TIME Magazine partners with Galaxy to educate readers about the metaverse

TIME — the media company behind the nearly 100-years-old magazine — is expanding its footprint in the crypto market through a partnership with Mike Novogratz's Galaxy Digital to deliver more content on the metaverse to its readers. 

TIME announced on Thursday that it would launch the TIME100 Companies Metaverse category, joining a family of lists produced by the firm highlighting the most influencial companies and people in the world across industries. The new list, which will be commissioned by Galaxy, will feature builders in the metaverse — a corner of the market that's captured the attention of the broader public since Facebook announced it would change its name to Meta.

As part of the partnership, TIME will host educational resources on its website and launch a new metaverse-focused newsletter. It will lean on Galaxy's in-house metaverse expert for insights.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

TIME's latest foray into the metaverse speaks to the degree to which virtual-based worlds could bring new ways for media companies to engage with their audiences, according to Galaxy. 

"Today it is hard to image the impact the metaverse will have on commerce, content, or community," a Galaxy spokesperson noted in an email to The Block. "One thing we know is that immersive virtual worlds will eventually impact every sector of the economy."

Today, blockchain-based metaverses like Cryptovoxels and Decentraland allow users to congregate virtually and hold events. In the future, TIME could funnel content through those types of channels. 

"As we think about our own evolution into the metaverse over time - especially as we look toward our 100th Birthday in 2023 - our goal will be to provide experiences that meet the expectations within the ecosystems rather than simply replicating what people know in the physical world," TIME president Keith Grossman told The Block. 

About Author

Frank Chaparro is the Editor At Large at The Block. Chaparro started his career at Business Insider, where he specialized in the intersection of digital assets and Wall Street, market structure, and financial technology. Soon after joining Business Insider out of Fordham University, Chaparro was interviewing top finance and tech executives, including billionaire Mark Cuban, “Flash Boys” star Brad Katsuyama, Cboe Global Markets CEO Ed Tilly, and New York Stock Exchange President Tom Farley. In 2018, he become a sought after reporter in the crypto world, interviewing luminaries such as Tyler Winklevoss, the cofounder of Gemini, Jeremy Allaire, the CEO of Circle, and Fundstrat head Tom Lee. He runs his own podcast The Scoop and writes a biweekly eponymous newsletter. He leads special projects, including The Block's flagship podcast, The Scoop. Prior to The Block, he held roles at Business Insider, NPR, and Nasdaq. For inquiries or tips, email [email protected].