Mastercard launches new debit card that allows users to set NFT as avatar
Mastercard has launched a new customizable debit card that allows some cardholders with avatars from select NFT collections to add their artwork to the payment card.
Mastercar's new debit card, made available through a partnership on September 26 with the European crypto platform Hi, allows card "Gold" members to set NFT as their avatar on card. Gold membership with this platform can be obtained by staking a minimum of 100,000 HI tokens, which corresponds to an amount worth approximately 4,600 USD at press time.
The cards will allow users to spend with fiat, stablecoins, or any cryptocurrency they hold, and will be accepted at any Mastercard payment location. Other features like hotel credits, cashback offers, and discounts on Netflix and Spotify subscriptions were also introduced as benefits of certain membership levels.
A limited number of NFT collections will be supported including CryptoPunk, Moonbirds, Goblintown, Bored Ape Yatch Club (BAYC), and Azuki. Owners of these NFTs will have to become a Gold member and verify their ownership of the NFT with the platform to receive custom tokens. In addition, the card is only available in the 25 countries of the European Economic Area (EEA) and the UK.
In fact, with the broader downturn in the crypto market over the past few months, most of the “blue chip” NFT collectibles have seen a sharp drop in price, however, according to NFTGo data, the performance of the NFTs NFT “blue chip” has been growing steadily since September 12th.
On the Mastercard side, the company is becoming a rare global traditional financial giant that is increasingly crypto-friendly for helping to promote more popular crypto payments, especially NFT with its support. enthusiastic support in every way such as partnering with Immutable X, The Sandbox to integrate NFT payments, and partnering with Coinbase to enhance the NFT buying experience.
Sep 27, 2022