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Putting TIME into Web3

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Putting TIME into Web3

Source: news.google.com

Keith Grossman is optimistic about bringing Web3 to mainstream media.

Having previously served as COO of Engine, chief revenue officer of Bloomberg Media and publisher of WIRED, he joined TIME magazine as president in July 2019, making significant strides in bringing the 99-year-old publication into the Web3 space.

After launching TIMEPieces in September 2021, a collection of non-fungible tokens, or NFTs, featuring magazine issues, historical moments, and artwork that has amassed over 60,000 community members and 14,504 trade volume ETH, approximately $18,414,133, Grossman sought to expand beyond NFTs to build TIME’s largest Web3 strategy in 2022.

Last year, he helped create an Intellectual Property (IP) division within TIME Studios, focused on the Web3 entertainment strategy. In July, she partnered with children’s entertainment studio Nelvana to produce two new shows featuring the work of NFT artists Pablo Stanley and Wil Lee.

Grossman also helped launch TIME’s B2B wing, aimed at supporting companies making the transition from Web2 to Web3.

In its first initiative, the publication announced a partnership with Miami Mayor Francis Suarez in July to help bring the Florida city to Web3 through a 5,000-unit NFT collection created by local Miami artists. TIME has also partnered with fintech firm Salesforce to facilitate minting and credit card company Mastercard to provide exclusive event benefits for token holders through its Priceless Miami program.

TIME also supported crypto company Galaxy Digital in launching its first NFT collection, launching a 3,000-unit collection inspired by the company’s logo in October.

Outside of TIME, Grossman has brought Web3 to other facets of his life. He has served as a board member of the nonprofit New York Cares since 2018 and helped raise $200,000 for the organization through an AI-powered NFT sale in October of this year.

In late November, shortly before this feature went to print, Grossman announced that he would be leaving TIME to become president of crypto-payments company Moonpay starting in 2023. Grossman will not be president when the publication turns 100 next year, but he will told CoinDesk that he is confident TIME will continue to lead the major media brands as it expands its Web3 initiatives.

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