Mastercard, hi app partner to issue cards with NFT avatars
In partnership with Mastercard, crypto and fiat financial app hi is launching what it calls “the world’s first debit card featuring NFT avatar customization.”
Per the announcement, eligible owners of blue-chip NFTs can now customize Mastercard debit cards with avatars they verifiably own. It means they will be able to have their beloved character emblazoned on the plastic card that’s in their pocket.
The card also offers other benefits such as access to exclusive offers with select merchants and comes with no annual fee, as well as free subscriptions to lifestyle products, and travel perks. On top of that, cardholders can spend at more than 90 million locations worldwide where Mastercard is accepted.
The hi debit card has six different membership tiers with a range of benefits, depending on membership tier, which is obtained by staking hi’s token, and starts at less than 10 euros.
To begin with, hi cards will initially be available in 25+ EEA countries as well as the UK . The card only supports a limited number of NFT collections including CryptoPunks, Moonbirds, Goblins, Bored Apes and Azukis. NFT owners need to verify they own a collectible before their card can be customized.
“Not only do the NFT cards look amazing, this is a great way for people to show which online community they belong to, but in the real world,” says Sean Rach, Co-founder of hi. “The flexibility to spend fiat, stablecoins or other crypto, combined with attractive financial and lifestyle rewards, makes us confident that our card is a game-changer in the market.”
“As consumer interest in crypto and NFTs continues to grow, we are committed to making them an accessible payments choice for the communities who wish to use them. We are proud to be working with hi to continue to drive innovation in the market and enable these customizable cards together with the safety and security you’d expect from Mastercard.” says Christian Rau, Senior Vice President, Crypto and Fintech Enablement at Mastercard.
Specially issued crypto cards are becoming the norm that is quite popular since they allow users to cash out their digital assets and spend them at thousands of credit card-accepting merchants worldwide. The hi card also resolves one of the greatest drawbacks of NFTs, which is the inability to use them in everyday life with the same ease as traditional currencies.