Mastercard Launchs NFT Debit Card Especially For Users In The European Union And Great Britain

JAKARTA - Mastercard has launched customizable nonfungible token (NFT) debit cards, which allow some cardholders who have avatars from certain NFT collections to add artwork to payment cards.

Debit cards are available through a partnership launched on September 26 with European cryptocurrency exchange platform, "hi" that allows Gold Members to personalize their debit cards with the NFT they have verified.

Gold membership with the platform was acquired at a minimum of 100,000 hi Dollars (HI), the platform's original token, a total of around $4,600 (Rp 69, 1 million) according to data from CoinGecko.

NEWS! Today @hi_com_official launches the world’s first debit card featuring NFT Customization, allowing cardholders to personalize the face of their card with an NFT Avatar. Read more here 👇https://t.co/awNVowcsuG pic.twitter.com/A5xFsHlX0w

— Mastercard Europe (@MastercardEU) September 26, 2022

This card will allow for expenses in paper money, stablecoins, or any cryptocurrency that users have and receive wherever Mastercard merchants are available. Other features such as hotel loans, cash back incentives and rebates on Netflix and Spotify subscriptions are also cited as benefits of certain membership levels.

Crypto Empowerment VP and Fintech Mastercard, Christian Rau said with consumer interest in NFTs and crypto growth, payment providers committed to make it a payment option accessible to communities looking to use.

The limited NFT collection will be supported including CryptoPunk, Moonbirds, badtown, Bored Ape and Azuki, owners of these NFTs should be Gold Members with hi and verify their NFT holdings with platforms to receive their custom cards.

In addition, cards are only available in 25 European Economic Regions (EEA) and the United Kingdom.

With a broader drop in the crypto market over the past few months, most of the blue chip NFT collections have experienced price declines, but data by NFTGo shows the steady growth of the blue-chip NFT since September 12 possibly bringing new interest to the market of the largest crypto collection.

Mastercard, as reported by Cointelegraph, has helped crypto payments become mainstream with its support for assets, even allowing Mastercard holders to purchase NFTs through partnerships with several NFT markets in June.