Mastercard has launched the first NFT card with the Hi crypto app. CryptoPunks, Moonbirds or even BAYC are among the (rare) collections supported.
Hi is a crypto app launched in July 2021. It manages, receives and sends your money and cryptos without requiring any knowledge of the blockchain and for which you only need a messaging app.
On the other hand, MasterCard refers to a payment card, like other bank cards such as Visa or American Express. Depending on the country and the customer, it can be a credit card or a debit card, with immediate or deferred debit. Mastercard is accepted at nearly 30 million merchants in over 220 countries, making it one of the top three in the world.
Interestingly, MasterCard had been taking the cryptocurrency business very seriously for some time. Indeed, last August, CEO Michael Miebach announced a partnership with Binance to allow people to use their cryptos to make purchases at the more than 90 million businesses that accept MasterCard.
About a month after this partnership with Binance, Mastercard is launching another project on NFTs, this time with the Hi app.
Mastercard, making it easier to buy NFT
Thanks to the partnership with Hi, Mastercard’s mission is to facilitate the purchase of NFTs. The American giant also participates in their democratization through various initiatives.
Sean Rach, the co-founder of hi, expressed his enthusiasm about its latest development:
Not only are NFT cards amazing, but it’s 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 cryptos, combined with attractive financial rewards […] makes us confident that our card is a game changer in the market.”
On Monday, Hi announced the launch of a payment card with “NFT avatar personalization” in collaboration with Mastercard.
Christian Rau, senior vice president, Crypto and Fintech at Mastercard added:
As consumer interest in crypto and NFTs continues to grow, we are committed to making them an accessible payment choice for communities who want to use them. We are proud to work with Hi to continue to drive innovation in the market and enable these customizable cards with the safety and security you expect from Mastercard.”
Hi’s European customers can now order debit cards featuring their favorite NFT. However, only a few collections of tokens will be able to appear on the cards: CryptoPunks, Moonbirds, Goblins, Bored Ape Yatch Club or Azuki, according to a press release. It should also be noted that only members with gold status have access to this service.