Amidst a Bear Market, Francis Suarez, the mayor of the City of Miami, will release an NFT collection on the Ethereum Blockchain in partnership with Mastercard, TIME, and Salesforce in the month of December.
Announced a few months after this year’s Miami NFT Week in April, Miami’s latest Web3 NFT project will consist of 5000 Magic City-themed NFTs featuring multiple variations of the Miami city key. 56 different artists will create the NFTs to represent Miami city’s 56-square-mile radius.
This project aims to celebrate Miami’s vibrant culture and provide an opportunity for the city to enhance its presence on Web3.
Backed by physical utilities thanks to Mastercard, the collection will inspire more people to explore the city, potentially increasing Miami’s revenue while building “deeper connections with residents and visitors alike.”
The Miami Government will mint these NFTs in December 2022. The collection will be created on the Ethereum ecosystem once it finally shifts from the Proof of Work to the Proof of Stake mechanism. The official website claims it will provide the application details for interested NFT artists in the coming months.
The three partners, Salesforce, TIME, and Mastercard, each have their own objectives to carry out for this venture; Salesforce is responsible for minting these NFTs on its upcoming eco-friendly, energy-efficient NFT platform, NFT Cloud.
On the other hand, TIME USA, the publisher of Time Magazine, will deal with guiding the strategy and launching the project. Lastly, Mastercard is responsible for providing holders of these NFTs with “Priceless Miami” experiences, including special access to restaurants and private city tours.