Time to leverage NFTs for future magazine subscriptions
After making various doubles non-fungible through his community initiatives TimepieceTIME is now looking at implementing an NFT strategy for all future subscriptions to its infamous magazine
The change in distribution structure will see all subscription timepieces move to NFT, from which users will be granted verified subscription rights, as well as the ability to own their data. The latter relates here to the company president’s concerns Keith Grosswho expressed his concern that consumers are being transformed into mere commodity ‘tenants’ from which data is being extracted.
While sound on the surface, the innovative concept inevitably comes with some skepticism, most importantly in terms of price. This is because the idea is basically already underway, as the previous four TIMEPiece NFT drops, which collectively have an average asset value of $1,000, already offer holders magazine subscription rights and exclusive invitations to certain events. In comparison, those who use crypto to make a purchase Digital subscription Magazine (something that started in March) only costs $24.
For now, Gross, as well as the company as a whole, has yet to attribute a price structure to the new concept. However, we can probably guess that this might be the huge side given that Gross Timepiece has tried to defend the NFT’s $1,000 price tag by saying that such assets establish a strong relationship with the magazine as opposed to simply buying it by fiat. or crypto.
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