Mastercard NFT chief steps down and tokenizes resignation letter

    Mastercard NFT product lead Satvik Sethi mentioned in a sequence of tweets on Feb. 2 that he has resigned from that place, which he has held for the previous 12 months.

    Sethi mentioned he skilled harassment and torture owing to the firm’s administration. He urged that his wage was denied to him, his employment contract was overridden, and that he was blocked from on-line accounts.

    Sethi mentioned that he’s minting and promoting his resignation letter as an NFT priced at 0.023 ETH ($38.00) to help himself. He mentioned that he’ll airdrop extra paintings to supporters sooner or later. Manifold, the app on which patrons can mint the token, reports that 38 tokens have been minted on the time of writing.

    Sethi additionally emphasised the extent of his position on the firm. He mentioned that each one questions on Web3 ⁠— together with these from companions ⁠— have been directed to him. He added:

    “[Mastercard] might try to discredit me or downplay my contributions. But the fact is ⁠— globally our partners, clients, and regional teams associate Mastercard x NFTs with me.”

    Mastercard has not commented on Sethi’s resignation. Presumably, it’s going to proceed to supply its varied non-fungible token options regardless of Sethi’s key position.

    In June 2022, Mastercard partnered with varied NFT marketplaces, together with ImmutableX, Sweet Digital, The Sandbox, Mintable, Spring, and Nifty Gateway. That partnership allowed cardholders to purchase NFTs with out buying crypto as an intermediate step. The same partnership with Coinbase preceded that effort by a number of months.

    Mastercard has additionally labored with Polygon to launch an artist accelerator that helps members to mint NFTs. The corporate partnered with the crypto app Hello to supply customizable debit playing cards that includes NFT avatars final 12 months.

    Outdoors of NFTs, Mastercard can also be working to supply crypto-related companies, together with buying and selling companies, monitoring instruments, and reward choices. It additionally powers cost playing cards supplied by crypto corporations, together with Uphold, Wirex, Nexo, and Bitpay.

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