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The partnership is the latest strategic move by Polygon, which is trying to become the face of gasless fees for NFTs.
Holders of the NFT Debit Mastercard can spend either crypto or fiat currencies at 90 million global merchants. Users can also mint any personal NFT for the cover of their debit card with zero gas fees.
Today, we’re so proud to announce our collaboration with @PolygonStudios, allowing users to easily generate an NFT, using their favorite image, to customize a Debit Mastercard.
The best part? It’s a gasless minting experience.
— hi | Web 3 Neo-Banking (@hi_com_official) December 19, 2022
“The Polygon team are true blockchain pioneers and we are excited to partner with them to explore new frontiers for Web3, particularly in the banking and payments space,” said hi co-founder Sean Rach.
The partnership is the latest strategic move by Polygon, which is trying to become the face of gasless fees for NFTs. The Polygon blockchain is the basis of the Starbucks NFT loyalty rewards beta and new blockchain gaming features from Solana’s biggest NFT marketplace, Magic Eden.
While Ethereum maintains the highest NFT trade volume by blockchain, NFT transactions on Polygon have seen a rise of 1,648% from the first to the second week of December as per data from The Block’s Data Dashboard.
According to the announcement, users must download the hi app, open an account and choose a card level of Silver or higher in order to qualify for an exclusive. After this, they will be able to create custom cards using Polygon-based NFTs. Users of this service will qualify for saving on up to 20 digital subscriptions, travel advantages and Spend Rewards of up to 10%.
“With every transaction, hi Debit Card holders in the EEA and UK will be able to earn Spend Rewards of up to 10%, get rebates on up to 15 digital subscriptions and get awesome travel benefits,” reads the announcement in part.
Mastercard initially collaborated with Hi in September to introduce customizable NFT debit cards. Users of the company’s debit and credit card service are also able to buy NFTs as a result of a January partnership between Mastercard and Coinbase. The service is, however, limited to exclusive NFT collections like CryptoPunks and Bored Ape Yacht Club (BAYC).