Miami City Announces NFT Initiative in conjunction with TIME, Mastercard and Salesforce By BTC Peers

The City of Miami is launching a new NFT initiative to drive revenue to small businesses and nonprofits through exclusive rewards offers.

Miami City Mayor Francis X Suarez revealed the city’s plan to launch 5,000 NFTs in partnership with Time Magazine, Mastercard (NYSE: ) and Salesforce (NYSE: ).

According to a press release from the city last Thursday, the NFT collection will be designed by 56 different Miami artists, representing the city’s 56-mile area.

Mastercard will add turnkey tools to the program by giving holders of these NFTs the opportunity to enjoy exclusive benefits, including access to “Mastercard’s Priceless Miami Program.” The release read:

Through the collaboration, the City of Miami will unveil a unique collection of nearly 5,000 NFTs designed by 56 local Miami artists, representing the city’s 56 square kilometer area. Holders of these NFTs will benefit from access to MasterCard’s Priceless Miami program, which provides unique experiences, from one-of-a-kind events at local Miami restaurants to curated, unforgettable private tours of Miami cultural institutions and other memorable activities.

Speaking on the subject, MasterCard Chief Marketing & Communications Officer Raja Rajamannar said:

This new initiative demonstrates the powerful intersection of collaboration, creativity and commerce. We are excited to join forces with local Miami businesses and bring greater utility and benefit to NFTs by providing invaluable experiences to Miami residents and those visiting this dynamic city.

As for the partnership, TIME magazine is responsible for “guiding the strategy, developing advertising and launching the entire initiative.” Meanwhile, Salesforce will be responsible for minting and selling NFTs via the NFT Cloud, a new product currently in a closed pilot phase designed to help brands deliver connected experiences across the physical and digital worlds.

Adam Caplan, SVP, Emerging Technology, Salesforce, said – “we are excited to be a part of this initiative that will help strengthen Miami’s business community and bring unique experiences to life through an innovative offering.”

Speaking about Miami’s latest NFT adventure, Mayor Francis X Suarez revealed his excitement to be a part of the initiative.

I am thrilled to partner with TIME, MasterCard and Salesforce on this initiative. The City of Miami has been at the forefront of the web3 revolution and we will continue to use these new technologies to support our existing businesses while attracting new ones, raising capital and providing experiences for our residents and those who visit this great city . At the same time, we can also use this new approach to support local artists and charities.

The initiative is scheduled to go live in December 2022 after Ethereum transitions from its proof-of-work to proof-of-stake consensus.

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