Polygon collaborates with Neobank hi and Mastercard for NFT debit cards
The partnership is the latest strategic move by Polygon, which is trying to become the face of gasless fees for NFTs.
Polygon blockchain has partnered with neobanking app hi and Mastercard to introduce a platform that allows users to create a personalized, web3-focused NFT debit card.
NFT Debit Mastercard holders can use either crypto or fiat currencies at 90 million global merchants. Users can also imprint any personal NFT to cover the debit card without gas charges.
Today we are so proud to announce our collaboration with @PolygonStudiosallowing users to easily generate an NFT, using their favorite image, to customize a Debit Mastercard.
The best part? It’s a gas-free coining experience.
Go to 🔗 pic.twitter.com/gcWjOs6XfL
— hi | Web 3 Neo-Banking (@hi_com_official) 19 December 2022
“The Polygon team are true blockchain pioneers and we are excited to partner with them to explore new frontiers for Web3, especially in the banking and payments space,” said hi co-founder Sean Rach.
The partnership is the latest strategic move by Polygon, which is trying to become the face of gasless fees for NFTs. The Polygon blockchain is the foundation for the Starbucks NFT loyalty rewards beta and new blockchain gaming features from Solana’s largest NFT marketplace, Magic Eden.
While Ethereum maintains the highest blockchain NFT trade volume, NFT transactions on Polygon have seen a 1,648% increase from the first to the second week of December according to data from The Block’s Data Dashboard.
According to the announcement, users must download the hi app, open an account and select a card level of Silver or higher to qualify for an exclusive. After this, they will be able to create custom cards using polygon-based NFTs. Users of this service will qualify to save on up to 20 digital subscriptions, travel benefits and spend rewards of up to 10%.
“With every transaction, hi debit cardholders in the EEA and UK will be able to earn spend rewards of up to 10%, get discounts on up to 15 digital subscriptions and get amazing travel benefits,” reader the announcement in part.
Mastercard first partnered with Hi in September to introduce customizable NFT debit cards. Users of the company’s debit and credit card service can also buy NFTs as a result of a January partnership between Mastercard and Coinbase. However, the service is limited to exclusive NFT gatherings such as CryptoPunks and Bored Ape Yacht Club (BAYC).
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Mercy Mutanya is a technology enthusiast, digital marketer, writer and IT Business Management Student. She enjoys reading, writing, crossword puzzles and watching her favorite TV series.
