The multinational credit card company Mastercard just partnered with European crypto exchange “hi” to launch customizable non-fungible token (NFT) debit cards. Now users who hold NFTs from select blue chip collections will be able to add the avatar artwork to their cards.
The NFT debit cards will be available only to Gold members of the platform. To obtain Gold membership, users must stake at least 100,000 hi dollars (HI) — the platform’s native token — worth around $4,600 at the time of writing. Gold members must also go through a verification process to prove they own the NFTs before their debit cards are customized.
Through the new initiative, owners of BAYC, Moonbirds, CryptoPunks, Goblintown and Azuki NFTs will all qualify. Owners of these collections will be able to personalize their debit cards subject to Mastercard’s design standards and NFT verification.
Once in possession, owners can then wield their fancy card anywhere that accepts Mastercard payments. Essentially, allowing them to initiate a purchase through fiat, stablecoins and crypto held within the ‘Hi’ account. Sadly, the offer only extends to members residing in one of 25 European Economic Areas, plus their unruly cousin, the United Kingdom. Therefore, leaving those located in the rest of the world seething with lustful envy.
Sean Rach, Co-founder of hi, commented, “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.”
The hi Debit Card will be available in six different forms with a suite of benefits, on the basis of membership tier. One can obtain Membership by staking hi’s token, and will start at less than the equivalent of 10 Euros:
The ‘hi’ Debit card will be first available to hi members in 25+ EEA countries and the UK. The NFT avatar customization will be seen in a limited range of NFT collections like CryptoPunks, Moonbirds, Goblins, Bored Apes and Azukis.
To apply for card customization, NFT owners will first have to verify that they indeed own the NFT. The hi Debit card will be issued by Moorwand.