NFTs News

Miami City To Release 5,000 NFT With TIME, Mastercard

The mayor of Miami has just revealed plans to partner with TIME, Mastercard, and Salesforce to release an NFT collection.

Miami City To Release 5,000 NFT With TIME, Mastercard 4

In an announcement by TIME yesterday, the project said it would join forces with Miami city to release NFT.

According to the release, the NFT will be designed by 56 local artists representing the 56 square miles of the city. The project will be launched in November of this year on Ethereum after the blockchain transitions to the Proof-of-Stake mechanism.

TIME will define Miami’s NFT development strategy as part of the partnership. Mastercard will provide NFT ownership and exclusive benefits such as a unique city tour program this time. Meanwhile, Salesforce will handle the minting and selling of NFTs through the NFT Cloud, the new product is in closed beta.

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TIME President Keith Grossman said the project represents a new venture bringing leading brands and organizations to Web3 and is Time’s first foray into helping other organizations implement the NFT project.

He further added:

“We are thrilled to leverage our learnings and expertise to build this program for the great City of Miami, which has already established itself as a leader in Web3 innovation, and make our first move in a new venture for TIME to bring other brands and organizations successfully and authentically into Web3.”

Miami Mayor Francis X. Suarez

Mayor Suarez is also very confident with Web3 platforms:

“I am thrilled to be partnering with TIME, Mastercard and Salesforce on this initiative. The City of Miami has been on the vanguard of the Web3 revolution and we will continue to employ these new technologies to support our existing businesses while attracting new ones, raise capital and provide experiences for our citizens and those visiting this great City.
At the same time, we can also use this novel approach to support local artists and charities.”

The NFT release is not the city’s first foray. Miami launched MiamiCoin (MIA) last August before deciding to give away Bitcoin to all eligible residents for free.

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.