Mastercard launches its first NFT debit card
Mastercard launches its first NFT debit card
NFT

Mastercard launches its first NFT debit card

By Vincenzo Cacioppoli - 27 Sep 2022

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Hi, the innovative financial platform for both crypto and fiat, announced two days ago the launch of a new debit card in partnership with Mastercard with NFT personalization, with a number of unique benefits. 

Hi and Mastercard partnership gives birth to first NFT debit card

Eligible cardholders will be able to customize the face of their card with an NFT avatar they verifiably own and spend at more than 90 million locations worldwide where Mastercard is accepted.

This is the first case of a personalized NFT debit card, representing yet another step forward in an industry, which although down slightly from the veritable boom made in 2021, continues to intrigue and interest giants in finance, fashion, sports and technology.

In a blog post dated 25 September, the crypto and fiat app, Hi, confirmed its new partnership with Mastercard to launch NFT customizable debit cards, offering users the ability to design their own cards with NFT avatars. 

In the same post, the company also lists a whole range of benefits such as the ability to get back up to 10% of what they spend or the ability to choose from a hundred digital subscriptions.

Sean Rach, co-founder of Hi, said:

“Not only do the NFT cards look amazing, this is a great way for people to show which online community they belong to, but in the real world. The flexibility to spend fiat, stablecoins or other crypto, combined with attractive financial and lifestyle rewards, makes us confident that our card is a game-changer in the market.”

The features of the new NFT card

The new debit card from the Hi company will give users the opportunity to seamlessly spend both fiat and digital resources, the Hi token, BTC, ETH and USDT, at more than 90 million merchants accepting Mastercard payments.

The new NFT personalized debit card will also enable its members in both the UK and Europe to be able to deposit their salaries directly into their NFT personalized card through their banks and split fiat into their favorite cryptocurrency.

Christian Rau, Senior Vice President, Crypto and Fintech Enablement at Mastercard, said:

“As consumer interest in crypto and NFTs continues to grow, we are committed to making them an accessible payments choice for the communities who wish to use them. We are proud to be working with Hi to continue to drive innovation in the market and enable these customizable cards together with the safety and security you’d expect from Mastercard.”

As detailed on Hi’s website, the new debit card will be available in six variants with a range of benefits, depending on the level of membership that is chosen. 

The Hi token

Membership is obtained by staking Hi’s proprietary token and starts from a minimum equivalent amount of 10 euros.

Hi’s new NFT-branded cards will also have the option to opt for the feature: buy now, convert later. 

This means that it will not be necessary to convert digital assets immediately into fiat. In this way, this applied functionality will allow customers not to miss out on potential returns from the cryptocurrency market.

In June, Mastercard had announced the launch of a service for digital payments to purchase NFTs

This new agreement with Hi represents a further step by the financial giant into the Non-Fungible Token and Web3 ecosystem.

Vincenzo Cacioppoli

Vincenzo was born in Genova but lived most of his life in Milan. He has a degree in political science. He is a journalist, blogger, writer, and marketing and digital advertising expert. After a long experience in traditional marketing, he started working with the web and digital advertising in 2011, creating a company called Le enfants. Passionate about the web and innovation, in 2018 he started exploring the topics related to blockchain technology and cryptocurrencies. Independent cryptocurrency trader since March 2018, he now collaborates with companies in the sector as a content marketing specialist. In his blog. mediateccando.blogspot.com, he has long been primarily focused on blockchain, which he considers to be the greatest technological innovation after the Internet. His first book about blockchain and fintech is scheduled for release in November.

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