TIME Magazine to Collaborate With Cool Cats NFT Project

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In Brief
  • TIME President Keith A. Grossman suggested the collab between the magazine and Cool Cats.

  • Partnership goes hand-in-hand with a meme competition; the winners will receive a randomly-selected collaboration NFT.

  • A total of 400 collaboration NFTs have been minted.

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The Trust Project is an international consortium of news organizations building standards of transparency.

Ethereum-based non-fungible token (NFT) project Cool Cats have announced a team-up with iconic news magazine TIME.

According to a post from Cool Cats, the collaboration came about at the suggestion of TIME president Keith A. Grossman. Mr Grossman, already a supporter of Cool Cats, tweeted that cats were “in TIME’s DNA.”

He accompanied his post with a cover from TIME’s December 7, 1981 issue, on which a cat’s face is emblazoned.

Mr Grossman also stated that the Cool Cats community’s positivity, optimism, and family friendliness were among the top reasons for the collaboration.

Cool Cats’ post revealed the partnership would consist of a limited edition NFT drop.

“We had to create something that showcases the TIME front cover,” they wrote about the collaboration pieces. “What better way to do that than with the four founder Cats…”

They went on to reveal four different digital artworks, featuring the cats reading a TIME magazine. The post stated that Cool Cats have minted a total of 400 artworks, 100 per founder.

Celebrating with a meme contest

This collaboration goes hand-in-hand with a meme competition, open to the Cool Cats community and beyond. Cool Cats will draw a total of eight winners of the contest, which began on August 13, each of which will win one of the four collaboration NFTs. Meanwhile, they will raffle off the remaining 392 to competition entrants afterwards. Those remaining 392 NFTs will only be available to Cool Cats holders. The meme contest will close on August 20th.

Cool Cats ended their post by referring to where they would drop the NFT pieces.

“Ideally, we would drop these pieces on Polygon. However, in light of recent events the security of Polygon has come into question. As such, the team is discussing the best course of action for future drops. This is an ongoing discussion.”

TIME’s history with crypto

TIME Magazine may be nearly 100 years old, but no one can accuse it of being stuck in the past. This year, it has already demonstrated embracing the crypto space, in more ways than one. 

Its collaboration with Cool Cats is not the news magazine’s first foray into the NFT sphere. Back in March, it auctioned off a total of three special edition covers as NFTs. Among them, one of TIME’s most iconic; namely, one published on April 8, 1966, displaying only the words “Is God Dead?” It was the first cover in the magazine’s history to only feature text. The other two covers read “Is Truth Dead?” and “Is Fiat Dead?”

A short time after, TIME also revealed it was accepting crypto for subscriptions. 

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Dale Hurst is a journalist, presenter, and novelist. Before joining the Be In Crypto team, he was an editor and senior journalist at a news, lifestyle and human-interest magazine in the UK. Cryptocurrency was one of the first subjects he specialized in when first going freelance in 2018, reviewing exchanges and analysing lawsuits.

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