Miami Mayor Francis Suarez has announced a partnership with TIME, Mastercard and Salesforce to launch the city’s NFT.

We are excited to partner @FrancisSuarez, @VentureMiami, @MasterCard & @sales team to help bring @CityofMiami into #web3!

This initiative will support local artists and charities in Miami in unprecedented ways!

Learn more ⬇️https://t.co/G8Sp35FLtz

— TIMEPieces ⏰ (@timepieces) 28 July 2022

As part of the collaboration, Miami will present a collection of approximately 5,000 NFTs created by local artists.

Token holders will have access to Mastercard’s City-related Priceless Miami-themed program.

Miami has been at the forefront of the Web3 revolution and we will continue to use these technologies to support our business by attracting new companies, capital and services to our citizens and visitors to the city. We can also use this approach to support local artists and charities.”

Experienced in the NFT field, TIME magazine will provide the launch, creative and strategic direction of the initiative.

developer CRMSalesforce will take over the issuance and sale of collectible tokens through the NFT Cloud platform. This new product for interacting with the firm’s asset holders is still in the closed testing phase.

“Companies are trying to deliver services sustainably and reliably through new channels. “We are excited to be a part of this initiative that will help empower the Miami business community and bring unique experiences to life with an innovative offering,” said Adam Kaplan, Salesforce Vice President.

The project is expected to launch on Ethereum in December, following the network’s transition from the Proof-of-Work consensus algorithm to the Proof-of-Stake. As a result, the carbon emissions of the blockchain ecosystem of the second largest cryptocurrency are expected to decrease by approximately 99% relative to capitalization.

Recall that in 2021 Suarez formed a working group to integrate the city into the crypto industry. The mayor initiated the transfer of part of the treasury to bitcoin and the possibility of municipal employees receiving a salary in the first cryptocurrency.

Suarez became the first politician in the US to start receiving a salary in digital gold. Even against the backdrop of a 40% drop in price quotes since the beginning of the year, he hasn’t refused payments in cryptocurrency.

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