The City of Miami is launching a new NFT initiative in partnership with TIME, Mastercard, and Salesforce to drive revenue to local businesses and non-profits.
The initiative consists of launching nearly 5,000 NFTs designed by 56 local Miami artists, representing the city’s 56 square mile area.
NFT holders will have access to Mastercard’s Priceless Miami program, which offers unique experiences, including events at local restaurants and private tours of Miami cultural institutions.
TIME, the nearly 100-year-old brand that has gained prominence in Web3 in the past year, will lead the strategy, make the creative decisions, and launch the program.
Mastercard will provide NFT holders with access to its Priceless Miami experiences, adding turnkey utility to the program.
Salesforce, the global CRM leader, will handle the minting and sale of NFTs via NFT Cloud, a new product designed to help marketers provide linked experiences across the real and digital worlds.
This program is expected to debut in December 2022 and will run on the Ethereum blockchain after switching from Proof of Work to Proof of Stake, which is expected to cut carbon emissions by 99 percent or more. More details on the NFT drop will be released in the following months.