“In the metaverse: The coming digital era will change everything”, is the headline on the new cover of the August issue of Time magazine.
Time, one of the first global publications to experiment with cryptocurrencies and blockchain technology, has chosen a cover dedicated to the Metaverse for its next edition, corresponding to the month of August.
Time shared the cover of its upcoming issue on Twitter, featuring an illustration alluding to the Metaverse by graphic designer Micah Johnson.
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The word “Metaverse” has been cited 1.100 times before the SEC this year, according to Time
The author of “Into The Metaverse: And How It Will Revolutionize Everything” From Time, Matthew Ball, who is managing partner of the venture fund Epyllion, wants to explain what the metaverse is and how this innovation, an almost century-old idea, is being redefined with current technological evolution.
Ball said that companies from all niches and industries, from the world's largest technology companies, such as Microsoft, Apple, Meta and Nvidia, to the most recognized fashion brands, such as Nike, Adidas and Gucci, among others, are approaching the Metaverse.
According to Ball, this year The word “metaverse” has appeared more than 1.100 times in regular presentationslatorias before the SEC in the United States, which reveals the growing interest that currently exists in the virtual world.
Last year, the number of times the word metaverse was cited in regulatory filings was 260 times, according to the SEC; while in 2020 this number did not even reach a dozen.
However, the work that companies around the world have been doing in technology, investments and infrastructure related to the Metaverse remains almost unknown to a large majority, the author noted, indicating that society in general still perceives the metaverse as a simple game.
Therefore, from their new edition, both Time and Ball aim to clarify the basic concepts surrounding the Metaverse and explain how this technology transcends the social and gaming spheres and is becoming an important driver for the medical, education, tourism and urban development industries, among other sectors.
Time and its entry into the crypto world
In November of last year, Time signed an alliance with the company Galaxy Digital to create a weekly newsletter, completely dedicated to the metaverse.
Time's goal, through this newsletter, is to educate its millions of readers about the Metaverse and new technologies.
Galaxy Digital founder and CEO Mike Novogratz said that The metaverse will become an increasingly important part of the global economy in the next decade, so their goal together with Time is to demystify the myths surrounding this innovation and explain its exciting potential for the future.
Time magazine's other forays into the crypto world involve NFTs. In March of last year, Time auctioned off three covers as non-fungible tokens, and in August, it partnered with the NFT project Cool Cats to launch a crypto collection of digital kittens.
In April, Time began accepting Bitcoin payments for its subscriptions, and later in November, it added Ethereum to its corporate balance sheet.
Last month, Time opened a cultural hub on Ethereum-based The Sandbox platform to provide its community with a digital space to host social gatherings and meetups, exhibit and trade digital art, develop new experiences, and interact with others from anywhere.
This digital cultural center is aimed at the NFT community built through the community initiative TimePieces, focused on new technologies and Web3.
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