- Mastercard announced the launch of the world’s first customized non-fungible token (NFT) card.
- It partnered with Hi App to launch the process.
At the start of this year, there was a continuous growth of interest in users for NFTs and digital assets. Now Mastercard has started to expand its business through NFTs. In July, it announced that cardholders could directly buy the NFTs. And the company has collaborated with most leading non-fungible token (NFT) marketplaces to provide direct access to NFT users without having to purchase the virtual assets first.
Recently, Mastercard took another innovative step towards expanding NFTs on its platform. Mastercard partnered with fiat financial app Hi to launch debit cards with NFT profile customization. Eligible cardholders can customize the profile of their debit cards by using their preferred NFTs. Mastercard is also allowing gold users to add some of the popular NFTs to customize their profiles, like CryptoPunks, Moonbirds, Goblins, and Azukis.
The creation of new customized NFT cards allows European Union (EU) and United Kingdom (UK) users to directly deposit checks into Mastercard accounts, and they can easily split fiat currency into their preferred digital currencies.
To get the card, interested users can install the app, complete the sign-up process, and join the waitlist to get the latest upgrades to the app. The users get the membership by staking the “Hi” token with at least 10 euros. To get more benefits from the card, users have to stake more HI tokens.
“These integrations are designed to make crypto more accessible and help the NFT ecosystem to keep growing, innovating, and bringing in more fans.”
There are nearly 2.9 million Mastercard holders across the world. And 90 million traders accept Mastercard payments. This would have a huge positive impact on the NFT platform. In 2021, NFT generated more than $25 billion in cost of sales in art, music, and video games in the Metaverse.
The innovative collaboration of both Mastercard and Hi app will help to ease access to both digital assets and NFTs. It also helps in the rapid growth of the NFT ecosystem.
“We are also applying our full suite of capabilities to reinforce customers’ safety, giving people similar protections to the ones they enjoy when making transactions in a store or online with a MasterCard.”
Source: https://www.thecoinrepublic.com/2022/09/27/the-new-launch-of-customized-nft-cards-was-announced-by-mastercard/