A model for future cities? Miami launches its own NFT collection
What’s the first thing that pops into your head when you think of Miami? Is it Miami Beach? Nightlife in Miami? Authentic Cubanos? Dwyane Wade? All are correct, but now Miami’s city council wants you to add “Web3 hotspot” to the list.
During the NFT industry’s bull run through 2021, one of the most important events during this time frame was undoubtedly Art Basel Miami. Scores of NFT enthusiasts flocked to the event’s various locations across the city to catch one of many NFT-centric events taking place at one of the most significant networking events in the entire art industry – not just in the NFT art space.
It therefore makes sense that the city of Miami embraces NFT wholeheartedly after hosting one of the industry’s defining events. The City of Miami is partnering with TIME — one of Web3’s most prominent advocates in the world of traditional media — as well as Mastercard and Salesforce, to launch a collection of “nearly 5,000 NFTs designed by 56 local Miami artists,” according to an announcement on the city’s official website.
And if Miami and its partners succeed, this move could become a model for future cities to push Web3 capabilities with their own NFT offerings.
A digital and physical celebration
The project is intended as a celebration of Miami’s vibrant culture and history. As such, a key component of this citywide Web3 launch is Mastercard’s Priceless Miami program, which will give holders of these NFTs access to “one-of-a-kind experiences, from one-of-a-kind events at local Miami restaurants to curated, unforgettable private tours of Miami cultural institutions and other memorable activities.”
With this tool built into the project, the City of Miami hopes that IRL experiences laid out for NFT holders will encourage the public to further explore the city on their own, driving more foot traffic – and potentially revenue – into the city.
Due to its close ties with the NFT community, which includes hosting Art Basel Miami each year, one of the industry’s now-tentpole events, Miami remains uniquely positioned to sponsor NFT collection launches, even in the face of a global, multi-industry. -which spans the bear market.
“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 ,” Miami Mayor Francis X. Suarez said in the press release. “At the same time, we can also use this new approach to support local artists and charities.” Of course, there is no guarantee that Miami’s dreams of a Web3 oasis will succeed. But if it gets halfway, it could serve as a leader and model for other major cities in the US – and the world – to sponsor NFT launches, and become part of a unique future. One where local artists have more opportunities to sustain themselves, and all the things that make a city a great place to live find a new reason to celebrate.
