Miami, a coastal metropolis in the American state of Florida, is collaborating with TIME magazine, Mastercard, and Salesforce to release 5,000 Ethereum NFTs later this year. The digital collectibles are being designed by 56 different Miami artists representing the city’s 56-square-mile area.
The NFT holders will get access to Mastercard’s Priceless Miami program, offering experiences, private tours, and activities within the city. Salesforce will oversee the minting and selling of the non-fungible tokens with its new cloud platform, which is yet to be launched. TIME magazine will play the role of a strategist and execute the project. Keith Grossman, Time President, said the Miami project is TIME’s first step into helping other entities deploy NFT projects. He revealed that the artwork will reflect the tremendous diversity represented within the City of Miami. Grossman said they are thrilled to leverage their learnings and expertise to build the program for the great City of Miami, which is already renowned in Web3 innovation.
Raja Rajamannar, the chief marketing & communications officer at Mastercard, said the new initiative demonstrates the powerful intersection of collaboration, creativity, and commerce. Mastercard is thrilled to join forces with local Miami businesses and provide greater utility and benefit to NFTs by offering priceless experiences to the people of Miami and to those visiting the dynamic city.
Moreover, Miami plans to execute the project by December 2022 on the Ethereum blockchain – as soon as the network moves to Proof-of-Stake (PoS) consensus. Francis X. Suarez, the mayor of Miami, wants to make Miami a leader in crypto, research different ways to impose technology in the city’s planning and allocate some of the city’s treasury reserves to Bitcoin for advertising the CityCoins protocols. The mayor said they will continue to employ new technologies to support the existing businesses while attracting new ones.