Still in the pandemonium of the launch of ApeCoin, TIME, the New-York based news magazine and publisher, has announced that APE will be accepted as payment for its digital subscription services.
Apecoin is a utility and governance token issued by the Apecoin DAO to Bored Ape and Mutant Ape NFT holders. Since claiming of APE began on March 17, it has become the most traded NFT token among Ethereum whales.
TIME Magazine Continues its Crypto Voyage
In April 2021, TIME Magazine announced that it will accept BTC, XRP, ETH, and DOGE for its digital subscriptions services. Now the American news magazine has announced that its users can also pay with the newly issued ApeCoin (APE).
According to TIME, in the coming weeks, its users will be able to pay for digital subscriptions services in the coming weeks.
Early Success for ApeCoin
Before TIME Magazine announced that it would accept ApeCoin, E11EVEN Residencies in Miami and SaltWater Brewery had announced their intentions to accept APE as payment for their products.
Yuga Labs, the creators of the Bored Apes Yacht Club has also teased the launch of a metaverse that would be powered by ApeCoin.
On the Flipside
- Despite the early support ApeCoin has received, the price of the token has been on a freefall. From its ATH of $39.4 on March 17, APE now trades at $10.19.
The five days price chart of ApeCoin (APE). Source: Tradingview
Why You Should Care
The early support received by ApeCoin could help the project break the norm of airdrop tokens losing their entire value shortly after launch.