The crypto-friendly financial app hi – a multiservice crypto exchange and a digital banking platform partnered with Mastercard to launch the first-of-its-kind NFT-customizable fiat and crypto debit card, so what is to expect from the product, and is it worth attention?

What are the card’s core features?

  • The hi debit card will enable eligible cardholders to put a unique NFT avatar they verifiably own on their debit cards and enjoy the upgraded personalized design currently offered in six variants. The card will be available for users from over 25 EEA countries as well as the UK.
  • Payment options will include fiat, stablecoins, and other cryptos while using the upcoming card will be possible in over 90 million locations accepting Mastercard.
  • Users will be able to get additional perks by staking hi’s token starting from less than €10 equivalent. Depending on the level of membership, people will have access to different perks including customization and personalization of the card’s face with exclusive NFT collectibles from Bored Apes, CryptoPunks, Moonbirds, Goblins, Azukis, etc., provided that the users own the particular NFT.
  • According to the press release, apart from NFT customization, hi debit card will grant the users with other attractive financial and lifestyle rewards, among which hi personal IBAN, 1-10% cashback back on multipurpose spending, discounts for digital subscriptions, and so on.

What are the creators’ goals and plans?

Hi app Co-founder Sean Rach believes the upcoming card is going to pave the way to greater payment flexibility and become a game-changer in the banking industry: “Not only do the NFT cards look amazing, this is a great way for people to show which online community they belong to, but in the real world”.

In turn, Mastercard Senior Vice President, Crypto and Fintech Enablement Christian Rau acknowledges the need for a step toward broader accessibility: “As consumer interest in crypto and NFTs continues to grow, we are committed to making them an accessible payments choice for the communities who wish to use them. We are proud to be working with hi to continue to drive innovation in the market and enable these customizable cards together with the safety and security you’d expect from Mastercard.”

How is Mastercard unleashing its potential through NFT?

Mastercard is not testing the waters of the NFT space, having partnered with Coinbase in January 2022 to authorize users to pay for NFTs with their debit cards regardless of the marketplace they choose. Other than that, throughout 2022, Mastercard established NFT commercial partnerships with such Web3 companies as Immutable X, The Sandbox, Mintable, Candy Digital, Spring, Nifty Gateway, and crypto payments infrastructure provider MoonPay.

With above 2.9 billion Mastercard cards issued globally, every Web3-friendly partnership of the company could greatly impact the developing NFT ecosystem.

Yet could this new card mark the start of mainstream NFT bank card ownership, or will it still remain a privilege?  – We only have to closely watch the market updates.

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