Partnership includes launch of new TIME100
Companies Metaverse category presented by Galaxy Digital.
As part of the partnership, TIME agreed to
accept and hold ETH on its balance sheet for the first
time.
NEW YORK, Nov. 18, 2021 /CNW/ - Galaxy Digital Holdings
Ltd. (TSX: GLXY) ("Galaxy Digital" or the "Company"), the
preeminent global provider of digital asset financial services for
institutions, and its affiliate Galaxy Interactive, today announced
a first-of-its-kind partnership with TIME, commencing with the
launch of the newly created TIME100 Companies Metaverse
category, featuring entrepreneurs building a more immersive virtual
future.
Designed to educate its readers on the rapidly expanding and
evolving metaverse, the Galaxy-TIME partnership will include a new
weekly TIME newsletter, 'Into the Metaverse,' written by
Andrew Chow. The newsletter will
explore the ways our physical and digital selves are becoming
increasingly intertwined, highlight communities that are rapidly
emerging in new virtual worlds, and engage with leaders at the
forefront of the transformations in business, innovation, and
culture taking place within the metaverse.
"Over the next decade, the metaverse will become an increasingly
important part of the world economy; our physical and digital
realities are already becoming hard to distinguish," said
Mike Novogratz, CEO and Founder of
Galaxy Digital. "We look forward to partnering with TIME, an iconic
brand driving innovation, as we seek to bring readers, creators,
and the curious into the metaverse and demystify the tremendous
amount of transformation happening within."
TIME will host additional educational resources on the metaverse
via its new TIME for Learning page, slated to
launch in December as part of the partnership. TIME will leverage
Galaxy Digital's deep expertise in virtual worlds to assist in
explaining the metaverse and its exciting potential for the future,
including insights from Sam
Englebardt and Richard Kim,
General Partners of Galaxy Interactive, an offering of Galaxy
Digital, focused on investing in companies operating at the
intersection of content, finance, and technology.
"Before we can build the metaverse, we need to define it, since,
today, the word connotes vastly different things to different
people," said Sam Englebardt. "So,
with our partners at TIME, our first objective is to create a
shared lexicon and understanding of the idea and the opportunities
that are emerging as we become an increasingly digital species and
continue (and accelerate) our ongoing journey from the physical to
the virtual world."
True to its crypto and Web3 focus, Galaxy Digital financed this
partnership with Ether (ETH) — the native cryptocurrency of the
Ethereum blockchain — marking the first time a major media
organization has accepted ETH as payment. Additionally, TIME
Magazine will hold ETH on its balance sheet for the first time.
This payment follows TIME beginning to accept cryptocurrency as a
form of payment for digital subscriptions earlier this year as the
brand continues to expand into the cryptocurrency space. In
March 2021, TIME offered an exclusive
series of three TIME covers as non-fungible tokens at auction,
including one of the most iconic covers in TIME's 98-year history
and the first-ever cover designed exclusively as an NFT.
"Galaxy Digital truly understands the massive growth potential
for the metaverse and Web3, and the team is playing an integral
role in helping to educate the traditional world on this
evolution," said Keith A. Grossman,
President of TIME. "I am so thrilled to partner with such
visionaries as we combine the power of media and the metaverse to
educate our readers and trailblaze towards a more immersive virtual
future."
Entries for TIME100 Companies: Metaverse will be open starting
today November 18, 2021, through
December 31st, 2021. For more
information and to submit a company, visit: HERE.
The first edition of the 'Into the Metaverse' newsletter will
provide readers with an overview defining the metaverse and why
they should care. To sign up to receive Into the Metaverse, visit
HERE.
About Galaxy Digital
Galaxy Digital (TSX: GLXY) is a technology-driven financial
services and investment management firm that provides institutions
and direct clients with a full suite of financial solutions
spanning the digital assets ecosystem. Galaxy Digital operates in
the following businesses: Trading, Asset Management, Principal
Investments, Investment Banking, and Mining. Galaxy Digital's CEO
and Founder is Mike Novogratz. The
Company is headquartered in New York
City, with offices in Chicago, San
Francisco, London,
Amsterdam, Tokyo, Hong
Kong, the Cayman Islands
(registered office), and New
Jersey.
Additional information about the Company's businesses and products
is available on www.galaxydigital.io.
About Galaxy Interactive
Galaxy Interactive, a division of Galaxy Digital, is a
stage-agnostic VC franchise focused on investing in companies
operating at the intersection of content, finance, and technology.
Led by General Partners Sam Englebardt and Richard Kim, Galaxy Interactive has been amongst
the most active videogame and blockchain investors in the world
since its inception in 2018, with over $650
million in AUM and investments in more than 75
companies.
About TIME
TIME is a global media brand that reaches a combined audience of
more than 100 million around the world. A trusted destination for
reporting and insight, TIME's mission is to tell the stories that
matter most, to lead conversations that change the world and to
deepen understanding of the ideas and events that define our time.
With unparalleled access to the world's most influential people,
the immeasurable trust of consumers globally, an unrivaled power to
convene, TIME is one of the world's most recognizable media brands
with renowned franchises that include the TIME100 Most Influential
People, Person of the Year, Firsts, Best Inventions, World's
Greatest Places and premium events including the TIME100 Summit and
Gala, TIME100 Health Summit, TIME100 Next and more.
Disclaimers
The TSX has neither approved nor disapproved the contents of
this press release.
TIME will host additional educational resources on the metaverse
via its new TIME for Learning page, slated to
launch in December as part of the partnership. TIME will leverage
Galaxy Digital's deep expertise in virtual worlds to assist in
explaining the metaverse and its exciting potential for the future,
including insights from Sam
Englebardt and Richard Kim,
General Partners of Galaxy Interactive, an offering of Galaxy
Digital, focused on investing in companies operating at the
intersection of content, finance, and technology.
SOURCE Galaxy Digital Holdings Ltd.