Polygon's next web3 play is an NFT debit card
Quick Take
- Polygon has partnered with the neo-banking app Hi to create a platform to mint Polygon NFTs as the face of a web3-focused debit card.
- The move follows other strategic partnerships from Polygon, which has collaborated with Starbucks and Magic Eden.
Polygon has partnered with the neo-banking app Hi to introduce a platform that allows users to mint NFTs for a web3-focused debit card.
Called the NFT Debit Mastercard, card holders can spend either crypto or fiat currencies at 90 million global merchants. Users can also mint any personal NFT, whether a holiday photo or profile picture, for the cover of their debit card without paying gas fees.
The move marks the latest strategic partnership for Polygon, which is trying to become the face of gasless fees for NFTs. Polygon undergirds the Starbucks NFT loyalty rewards beta as well as new blockchain gaming features from Solana's biggest NFT marketplace, Magic Eden.
Though Ethereum still dominates NFT trade volume by blockchain, Polygon has seen NFT transactions rise 1,648% from the first week of December to the second, according to The Block's Data Dashboard.
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