NFT art on debit cards? Mastercard and Crypto App hi Have Your Back
The alpha
- Crypto and financial app hi has partnered with Mastercard to announce the world’s first NFT-customizable fiat and crypto debit card for hi users, according to a press release.
- Gold-tier members of hi will be able to decorate their cards with an NFT they can verify they own as long as it meets Mastercard’s design standards.
- The Hi Debit Mastercard comes in six variants that depend on a hi user’s membership level. Customers can become members by staking HI, his original token. Membership starts at a price point of around 10 euros.
Why it matters
Legacy companies continue to push into the Web3 space, but the reason it matters comes from context. The more major brands like Mastercard experiment with NFTs, even cosmetically, the greater their mainstream appeal will grow, accelerating and expanding the adoption of the technology.
“As consumer interest in crypto and NFTs continues to grow, we are committed to making them an accessible payment choice for the communities that want to use them,” said Christian Rau, Senior Vice President, Crypto and Fintech Enablement at Mastercard, in press release. “We are proud to work with hi to continue to drive innovation in the market and enable these customizable cards along with the safety and security you expect from Mastercard.”
This is not Mastercard’s first flirtation with NFTs. In January, the company partnered with Coinbase to allow the platform’s users to buy NFTs using a Mastercard credit or debit card without having to buy crypto first. It also teamed up with the City of Miami in July to support the launch of a 5,000-strong NFT collection featuring art from more than 50 local artists.
The card is linked to a user’s hello wallet and supports Euro, Pound, Bitcoin, ETH, USDT and more.
While the benefits of the debit card vary depending on a hi user’s membership level, only “gold” tier members and above – those who have staked 100,000 of their original hi token, HI or more – will be able to customize the face of their card with an NFT avatar they provably own, provided the NFT meets Mastercard’s card design standards.
Mastercard and its new cards will support NFTs from a limited selection of NFT collections: CryptoPunks, Moonbirds, Goblins, Bored Apes and Azukis.
What’s next:
Mastercard and hey posting these cards isn’t a game-changing Web3 move, but it could prove influential. Visibility is important, and anything that helps normalize NFTs, even just seeing one on a card while someone pays for their coffee, is a good thing.
