TIME magazine to hold ether (ETH) on its balance sheet as part of a deal with Galaxy Digital to educate readers about the metaverse, according to a report by Coindesk on Thursday.

  • Under the partnership deal, the magazine will be unveiling a TIME 100 Companies list for the metaverse and publishing a weekly newsletter known as Into the Metaverse.
  • The agreement is fully financed through the ether that Time will continue to hold in its balance sheet.
  • TIME has owned bitcoin since April, after receiving payment with the biggest cryptocurrency for the deal signed with Grayscale.
  • Investment firm Galaxy Digital has invested nearly $150 million on entertainment initiatives via its Galaxy Interactive unit that raised another $325 million in October for additional investments in the sector.

The magazine will also contain educational resources on the metaverse on their new webpage known as TIME for learning, set to be unveiled in December. ETH USD down -2.15%