Miami to launch NFT initiative in partnership with TIME and Mastercard

Miami Mayor Francis Suarez announced a partnership with TIME, Mastercard and Salesforce to launch the city’s NFTs.

We are thrilled to partner with @FrancisSuarez, @VentureMiami, @Mastercard & @Salesforce to help bring the @CityofMiami into #web3!

This initiative will support local artists & charities in Miami in unprecedented ways!

Learn more ⤵️https://t.co/G8Sp35FLtz
— TIMEPieces ⏰ (@timepieces) July 28, 2022

As part of the collaboration, Miami will present a collection of nearly 5,000 NFTs created by local artists.

Miami to launch NFT initiative in partnership with TIME and Mastercard

Token holders will have access to Mastercard’s city-related Priceless Miami themed program.

“Miami has been at the forefront of the Web3 revolution and we will continue to use these technologies to support our business by attracting new companies, capital and services to our citizens and visitors to the city. At the same time, we can use this approach to support local artists and charities,” Suarez said.

Experienced in the NFT space, TIME will provide the initiative’s launch, creative and strategic direction.

CRM developer Salesforce will take over the issuance and sale of collectible tokens through the NFT Cloud platform. This new product of the firm for interaction with owners of assets is still at the stage of closed testing.

“Companies are looking to deliver services through new channels in a sustainable and reliable way. We are excited to be part of this initiative that will help strengthen the Miami business community and bring unique experiences to life with an innovative offering,” said Salesforce Vice President Adam Kaplan.

The project is expected to launch in December on Ethereum after the network transitions from the Proof-of-Work consensus algorithm to Proof-of-Stake. It is expected that as a result of this, the carbon emissions of the blockchain ecosystem of the second largest cryptocurrency by capitalization will be reduced by about 99%.

Recall that in 2021, Suarez created a working group to integrate the city into the crypto industry. The mayor initiated the transfer of part of the treasury to bitcoin and the possibility of municipal employees receiving salaries in the first cryptocurrency.

Suarez himself became the first politician in the United States to start receiving a salary in digital gold. He did not refuse payments in cryptocurrency even against the backdrop of a 40% drop in quotes since the beginning of the year.

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