, including XRP, Ether and Dogecoin.

A year ago, Time magazine also auctioned off some of its most memorable covers as non-replaceable tokens. It also agreed to keep Bitcoin on its balance sheet after partnering with Grayscale, a subsidiary of Digital Currency Group.

In December, Time Magazine named Dogecoin attorney Elon Musk the Person of the Year.

Earlier this week, the 98-year-old publication published its first issue as NFT. Ethereum co-founder Vitalik Buterin graced the cover. In an extensive interview, the programmer outlines his main concerns about the crypto industry and claims that it could turn into a dystopia ruled by nefarious overzealous actors.

The much-discussed cryptocurrency was dropped to the owners of Bored Ape Yacht Club on Thursday.

It also started trading on major cryptocurrency exchanges such as Binance and Coinbase. The token got confused during the first hours of trading: after jumping to $39.40, it then crashed to $8.90.

The cryptocurrency remains highly volatile. According to data from CoinMarketCap, it is down 25.23 percent in the past 24 hours and is currently trading at $10.42. The Ethereum-based token is currently valued at $2.9 billion, making it the 46th largest cryptocurrency by market cap.

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