As the recently launched ApeCoin continues to make headlines within the crypto space, Time Magazine has announced that it shall start accepting the ApeCoin (APE) for digital subscriptions in the coming weeks.
Time Magazine made the revelation through a tweet.
Congrats to the ApeCoin DAO on the rollout of @ApeCoin & thrilled we can announce that @TIME will be accepting $APE for digital subscriptions in the coming weeks on https://t.co/tiBU5fsE5B ⏰❤️🍌🦍
— TIMEPiecesᵍᵐ ⏰ (@timepieces) March 20, 2022
The ApeCoin (APE) & its rising popularity
The ApeCoin (APE) is an Ethereum-based token that was launched by the founders of the much-hyped Bored Ape Yacht Club NFT collection on Thursday in an ‘airdrop” where certain crypto holders would automatically receive the token as a reward.
ApeCoin started trading several major exchanges including Binance and Coinbase almost immediately after it was unveiled. In a few hours after its launch, the token went chaotic and shot to a high above $39.00 before crashing to a low of about $8.90.
At the time of writing, ApeCoin was trading at $10.86 after a 6% drop in the last 24 hours.
Time Magazine big bet on crypto and NFTs
Time Magazine has made inroads into the cryptocurrency in the past few years with its most recent development being the last April when it announced accepting its readers to make digital subscriptions using Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), and Dogecoin (DOGE).
Time Magazine also partnered with Digital Currency Group and committed that it shall hold Bitcoin on its balance sheet.
Last year, Time Magazine also auctioned off some of its most memorable covers as non-fungible tokens, and last week it published its first issue as an NFT featuring Ethereum co-founder Vitalik Buterin on its cover.
