Clubhouse Influencer WOLFxLION AKA Jin Yu Hosts Historic TIME Magazine NFT Drop - WFMZ Allentown

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LOS ANGELES, March 29, 2021 /PRNewswire/ -- TIME auctioned off three NFTs that were inspired by some of their most iconic covers. Clubhouse influencer Jin Yu aka WOLFxLION and NY Times Best-selling Author Rahaf Harfoush hosted and moderated the event along with TIME Magazine President Keith Grossman. The 4 NFTs sold for approximately $435,600 total. The collection was listed on the exchange SuperRare and began on Wednesday, March 24 at 8 PM ET.

This is an exclusive series of three incredibly prescient TIME covers, including one of the most iconic covers in TIME's 98-year history, and the first-ever cover designed exclusively as a NFT. NFT stands for non-fungible token, which means that it is unique and cannot be replaced with anything else. Recently, NFT's have generated millions with a $69.3 million sale by Beeple, a $6.6 million sale by Grimes and $11.6 million sale by 3LAU.

The room began with a talk by Keith Grossman, the President of TIME, outlining the history of TIME and how they are innovating the collectible industry powered by the provenance of the blockchain in the form of NFTs. TIME will begin to accept crypto currency as payment for digital subscriptions and will even be paying its employees in crypto as an option. TIME is currently looking for a CFO who has a comfort level with crypto and blockchain.

"Jin aka WOLFxLION played an integral role in the TIME community's launch on the Clubhouse platform, which coincided with a historic NFT drop. Not only did he help moderate our community's first session, he also advised us through the experience and graciously opened his network of high-profile Crypto Art collectors to TIME. It was through his guidance and his network that TIME was connected with Amir, who invested in all three covers for 276 ETH ($383K). Jin went above-and-beyond as a partner and, I personally appreciated everything he has done to help ensure TIME's success. He is an incredible individual and his support and partnership will always be appreciated," said Keith A. Grossman, President, TIME

SuperRare CoFounder & CEO John Crane joined the conversation by talking about how SuperRare curates its items to be auctioned. He also talked about the historical anecdotes of the TIME NFTs. The NFTs sold represent famous TIME covers including a cover that said, "Is God Dead?" "Is Truth Dead?" and "Is Fiat Dead?"

Jin Yu is the CoFounder of VEZT.co, the world's first blockchain royalty marketplace, and the Talk Nerdy to Me Room on Clubhouse which has 170,000 members. "I have hosted Howard Marks, Co-Founder of Activision, Kevin Lin, Co-founder of Twitch, Bob PIttman, CEO and Chairman of iHeartMedia, Pete Cashmore, Founder of Mashable, Marc Randolf, Co-Founder of Netflix, Zac Posen, Chriselle Lim, Jake Paul and many more. We dropped the Pussy Riot NFT sale and took it from $20,000 to $187,000 in two hours. Pussy Riot is a Russian feminist protest punk rock and performance art group based in Moscow that was named TIME Magazine Women of the Year," says Yu.