Mastercard to offer NFT-customizable cards

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Mastercard has teamed up with crypto and fiat financial app, hi, to launch the world’s first debit cards that can be customized with an NFT avatar owned by the cardholders. 

These customizable cards have six variants with a range of benefits, depending on membership tier at hi, and can be used at more than 90 million locations worldwide where Mastercards are accepted, Mastercards said on September 25.

The hi Debit Card will initially be available to hi members in more than 25 European countries and the United Kingdom. hi Gold members and above will be eligible for NFT avatar customization, which will support a limited range of NFT collections including CryptoPunks, Moonbirds, Goblins, Bored Apes and Azukis. NFT owners will be asked to verify that they own the NFT in order to apply for card customization.

The cards allow users to spend fiat, stablecoins and other cryptos at any Mastercard merchant worldwide, and enjoy 1 to 10 per cent back on spending. The cards can be funded instantly via SEPA or FPS with Euros or British pounds using a hi personal IBAN.

Mastercard has been recently stepping up efforts on digital assets, including cryptos and NFTs. In September 2021, it issued its first NFTs. 

In January, it announced a partnership with Coinbase, a major crypto exchange, to introduce credit card payments on its NFT marketplace CoinbaseNFT. In June, Mastercard announced that it would introduce a payment network to Web3 and that its credit and debit cards could be used for payments at several NFT marketplaces.