Polygon is partnering with neo-banking app Hi and Mastercard to launch the first personalized NFT debit card. Holders of the new card will be able to spend their crypto and accumulate Spend Rewards of up to 10%.
Polygon with Hi and Mastercard to launch personalized NFT debit card
Ethereum’s second layer, Polygon, is partnering with neo-banking app Hi and Mastercard to jointly launch the new personalized NFT debit card. Here is Hi’s announcement:
Today, we're so proud to announce our collaboration with @PolygonStudios, allowing users to easily generate an NFT, using their favorite image, to customize a Debit Mastercard.
The best part? It’s a gasless minting experience.
Go to 🔗 https://t.co/8qgW2SA0DZ pic.twitter.com/gcWjOs6XfL
— hi | Web 3 Neo-Banking (@hi_com_official) December 19, 2022
Basically, Polygon wallet holders will be able to personalize their new Mastercard debit card with a favorite image, in the NFT format. Not only that, the card will be able to be used to spend cryptocurrency and fiat at more than 90 million Mastercard merchants scattered around the world.
Another additional service for holders of the new NFT debit card residing in Southeastern Europe (SEE) and the United Kingdom is to earn Spend Rewards of up to 10%, getting discounts on up to 15 digital subscriptions.
To enter, simply download the Hi app and create a free account, select the Silver or higher card level, and choose the NFT with which to personalize your card.
Polygon with Hi for Mastercard’s new NFT debit card
Polygon‘s involvement in the collaboration supports the mint of NFTs for the new debit card, which will be done free of charge. This means that program participants will not have to pay any transaction gas fees.
In this regard, Sean Rach, Hi’s co-founder, said:
“The team at Polygon are true blockchain pioneers, we are delighted to be partnering with them to explore new frontiers of Web3, particularly in the banking and payments space.”
Last September, Mastercard and Hi had already partnered, releasing the first customizable NFT debit cards, narrowing the field for blue-chip collections such as Bored Ape Yacht Club and CryptoPunks.
Much like at that time, enrollment to obtain the NFT debit card is now achieved by staking one’s Hi tokens.
And indeed, at the time of writing, the HI token is worth $0.022, while subscriptions start from staking 10,000 HI for Silver (the equivalent of $220), 100,000 HI for Gold (the equivalent of $2,200), 1 million HI for Platinum (the equivalent of $222,000), and finally, 10 million HI for Diamond (the equivalent of over $2 million).
Everyone crazy about Polygon
The present collaboration is just the umpteenth in a long series involving the Polygon blockchain, precisely with regard to NFTs.
In December alone, Polygon was chosen by former US President Donald Trump for his NFT collection of digital cards showing him as a superhero, astronaut and more.
Not only that, LGND and Warner Music have also joined Polygon’s list of partners to create the LGND Music platform dedicated to NFT collectibles from artists selected by WMG. The new platform will be launched in January 2023.
Ethereum’s second-layer blockchain was then also chosen in the past by Reddit to give its users the ability to mint collectible avatars on Polygon. The result was crazy, earlier this month, it seems that the mint set a record and the number of Reddit NFT holders went from 3.5 million to 4.5 million in just over a month.