TIME Magazine is getting more involved with cryptocurrencies and NFTs by building TIME Square in the metaverse with blockchain-based gaming company The Sandbox.
Making a digital version of Times Square
The project was based on the “virtual spirit and energy” of the Times Square neighborhood in New York City, according to the official announcement.
Times Square is a famous cultural center, business intersection, tourist destination, and neighborhood in Midtown Manhattan, New York, United States. People call this area “the heart of New York” and “the crossroads of the world” because of the huge, brightly lit billboards there.
TIME is planning to do something similar in the metaverse. The media company will be able to build TIME Square on its virtual land in The Sandbox thanks to the partnership. This will be TIME’s first metaverse destination since it joined the NFT space last year.
Becoming the Metaverse’s Heart
In September 2021, the famous media company launched TIMEpieces, an NFT community project that showcases the original artwork of more than 40 important artists. At the moment, there are four NFT collections in the community. They are called Genesis, Inspiration, Long Neckie Women of the Year, Slices of TIME, and Beatclub Collection.
Keith A. Grossman, who is the president of TIME, says that the company’s goal is to create a virtual world that will become the “heart of the metaverse.”
“We want to make a place that will be the center of the metaverse. Since TIMEPieces came out in September 2021, we’ve been working on building a community in Web3 that can take advantage of the amazing 100-year legacy and access that TIME has built,” he said.
A bridge made of rock
TIME Square will be a place where anyone with a TIMEPiece can share unique experiences, like going to meetings and events put on by TIME Studios for educational and fun reasons.
Grossman also said that TIME Square would be a “natural bridge” between the company’s virtual community, historical coverage, global relationships, and real-life events.
The co-founder of The Sandbox, Sebastien Borget, had this to say about the partnership:
“By partnering with TIME, we’re adding TIMEPieces as the beating heart and soul of this virtual Manhattan. TIME Square, a place in our creative metaverse for brands and creators, will host a design call for virtual architects.”