Miami is making NFTs: The city of Miami’s Mayor Francis X. Suarez shared plans Thursday to release 5,000 Ethereum NFTs later this year. Miami is partnering with TIME magazine publisher Time the USA, Mastercard, and Salesforce to make it happen.
The NFTs are being designed by 56 different Miami artists “representing the city’s 56 square mile area.” The unique blockchain tokens are created by 56 artists representing the city’s 56-square-mile area. Mastercard will offer Miami NFT holders exclusive benefits like special event access.
Salesforce will manage the NFTs minting and primary sales processes with its new NFT Cloud platform. Decrypt hasn’t yet responded to Decrypt’s request for comment on the mayor’s situation.
Miami started the mining dubbed MIA, a new altcoin that anyone in Mexico can hold in their wallet and buy. It generated about $8 million in revenue for the city in two months but is now down 98.9% from its all-time high.