Millions of Time Magazine’s subscribers will be able to pay with the red-hot ApeCoin in the nearest future
Time Magazine has announced that it will begin accepting ApeCoin, the Ethereum-based token issued by the creators of the Bored Ape Yacht Club non-fungible token collection, in the coming weeks, according to an announcement posted on Twitter.
The iconic publication initially made it possible to pay for digital subscriptions with Bitcoin and other cryptocurrencies, including XRP, Ether and Dogecoin, last April.
A year ago, Time Magazine also auctioned off some of its most memorable covers as non-fungible 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 advocate Elon Musk its person of the year.
Earlier this week, the 98-year-old publication released its first issue as NFT. Ethereum co-founder Vitalik Buterin graced his cover. In an extensive interview, the programmer lays out his main concerns about the crypto industry, saying it could turn into a dystopia ruled by nefarious and overzealous actors.
The much-talked-about cryptocurrency was airdropped to the owners of Bored Ape Yacht Club on Thursday.
He also started trading on major cryptocurrency exchanges such as Binance and Coinbase. The token went haywire for the first few hours of trading: after bouncing to $39.40, it then crashed to $8.90.
The cryptocurrency remains highly volatile. According to data provided by CoinMarketCap, it is down 25.23 percent over the last 24 hours, currently trading at $10.42. The Ethereum-based token is currently valued at $2.9 billion, which makes it the 46th biggest cryptocurrency by market cap.
Apecoin DAO Airdrops Tokens to NFT Owners, Forms Ape Foundation
There is a new crypto token among the existing 13,243 cryptocurrencies and it is already positioning itself in the top 100. Apecoin (APE) was launched after the creation of a decentralized autonomous organization called Apecoin DAO, initiated by the firm Yuga Labs . According to the non-fungible token (NFT) startup, the Apecoin DAO will be managed by the board members. Additionally, the formation of an Ape Foundation has been constructed in order to help manage the governance process of the DAO.
“Apecoin is owned and operated by Apecoin DAO, a decentralized organization where each token holder can vote on the governance and use of the Ecosystem Fund,” the social media account dubbed Apecoin Noted Wednesday in a Twitter thread. “Holding apecoin is the only requirement to become a member of the Apecoin DAO. The DAO is supported by Ape Foundation, which was established to act as the legal steward of apecoin and administer decisions made by the community Apecoin DAO. (Basically, someone has to sign the checks.)”
Additionally, the team said that 62% of the total apecoin supply (APE) will be “allocated to the Apecoin community,” and 15% was initially distributed at 8:30 a.m. (ET) Thursday. “The airdrop claim consisting of 15% of the total supply of apecoin will be made available to [Bored Ape Yacht Club] Holders of NFT (Bored Apes and Mutant Apes, as well as BAKC dogs paired with BAYC or MAYC).
