- The new NFT project will help drive revenue to local businesses and non-profits in the City of Miami via exclusive rewards offerings.
- TIME will help Miami in creating its NFT strategy while Salesforce will offer technical assistance through its NFT Cloud infrastructure.
The U.S. city of Miami has always been a step ahead in the adoption of new crypto innovations and technologies. In a recent development, Miami Mayor Francis X. Suarez launched an innovative NFT initiative in partnership with MasterCard, Salesforce, and TIME Magazine.
On Thursday, July 28, the Miami Mayor shared plans to release 5000 Ethereum NFTs later this year. He further added that the initiative will drive revenue to local businesses and non-profits via exclusive rewards offerings.
A total of 56 local artists from Miami will collaborate to release a unique collection of 5,000 NFTs. The holders of these NFTs will get additional benefits from access to Mastercard’s Priceless Miami program. This includes private tours of Miami cultural institutions, one-of-a-kind events at local Miami restaurants, and other unique experiences. Speaking of the development, Mayor Francis X. Suarez stated:
I am thrilled to be partnering with TIME, Mastercard and Salesforce on this initiative. The City of Miami has been on the vanguard of the web3 revolution and we will continue to employ these new technologies to support our existing businesses while attracting new ones, raise capital and provide experiences for our citizens and those visiting this great City. At the same time, we can also use this novel approach to support local artists and charities.
The crucial role of TIME USA and Salesforce
TIME has been actively involved with the Web3 space over time. Thus, it will help Miami execute its NFT strategy as well as execute the project. Keith A. Grossman, President of TIME, added that the move will help Miam build strong connections with the visitors and residents of Miami. He further added:
We are thrilled to leverage our learnings and expertise to build this program for the great City of Miami, which has already established itself as a leader in web3 innovation, and make our first move in a new venture for TIME to bring other brands and organizations successfully and authentically into web3.
TIME President Keith Grossman is also part of the advisory board of Salesforce Web3. In this project, Salesforce will look after minting and selling NFTs via its new product NFT Cloud. Thus, by leveraging the Salesforce technology, the City of Miami will be able to integrate Web2 and Web3 data. Besides, the administration will also be able to connect with NFT holders in a meaningful way.
Miami will launch all of its 5000 NFTs by the month of December following the transition of the Ethereum blockchain to a Proof-of-Stake (PoS) network.