Time Studios on Legacy Media and the Birth of NFTs

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

Grossman stated that an important result of all these initiatives is the “opportunity to harness the great creativity that is emerging within the NFT community and connect it to the great distribution channels that we have already established through TIME Studios.”

One of the artists who has connected with TIME Studios, TIME’s television and film production division, 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 in the Toy Boogers collection.

When Doug was asked by Cointelegraph why he had partnered with TIME to expand the Toy Boogers universe, he said it was an “honor” to do so.

“Time is an iconic company and one that is highly regarded in the NFT community for working collaboratively with artists. Creative direction for the story and art of Toy Boogers will come from myself, and Time Studios will drive 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, Director of Kids & Family at TIME Studios, also commented on the recent launch of the studios’ Kids & Family division, which is developing shows based on NFT’s intellectual property.

“We develop content that expands the vibrant world children live in, sparks their curiosity and inspires them to take action. We want to connect with young people where they are and help them understand and thrive in the world around them.”

And children are already playing their own role within the blockchain community. Last year, a 12-year-old boy from London won nearly $400,000 creating and selling a collection of whale emoji NFTs during school breaks.

Recently, TIME published a weekly newsletter about the metaverse in collaboration with Galaxy Digital that has been made with Ether (ETH).

There has also been a growing number of non-fungible token collections, or NFTs, which have announced plans to create animated television series. From Take My Muffin from 1inch Network and The Red Ape Family from the Bored Apes to the series Stoner Cats by actress Mila Kunis and the production of Lil’ Heroes by EXILE.

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