Mastercard announced the launch of new customizable debit cards that are inspired by non-fungible tokens.
As we have been announcing on behalf of NFTexpress, every day we find news and announcements related to the adoption of NFT. In this case, one of the world’s largest debit and credit card companies announces the launch of a new line of NFT-inspired debit cards.
These new debit cards, which are customizable, will only support NFT characters fromblue-chip collections, but will be subject to the company’s design policies and a subsequent process to verify ownership.
Through this new Mastercard product, certain debit cardholders who are also owners of a top-tier collection NFT will be able to add it to their payment card.
These new cards have been available since September 26, following a commercial partnership with HI, a crypto-asset trading platform that exclusively allows its Gold members to personalize the front of their debit cards with a non-fungible token that they own and can be verified, a procedure made possible by blockchain technology.
The Gold level is available to users who have wagered a minimum of 100,000 HI tokens, which as of this writing is approximately $4600 USD.
But Mastercard announced that the Hi debit card is available in 6 variants, which have a variety of benefits, depending on the membership level. The cards start with the Basic, and continue with the Black, Silver, Gold, Platinum and Diamond versions. This membership is obtained by wagering the Hi token and starts from the equivalent of 10 euros.
Among some of their benefits, they offer:
the reimbursement of expenses between 1-10%;
reimbursement between 1 and 20 digital subscriptions;
fund the card through SEPA or FPS with euros or pounds sterling;
the best rates and advantages in 5-star partner hotels;
and NFT customization for Gold and above members.
Those who have this customizable card will be able to make purchases in FIAT currency, in stablecoins, or any cryptocurrency that they have in their account and can be used in all those places that accept payments through Mastercard.
Other functions that have been added and are being offered, such as hotel credits or cash back, discounts on service subscriptions to international companies such as Netflix or Spotify, among others, are also mentioned.
The news was announced through a publication on the social network Twitter, by the official account of Mastercard Europe, where it announces its link with the HI platform, on September 26, 2022.
When we mention that those NFT collections that are blue chip will be compatible, they are those of first level and with great global adoption, such as CryptoPunk, Moonbirds, Bored Ape Yatch Club, among others. Those users who own any NFT of the supported collections, must be Gold members fulfilling the requirements mentioned above, and then they must verify the ownership of their NFT with the HI platform, to receive the customizable card.
One piece of news that will be good news for some countries, and not so good news for others, is that these customizable cards with NFT designs will only be available in 25 countries in the European Economic Area, and in the United Kingdom.
Beyond the fall of the crypto market in general, we can see how certain NFT collections such as the aforementioned Blue Chip, are revalued every day, with the various benefits that are being announced by hundreds of companies around the world, for those owners of any NFT of these collections.
Written by Luciano Garriga (TW:@luchogarriga) for NFT Express