Mastercard Launches NFTs Debit Cards

Mastercard Launches NFTs Debit Cards.

In a new initiative, MasterCard has offered customizable non-fungible token (NFT) debit cards. This will allow cardholders who own avatars from selected NFT collections to tailor their payment cards accordingly.

“NEWS! Today  @hi_com_official  launches the world’s first debit card featuring NFT Customization, allowing cardholders to personalize the face of their card with an NFT Avatar,” tweeted MasterCard.

Making an Accessible Payment

By partnering with the European crypto exchange “hi” on Sept. 26, “Gold” members can personalize their debit cards with NFTs that they own.

“As consumer interest in crypto and NFTs continues to grow, we are committed to making them an accessible payment choice for the communities who wish to use them,” said  Senior Vice President, Crypto and Fintech Enablement at Mastercard, Christian Rau. 

Related: Apple Now Allows In-App NFT Sales But Not Everyone Is Pleased, Here’s Why! 

“We are proud to be working with him to continue to drive innovation in the market and enable these customizable cards together with the safety and security you’d expect from Mastercard,” added the senior vice president. 

The Card Allows Holder to Spend in Fiat money and Other Digital Assets

Using the cards, users can spend fiat money, stablecoins, or any cryptocurrency they hold, and they’re accepted anywhere Mastercard is accepted.

The co-founder of Hi, Sean Rach said “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.”

Certain membership levels also offer hotel credits, cash back incentives, and rebates on Netflix and Spotify subscriptions.

CryptoPunk, Moonbirds, Goblintown, Bored Ape, and Azuki are among the limited NFT collections that will be supported; owners of these NFTs will need to be Gold members and verify their ownership on the platform before receiving their custom cards.

Moreover, the cards are only available in 25 countries within the European Economic Area (EEA) and the United Kingdom.

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Jamilatul Mahmudah

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