Miami City will launch 5000 ETH NFTs with the help of companies like Mastercard, TIME, and Salesforce that will make it happen so let’s read more today in our latest cryptocurrency news.
The Miami mayor Francis Suarez’s love for Web3 is nto slowing down despite the crypto winter which is why Miami City will launch 5000 ETH NFTs later this year and the city is partnering with Time Magazine, Mastercard, Time USA, and Salesforce to make it happen. The NFTs are unique blockchain tokens that signify ownership as being designed by 56 different artists that represent the city’s 56 square mile area.
Time USA will help define the city’s NFT strategy as well as execute the project while Mastercard will offer Miami NFT holders benefits like special event access at restaurants and cultural tours in the city. Salesforce will manage the NFTs minting and the primary sales process with the new NFT Cloud paltform which is yet to be released Salesforce product which will allow brands to mint and sell NFTs. The TIME President Keith Grossman who is on the Salesforce Web3 Advisory Board that the Miami NFT project is the first foray of the company into helping other entities deploy NFT projects and hinted that more might be coming soon.
He said the Miami NFT is all about giving holders the ability to unlock unique experiences. Grossman added:
“The artwork will reflect the tremendous diversity represented within the city of Miami.”
Just like El Salvadoran President Nayib Bukele, Mayor Suarez seems unfazed by the current bear market which led some crypto companies to lay off their staff and fall into bankruptcy:
“We will continue to employ these new technologies to support our existing businesses while attracting new ones.”
Miami’s Ethereum NFTs planned for a December launch after the ETH move to proof of stake isn’t the city’s first foray into Web3. Suarez launched MiamiCoin as an altcoin that the city will hold in a wallet and others could buy back in August last year. It generated about $8 million in revenue for the city in two months but it is down 98.9% from the ATH. Miami locked up or staked most of the MIA to earn a yield in BTC and shared plans to give an amount of the said yield back to the Miami residents. From altcoins to NFTs it sure looks like Miami is not giving up on crypto anytime soon.