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Time Studios talks legacy media and the rise of NFTs

Time Studios talks legacy media and the rise of NFTs

Cointelegraph spoke to Keith A. Grossman, President at TIME, about the legacy media company’s recent moves into the Web3 space. According to Grossman, TIME seeks to “modernize the relationship our brand can have with its community.” Some of these moves include creating 1:1 NFTs of their flagship magazine covers, the option for digital subscribers to pay in crypto, and the launch of their TIMEPieces NFT project collaborations.

Grossman stated that an important result of all of these initiatives is the “opportunity to tap into the great creativity emerging within the NFT community and connect this with the larger distribution channels we have already established via TIME Studios.”

One artist that has connected with TIME Studios, the TV and film production division of TIME, is Doug, the artist and founder behind the Toy Boogers NFT collection. TIME has agreed to produce and distribute an animated series based on the characters within the Toy Boogers collection.

When Cointelegraph asked Doug why he partnered with TIME to expand the Toy Boogers universe, he said he was “honored” to do so.

“Time is an iconic company and one that is also highly regarded in the NFT community for working with artists in a collaborative way. The creative direction for the Toy Boogers story and art will come from myself, and Time Studios will push forward its development and distribution.”

Distribution and the ability to leverage multiple distribution channels and platforms is the key to growing an NFT community. Listings on multiple marketplaces like OpenSea and Rarible are standard practice but achieving true exposure is something digital artists are still exploring.

Maria Perez-Brown, Head of Kids & Family at TIME Studios, also commented on the studios’ recent launch of the kids and family division that is developing programming based on NFT-native intellectual property.

“We’re developing content that amplifies the vibrant world that kids live in, engages their curiosity, and encourages them to act. We want to meet young people where they are and help them understand and thrive in the world around them.”

Related: ‘The industry will need to have dynamic NFTs,’ says Vivid Labs CEO Halsey Minor

And kids are already playing their own part within the blockchain community. Last year, a 12-year-old boy from London reportedly earned nearly $400,000 by creating and selling an NFT collection of whale emojis during the school holidays.

In recent news, TIME released a weekly newsletter on the metaverse in a partnership with Galaxy Digital that was conducted using Ether (ETH).

There has also been an increasing number of nonfungible token, or NFT, collections which have announced plans to create animated television series. From 1inch Network’s Take My Muffin and The Red Ape Family featuring Bored Apes to actress Mila Kunis’ Stoner Cats series and EXILE’s production of Lil’ Heroes.

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