The “Web3 crypto-bank” hi has teamed up with Mastercard to launch a bank card that can be personalised with the visual of an NFT in our possession
Mastercard and hi team up to offer NFT credit cards
The hi platform, describing itself as a Web3 neobank, has partnered with Mastercard to offer bank cards that can be personalised with its non-fungible tokens (NFT):
Apply for the Customizable NFT hi Crypto & Fiat Debit Card, powered by @Mastercard
Get the App to join the waitlist
iOS App https://t.co/1LnUP7prOb
Android App https://t.co/DGev6RLIAJ pic.twitter.com/ISq9BBSDOe– hi | Web 3 Neo-Banking (@hi_com_official) September 28, 2022
Sean Rach, the co-founder of hi, expressed his enthusiasm about his latest product:
Not only are NFT cards amazing, but it’s a great way for people to show which community they belong to online, but in the real world. The flexibility to spend fiat, stablecoins or other cryptos, combined with attractive financial rewards […] makes us confident that our card is a game changer in the market. “
Like many crypto cards, hi CBs will offer different levels of cashback, as well as different discounts on subscriptions with partners. The HI token is at the centre of this ecosystem, and will need to be stacked to unlock the targeted tier.
In this logic, it will only be from the “Gold” level onwards that users of the service will be able to claim a personalised card. This will require the stacking of 100,000 HI, which corresponds to a sum of around $5,000 at the current token price.
Moreover, not all NFT collections are concerned, but we find the main ones like :
- Bored Ape Yatch Club (BAYC);
- CryptoPunks ;
- Azuki ;
- Or MoonBirds for example.
Of course, in order to customize this card, we will need to have the non-fungible token in question in our possession.
Initially, the European and UK markets will be targeted and the cards will be issued by London-based payment provider Moorwand.
Long-term benefits or just a temporary offer
In order to stand out from the competition, crypto card providers often work hard to offer the best benefits on the market. But sometimes, like Crypto.com, these benefits are only temporary and new fees are added.
These policy changes can be explained by a need to sustain the service in the long term or by difficult market conditions. This is obviously not the case for all crypto cards, others manage to maintain their benefits, as is the case for Binance.
As hi’s CB has only just come onto the market, it is still too early to speculate on the viability of its advantages. We will therefore have to wait and see. It is worth noting that the price of the HI token has been divided by 30 since its previous historical high (ATH), thus suffering a discount of nearly 97%.
